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26.06.2017

Monbat to acquire lithium ion batteries manufacturing companies in Germany (POSITIVE)

Monbat would acquire 100% of the German lithium ion batteries producers Gaia and EAS, following, which it would merge the two into one entity, EAS Batteries GmbH, based in Nordhausen, Germany. The newly acquired technologies could address many high-power applications niches, such as aerospace, defen...

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26.06.2017

Neochim will distribute BGN 1.3 gross DPS (NEUTRAL)

The shareholders of Neochim voted to distribute a total of BGN 3.4m as dividends for 2016 (+62.5% YoY), or BGN 1.3 gross DPS, equivalent to 12.1% payout and 2.3% dividend yield at the last close of BGN 57.0 per share.

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26.06.2017

Korado to vote on 1-for-2 stock dividend (NEUTRAL)

Korado-Bulgaria called an ESM, scheduled for 09 August’17, to vote on 1-for-2 stock dividend, by which the total issued shares would become 13.168m.

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26.06.2017

Bulgartabac subsidiary acquired electronics retailer Technomarket

Blagoevgrad BT, the manufacturing subsidiary of tobacco holding Bulgartabac Holding, has acquired a controlling stake in household electronics retailer Technomarket. According to the Capital daily publication, the company, which has assets of BGN 191.7m and revenue of BGN 300m was acquired by Blago...

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23.06.2017

Bulgaria could spend BGN 3.54bn on a rearmament programme over 2017-2029

Bulgaria’s Ministry of Defence proposed a BGN 3.5bn rearmament programme for 2017-2029. The proposition envisions acquiring a combat aircraft for BGN 1.5bn, multipurpose modular patrol vessels for BGN 0.8bn, and military equipment for land forces for BGN 1.2bn. The programme is yet to be appro...

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23.06.2017

Monbat’s May’17 cons sales up 24.6% YoY; the monthly EBT up 12.6% YoY (POSITIVE)

Monbat’s May’17 consolidated revenue grew by 24.6% YoY (-14.0% MoM) to BGN 19.8m. The monthly EBITDA added 8.4% YoY to BGN 4.5m and the EBT surged by 12.6% YoY to BGN 3.0m. The total YTD sales increased by 26.9% YoY to BGN 121.1m, while the EBITDA advanced by 23.2% YoY to BGN 23.1m, whe...

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23.06.2017

Speedy will distribute BGN 1.13 gross DPS

The shareholders of Speedy voted to distribute a total of BGN 6m dividends for 2016, or BGN 1.13 gross DPS, equivalent to 78.0% payout and 2.6% dividend yield at the last close of BGN 43.0 per share. A new bonus package for the BoD members for 2017 was approved, consisting of BGN 100 000, based on f...

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23.06.2017

Yuri Gagarin to acquire polygraphic business for BGN 11m

The Board of Directors of Yuri Gagarin has decided to acquire Sofia Print Investment, a polygraphic production of print publications business. The total consideration is BGN 11m and includes 100% of the capital of Sofia Print Investment and a receivable of the seller from the same company. The parti...

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22.06.2017

Sopharma Trading to acquire the Serbian distributor Lekovit (POSITIVE)

Sopharma Trading has announced its intention to acquire a majority stake in the Serbian pharmaceutical wholesaler Lekovit. The current shareholder in Lekovit, Dr. Dragan Petrovic will keep a minority stake and will continue contributing to the further development of the company on the CEO position. ...

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22.06.2017

Stara Planina Hold’s consolidated May’17 revenue up 20.4% YoY; the June sales foreseen up 5.3% YoY (NEUTRAL)

The May’17 preliminary consolidated sales of Stara Planina Hold increased by 20.4% YoY (+3.7% MoM) to BGN 17.9m, which is 1.4% higher than the management guidance for the month. The consolidated June’17 sales are foreseen to add 5.3% YoY to BGN 19.1m (+6.5% MoM), thus bringing the 6-mo 2...

