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21.06.2018

Hydraulic Elements & Systems’ May’18 sales up 9.3% YoY, the EBT down 11.2% YoY; June’18 revenue forecast up 2.4% YoY (NEUTRAL)

The May’18 sales of Hydraulic Elements & Systems came to BGN 5.2m, up by 9.3% YoY (-2.8% MoM) and 1.2% lower than the management’s guidance for the month. The preliminary monthly EBT shrank by 11.2% YoY to BGN 576k. The June’18 sales are expected to increase by 2.4% YoY to BGN ...

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21.06.2018

Elhim Iskra to distribute BGN 0.01 gross DPS (NEUTRAL)

The shareholders of Elhim Iskra approved to distribute 0.012 gross DPS, which corresponds to 88.9% payout and 1.0% dividend yield at the last close price of BGN 1.15/share. The distribution of the dividends will begin on 01 August’18.

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21.06.2018

Trace Group Hold about to pay out 0.06 gross DPS

Trace Group Hold is going to distribute BGN 1.5m as dividends for 2017, equivalent to BGN 0.0632 gross DPS. The amount represents 44.5% payout and 1.7% yield at the last close price of BGN 3.62 per share.

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21.06.2018

Sopharma Properties to distribute BGN 0.27 gross DPS (NEUTRAL)

The shareholders of Sopharma Properties voted to distribute a total of BGN 5.5m as dividends for 2017, equivalent to BGN 0.2722 gross DPS. The amount corresponds to 90.8% payout and 4.2% yield at the last close price of BGN 6.55 per share.

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21.06.2018

Fibank receives Ba2 Long-term counterparty risk rating from Moody’s; AGM decides to capitalize earnings

As a result of changes to the rating methodology, on June 20, 2018 Moody’s Investors Service has given Counterparty Risk Rating for 12 banks in Bulgaria, Cyprus and Greece. Fibank received a Ba2 Long-term Counterparty Risk Rating, Local and Foreign Currency and an NP Short-term Counterparty Ri...

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21.06.2018

BSE-Sofia to distribute BGN 0.01566 gross DPS (NEUTRAL)

The AGM of BSE-Sofia approved the distribution of 50% of 2017 NI of BGN 206k, representing a gross DPS of BGN 0.01566. The approved dividend payment will begin in three months from the AGM date, as per a proposal of the majority shareholder - the Ministry of finance. Amongst other agenda items the s...

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21.06.2018

Bulgarian Energy Holding raised EUR 400m Eurobond

State-run Bulgarian Energy Holding has successfully raised EUR 400m Eurobond intended to repay a maturing later this year EUR 500m bond. The notes are seven-year term and carry a 3.5% coupon, priced 297 b.p. over mid swaps and will be listed on the Irish and Bulgarian stock exchanges. BEH has anothe...

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21.06.2018

Sopharma bought back 4 250 own shares (NEUTRAL)

Sopharma announced that it has bought back 4 250 own shares at an average price of BGN 4.24 per share. The buyback has taken place on 21 June 2018, following which the company owned a total of 9 074 656 treasury stocks, equivalent to 6.73% of its share capital.

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20.06.2018

The passengers at Sofia Airport up by 7.6% YoY in April 2018

The number of passengers serviced at Sofia Airport in April’18 increased by 7.6% YoY to slightly over 600k, the airport's operator announced. The aircraft movements during the month grew by 11% YoY to 5 274, while the volume of handled cargo and postal shipments amounted to 1 770 tonnes, up by...

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20.06.2018

Sviloza to distribute BGN 0.03 gross DPS (NEUTRAL)

The shareholders of Sviloza voted to distribute a total of BGN 1.0m as dividends for 2017, equivalent to BGN 0.031 gross DPS. The amount will be distributed from the company’s retained earnings, as its 2017 bottom line came to a net loss of BGN 6.0m. The voted dividend represents 0.7% yield at...

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20.06.2018

Sopharma bought back 2 200 own shares (NEUTRAL)

Sopharma announced that it has bought back 2 200 own shares at an average price of BGN 4.25 per share. The buyback has taken place on 20 June 2018, following which the company owned a total of 9 070 406 treasury stocks, equivalent to 6.73% of its share capital.

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20.06.2018

Mobile marketing solutions provider Leanplum acquire Connecto.ai

The San Francisco based mobile marketing solutions provider Leanplum has acquired Bulgarian chatbot start-up Connecto.ai. The acquisition will expand Leanplum’s Bulgarian office by 10 people to 40, with plans on growing further. 2017 was the first full year Connecto.ai was operational and it b...

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19.06.2018

Bulgaria’s 4-mo’18 CA deficit at 0.4% of the GDP; the YTD FDI down 50.7% YoY

Bulgaria’s 4-mo 2018 current account came to a deficit of EUR 201.6m (0.4% of the expected 2018 GDP*) vs. a deficit of EUR 183.5m (0.4% of the GDP) for the year-ago period. The January-April’18 trade deficit was EUR 1 154.5m (2.2% of the GDP), compared to a deficit of EUR 869.3m (1.7% of...

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19.06.2018

Gradus raised BGN 81.4m from its IPO

The IPO of Gradus was successful, as a total of 45 217 420 shares were subscribed at the minimum price of BGN 1.8 per share, after another 1 255 542 shares were subscribed on the second and last day of the IPO auction. Given the raised amount, the more significant investments of proceeds would inclu...

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19.06.2018

Toplivo extended its buyback procedure (NEUTRAL)

The BoD of Toplivo extended the period during which the company can repurchase own shares until 31 December 2018. Please recall that the shareholders approved a buyback procedure at a minimum price of BGN 3.5 and a maximum price BGN 10.0 per share, where the company can buy back up to 20 000 stocks,...

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19.06.2018

Industrial Holding-Doverie increases Hydroizomat stake, passing mandatory tender offer threshold (NEUTRAL)

Industrial Holding-Doverie, a daughter company of Doverie United Holding has increased its stake in Hydroizomat to 89.05% from 60.5%, by acquiring 14.3% and 14.1% stakes from Sopharma and Doverie United Holding, respectively. The transaction has caused the stake to pass the 2/3 equity stake threshol...

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18.06.2018

Gradus raised BGN 79.1m on the first day of the IPO auction

The IPO of Gradus is successful, as a total of 43 961 878 shares were subscribed on the first day of the auction at the minimum possible price of BGN 1.8 per share. The auction would continue today, when the remaining 11 593 678 unsubscribed shares would be offered to the public at the same price ra...

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18.06.2018

BSE-Sofia to distribute BGN 0.016 gross DPS (NEUTRAL)

The shareholders of Bulgarian Stock Exchange Sofia voted to distribute a total of BGN 103k as dividends for 2017, equivalent to BGN 0.01566 gross DPS. The voted amount corresponds to 50% payout and 0.27% yield at the last close price of BGN 5.8 per share.

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18.06.2018

Sopharma bought back 2 272 own shares (NEUTRAL)

Sopharma announced that it has bought back 2 272 own shares at an average price of BGN 4.25 per share. The buyback has taken place on 15 June 2018, following which the company owned a total of 9 068 100 treasury stocks, equivalent to 6.73% of its share capital.

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15.06.2018

The unemployment rate down by 0.3 p.p. MoM to 6.1% in May’18

The unemployment rate in May’18 decreased by 0.3 p.p. MoM to 6.1% (-1.0 p.p. YoY), according to the National Employment Agency. A total of 200 458 unemployed were registered at the end of the month. The number of people who found a job during the month was 19 963, down by 2 086 MoM.

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