On the Zagreb Stock Exchange, Crobex indices rose again last week, marking the second consecutive week of gains, with investors focusing on companies that announced their business results for the first quarter of this year.
The Crobex index increased by 0.42 percent last week, reaching 1,796 points, while Crobex10 strengthened by 0.89 percent, to 1,046 points.
Among sector indices, Crobexnutris had the highest gain, rising by 2.8 percent, while Crobexindustrija saw the largest decline, falling by 2.45 percent.
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Regular trading volume amounted to around 29 million kuna last week, which is 8 million more than the previous week.
“The past trading week was marked by the announcements of financial reports from companies for the first quarter.
Although the last day for reporting on the stock exchange is Monday, most companies announced their business results in the past week,” says Vinko Jurić, financial analyst at Zagrebačka banka.
The highest turnover, exceeding 7 million kuna, was achieved last week by shares of Brodogradilište Viktor Lenac, whose price fell by more than 8 percent, to 9 kuna.
Following with a turnover of around 4.4 million kuna was the share of Podravka, which increased by 7.4 percent, to 290 kuna.
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“Podravka reported an 8.3 percent increase in revenue and nearly tripled net profit in the first quarter of this year compared to the same period last year. Both segments, food and pharmaceuticals, recorded revenue growth of 9 and 5 percent, and Podravka also states that the good business results are a result of organic growth, without extraordinary impacts,” explains Vinko Jurić.
Podravka also reported that the Supervisory Board proposed to the general assembly a decision to pay a dividend of 7 kuna gross per share, the same as last year.
With a turnover of nearly 3.5 million kuna, the share of Valamar Riviera followed, with its price rising by 1.5 percent, to 40 kuna.
The share of HT achieved a turnover of 2.8 million kuna, with a price increase of 1.9 percent, to 163 kuna.
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HT reported last week that it achieved a net profit of 166 million kuna in the first quarter, which is 11.8 percent higher than in the same period last year, while revenues fell by 1.1 percent, to 1.8 billion kuna.
“HT also states that they increased investments, or capital expenditures, by 21 percent compared to the first quarter of last year, to 442 million kuna,” emphasizes Vinko Jurić.
Through the preferred issue of Adris, a turnover of 2.7 million kuna was achieved last week, with its price falling by 0.5 percent, to 418 kuna.
The management and Supervisory Board of Adris Group proposed to the general assembly a decision to pay a dividend of 17.5 kuna per share, while last year the dividend was 17 kuna.
Shares of Končar achieved a turnover of nearly 1 million kuna last week, with their price falling by 0.75 percent, to 665 kuna.
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A turnover exceeding 900 thousand kuna was also achieved by the share of AD Plastik, which increased by 5.6 percent, to 190 kuna.
This company announced last week that it achieved a net profit of 31.8 million kuna as a group in the first quarter, which is 36 percent higher compared to the same period last year, while the group’s revenues rose by more than 20 percent, to 323 million kuna.
Among the biggest losers last week was the share of Ericsson Nikola Tesla, with a price drop of 7.9 percent, to 1,055 kuna, with a turnover of nearly 880 thousand kuna.
This company reported that it recorded a 52 percent increase in net profit in the last quarter compared to the same period last year, to 30.3 million kuna, but its revenues fell by more than 5 percent, to 341 million kuna.
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Ericsson NT also announced that the Supervisory Board proposed to the general assembly to pay a dividend of 32.50 kuna per share to shareholders, significantly lower than last year’s dividend of 90 kuna.
Of the 69 issues traded last week, 24 recorded price increases, 34 declines, and 11 stagnation.
“Monday is the last day for announcing financial reports for the first quarter of this year, so movement in turnover and stock prices can still be expected at the beginning of next week in accordance with the announcements from companies,” concludes Vinko Jurić.