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22.06.2017

Elhim Iskra’s May’17 sales down 2.4% YoY, the EBT down 80.1% YoY; the June’17 revenue foreseen up 6.4% YoY (NEUTRAL)

The June’17 sales of Elhim Iskra came to BGN 2.4m, down by 2.4% YoY (-14.1% MoM) and 6.6% lower than the management’s forecast for the month. The preliminary EBT for the month fell 80.1% YoY to BGN 30k. The June’17 sales are expected to increase by 6.4% YoY to BGN 3.1m, which would...

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22.06.2017

CEZ Distribution approved BGN 25.40 gross DPS (NEUTRAL)

The shareholders of CEZ Distribution voted to distribute a total of BGN 49m as dividends, or BGN 25.40 gross DPS for 2016, equivalent to 9.6% dividend yield at the last price of BGN 265.00. This would be the third dividend payment in the company’s history, after distributing BGN 48m in 2014 an...

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22.06.2017

Fort Ltd.’s has increased its stake in Unipack to 96.69% (NEUTRAL)

Fort Ltd.’s has raised its direct stake in Unipack to 96.69% from 94.62% prior to its tender offer at BGN 9.84 per share. A total of 42 shareholders who owned 47 108 Unipack shares have accepted the buyout bid.

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21.06.2017

M+S Hydraulic’s May’17 sales up 22.5% YoY, the EBT down 51.6% YoY; The June’17 revenue foreseen up 14.2% YoY (NEUTRAL)

The May’17 sales of M+S Hydraulics came to BGN 9.6m, up by 22.5% YoY (+18.8% MoM) and 5.2% above the management guidance for the month. The preliminary EBT for the month was down 51.6% YoY to BGN 1.7m. The June’17 sales are expected to increase by 14.2% YoY to BGN 9.9m, which would bring...

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21.06.2017

Hydraulic Elements & Systems’ May’17 sales up 21.6% YoY, the EBT up 21.3% YoY; June’17 revenue foreseen up 18.0% YoY (NEUTRAL)

The May’17 sales of Hydraulic Elements & Systems came to BGN 4.8m, up by 21.6% YoY (+2.2% MoM) and 1.0% lower than the management’s forecast for the month. The preliminary EBT for the month added 21.2% YoY to BGN 649k. The June’17 sales are expected to increase by 18.0% YoY to ...

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21.06.2017

Sopharma has increased its stake in Unipharm to 96.63% (NEUTRAL)

Sopharma has raised its direct stake in Unipharm to 96.63% from 77.88% prior to its tender offer at BGN 4.35 per share. A total of 65 shareholders who owned 1 125 021 Unipharm shares have accepted the buyout bid.

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21.06.2017

Unipharm will distribute BGN 0.04 gross DPS (NEUTRAL)

The shareholders of Unipharm voted to distribute a total of BGN 240k as dividends for 2016, or BGN 0.04 gross DPS, corresponding to 84.9% payout and 0.9% dividend yield at the last price of BGN 4.31 per share.

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21.06.2017

Five applicants go through to the next stage of Belgrade Airport concession race

Five applicants, a consortium between Meridiam Eastern Europe Investments, Zurich Airport and Eiffage, an Indian-Greek consortium between GMR Infrastructure and Terna, a South Korean-Turkish-Cypriot consortium made up of Incheon International Airport Corporation, Yatirimlari ve Isletme and VTB Capit...

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20.06.2017

New record low yield on Bulgaria’s 4-years government bonds

Bulgaria issued BGN 50m government bonds, maturing on 22 February 2021 at 0.05% yield. The issue was placed at a spread of 59 basis points relative to the German Bunds. The filed subscription orders totalled BGN 103m, making a bid-to-cover ratio of 2.06. Around 79.6% of the issue was subscribed by b...

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20.06.2017

The shareholders of Sirma Group Holding approved a share buyback procedure (NEUTRAL)

The shareholders of Sirma Group Holding authorized the management to launch a share buyback procedure for up to 1.0m shares, equivalent to 1.7% of the group’s registered capital. The minimum buyback price is BGN 0.50/share and the maximum is BGN 1.50/share. The term of the buyback procedure is...

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