ZSE: Crobex Indices Rise at the Start of Earnings Season

Last week on the Zagreb Stock Exchange, at the beginning of the quarterly earnings season for companies, the Crobex indices rose, accompanied by increased trading volume, with the stocks of Končar D&ST and Ericsson Nikola Tesla in focus for investors.

The Crobex index increased by 0.55 percent last week, reaching 2,814 points, while Crobex10 rose by 0.71 percent to 1,710 points. All sector indices strengthened, except for Crobexturist, which fell by 1.28 percent. The Crobexkonstrukt saw the highest increase, rising by 1.17 percent.

Regular trading volume reached 5.5 million euros, which is 1.7 million euros higher than the previous week.

Additionally, a block trade of 1.67 million euros was achieved in a transaction involving three stocks. The stock of Atlantic Grupa recorded a block trade of 1.13 million euros, priced at 56.5 euros per share, while HPB‘s stock reached 271 thousand euros at a price of 224 euros, and Valamar Riviera‘s stock reached 270 thousand euros at a price of 5.2 euros.

In regular trading, the highest turnover was achieved by the common stock of Končar D&ST, amounting to 608 thousand euros, with a price increase of 6.25 percent to 1,530 euros. This was followed by the preferred stock of Končar D&ST, with a turnover of 596 thousand euros and a price increase of 8.7 percent to 1,500 euros.

The stock of Ericsson Nikola Tesla recorded a turnover of 514 thousand euros, with its price falling by 1.93 percent to 203 euros, making it the largest loser among the more liquid stocks. Ericsson Nikola Tesla reported a net profit of 6.4 million euros in the first quarter of this year, which is 18.3 percent less than in the same period last year, while total revenues were 54 million euros, a decrease of 23.4 percent compared to last year.

The stock of HT also attracted attention, achieving a turnover of 505 thousand euros, with a price increase of 0.33 percent to 0.6 euros.

Among other business announcements, Zagrebačka banka reported a post-tax profit of 135 million euros in the first quarter, which is 27 million euros or 25 percent higher than in the same period last year. Its price fell by 0.9 percent to 16.75 euros, with a turnover of nearly 340 thousand euros.

Atlantic Grupa reported a net profit of 9.9 million euros in the first quarter, which is 3.2 percent higher than in the same period last year, with sales revenue of 236.6 million euros, representing a 9.8 percent increase compared to the same period last year. The price of Atlantic Grupa’s stock fell by 0.9 percent to 56 euros, with a turnover of 299 thousand euros.

The biggest winner was the stock of Zvečeva, with a price jump of over 114 percent to 24 euros. This confectionery industry reported on Wednesday that the former majority owner of the Požega company and recent CEO Zdravko Alvir sold a total of 213,167 common shares of Zvečeva series A and 74,562 common shares of series B, which constitute 69.25 percent of the share capital. According to a report published on the Zagreb Stock Exchange, Alvir sold the shares of Zvečeva on April 22 to Flexway Adriatic at a price of 23.22 euros per share, totaling 6.68 million euros. The bidder has committed to publish an offer to acquire the remaining shares of Zvečeva within the legal timeframe, upon receiving approval from the Croatian Financial Services Supervisory Agency.

For the ZSE, a total of 61 stocks were traded last week, with the price of 24 rising, the same number falling, and 13 remaining stable.