Dalekovod shares are now traded on the Official Market of the Zagreb Stock Exchange, following the signing of the listing agreement by Dalekovod’s CEO Luka Miličić and the CEO of the Zagreb Stock Exchange Roberto Motušić.
Until now, 2,293,812 ordinary shares of Dalekovod d.d. were traded on the Regular Market of the Zagreb Stock Exchange, where they were among the most traded shares based on the achieved average daily turnover. Dalekovod shares were the fourth most liquid stock on the exchange this year and the second by turnover among construction stocks, accounting for 6.6 percent of the total turnover of the Zagreb Stock Exchange, it was highlighted at the contract signing ceremony. Presenting the company’s operations, Dalekovod leaders emphasized that this year, sales revenues are expected to reach 2.25 billion kuna, while a 33 percent decline in revenue to 1.5 billion kuna is anticipated for the next year.
The reasons for the expected decline in revenue were explained by the generally difficult economic situation and tougher access to financing sources, competition in foreign and domestic markets, burden from fixed costs, as well as expensive access to strategic raw materials. Dalekovod’s Director of Finance and Accounting Tea Martinčić stated that the company plans to increase the share of revenue from foreign markets next year, with a particular focus on the Scandinavian markets, as well as Kazakhstan, Ukraine, Georgia, and countries in the region. Debt restructuring and reduction of fixed operating costs are also planned, she added. By listing on the Official Market, we aim to increase the base of potential investors and prepare the investment public for possible new forms of long-term financing through securities issuance, and our ultimate goal is to list shares on the Prime Market of the Zagreb Stock Exchange, Martinčić said. In the first hour and a half after the listing on the Official Market, the price of Dalekovod shares increased by 2.6 percent. (H)
