Business Results and Dividends Boost Crobex, Zaba Winner of the Week

On the Zagreb Stock Exchange, indices rose again last week, marking the third consecutive week of increases, and trading volume significantly increased, with investors focusing on the shares of companies that announced their business results for the previous year.

The Crobex index jumped 2.31 percent last week, reaching 2,200 points, the highest level since January of last year. The Crobex10 rose by 1.24 percent to 1,265 points, also reaching a new high since early May last year.

All stock indices increased last week, with Crobextransport leading the way with an almost 8 percent rise.

Regular trading volume reached nearly 6 million euros, approximately 2.6 million more than the previous week.

The most liquid stock, with a turnover exceeding one million euros, was the share of Zagrebačka banka, which saw its price soar by 13.94 percent to 11.85 euros.

Zagrebačka banka announced on Friday that the Management Board and the Supervisory Board propose to the General Assembly, scheduled for April 5, a decision on the payment of dividends totaling 1.69 euros per share. The proposal is to pay shareholders a dividend of 0.74 euros per share from profits earned last year, while a dividend of 0.95 euros per share would be paid from retained earnings of Zaba.

Following in liquidity was the share of Valamar Riviera, with a turnover of 676 thousand euros and a price increase of 0.74 percent to 4.24 euros.

Significant trading, above 400 thousand euros, was also recorded for the shares of Atlantska plovidba, whose price jumped by 11.11 percent to 54 euros, and Arena Hospitality Group, which increased by 5.63 percent to 33.8 euros.

The preferred share of Adrisa achieved a turnover of 385 thousand euros, with its price strengthening by 0.8 percent to 52 euros. This company reported that it ended 2022 with a net profit of 550 million kuna, which is 37 percent more than a year earlier, while the total revenue of the group last year amounted to 6.5 billion kuna, 14 percent higher.

HT reported that in 2022 it achieved a net profit of 655 million kuna, which is 10.5 percent more compared to 2021, while organic revenues increased by 2.2 percent to 7.4 billion kuna. The share of HT achieved a turnover of 367 thousand euros, with its price strengthening by 1.2 percent to 25.4 euros.

Among the most liquid was also the share of Ericsson Nikola Tesla, which achieved a turnover of 261 thousand euros, with its price dropping by 0.82 percent to 242 euros.

This company reported on Tuesday that its net profit for 2022 amounted to 119.17 million kuna, which is 32.8 percent less than in 2021, while its total revenues increased by 2.2 percent to 2.29 billion kuna.

The largest price drop among the most liquid last week was recorded by the shares of Solaris, down 4.76 percent to 100 euros, and the shares of the Institute IGH, down 4.72 percent to 12.1 euros.

On the ZSE last week, a total of 60 stocks were traded, with the price of 31 rising, 16 falling, and 13 remaining stable.