СЕДМИЧЕН БЮЛЕТИН НА СИС С НАЙ-ВАЖНИТЕ СЪБИТИЯ НА БЪЛГАРСКИЯ КАПИТАЛОВ ПАЗАР:
BULGARIAN MARKET RECOVERS LOSSES AMIDST POSITIVE ECONOMIC DATA
Market Overview ( September 6th – September 10th )
The main Bulgarian index SOFIX increased by 0.42% this week, up to 563.08 points. The broad index BGBX40 increased by 0.98% to 129.38 points. BGREIT also increased this trading week to 163.48 points, up by 1.29%.
Bianor Holding (BNR) released its consolidated financial results for the first half calendar year of 2021. The revenue of the group has decreased by 17.68% YoY to BGN 1.71mln. Meanwhile, the operating expenses have increased by 18.2 mainly due to a rise in labor costs. The company ends the period with an operating loss of BGN 395,000. In its financial statement, the company mentions that a significant portion of the revenue is still generated from a small number of large clients. The five largest clients are responsible for 97% of the whole revenue. It also announced that the development of the product business will lead to a higher revenue stream, resulting in weaker dependence from the large customers.
Telelink Business Services Group AD (TBS) confirmed that it will pay out over BGN 10.25mln dividend for the first half of 2021, which also is BNG 0.82 per share. During the previous trading week, the company’s stock soared nearly 13%. Currently, its dividend yield is approximately 5%.
Bulgaria’s GDP rebounded by 9.9 percent from a year earlier in the second quarter of 2021, the highest for the past 30 years. On a quarterly basis, Bulgaria’s GDP edged up 0.6%, after a 2.5% increase in the first quarter of the year. Bulgaria’s industrial output rose 8.3 percent year-on-year in July of 2021, easing from an upwardly revised 10.5 percent increase in the previous month. Retail sales in Bulgaria rose 20.2 percent year-on-year in July of 2021, easing from a 22.7 percent increase in the previous month.
Active COVID-19 cases in Bulgaria are on a decreasing trend with a 7-day MA of 1,320 cases. The total number of fully vaccinated people so far is 1,090mln, which is 15.5% of the population in Bulgaria.
You can access the pdf file here.
The analyst (s) responsible for the preparation of this document shall ensure that: (1) they take all necessary care to accurately reflect the information contained in this document; (2) no part of the analyst’s remuneration is, has been or will be linked, directly or indirectly, to the recommendation or opinions expressed in this document.
Financial interest: Sofia International Securities may trade or own the financial instruments specified in this document. Sofia International Securities does not own more than 5% of the financial instruments in circulation, subject to analysis or comment in this document. The analyst (s) do not own any shares of the companies, unless explicitly mentioned.
Disclosure of information
Due care has been taken to ensure the accuracy of the facts cited, the reliability of the sources of information and the clear definition of the assumptions, predictions, forecasts and expected prices in this document. The information presented in this document is based on publicly available information, which is considered reliable, but for which no responsibility is taken for completeness and accuracy. Neither Sofia International Securities nor the company’s employees should be held responsible for the publicly available information used. The opinion expressed in this document may differ from the disclosed views in other departments and divisions of Sofia International Securities or from other employees. Additional information on this document is available upon request. The sources of information in the tables and graphs in this document are calculations by Sofia International Securities, unless otherwise stated.
Risks for investors
This document has been prepared and presented for the purpose of summary and informational purposes only and does not constitute a study within the meaning of Art. 13 of Commission Delegated Directive (EU) 2017/593 of 7 April 2016. The information in this document should not be considered as an offer to buy or sell financial instruments or an independent investment council within the meaning of Directive 2014/65 / EU of The European Parliament and the Council of 15 May 2014, Sofia International Securities AD has not assessed the appropriateness in relation to the financial instruments mentioned in this document. The investment opportunities discussed in this document may not be appropriate for certain investors depending on their investment objectives and time horizon or in the context of their overall financial condition. The risks associated with investing in the financial instruments mentioned in this document are not fully explained. The price or value of the investment may decrease or increase. Securities or investments can lead to losses for the investor. A previous achievement is not a guarantee of future performance. Changes in exchange rates may have an adverse effect on the value, price or return on investment in securities. Sofia International Securities AD assumes no responsibility for losses incurred in connection with investments made on the basis of information contained in this document.
The analyzes of Sofia International Securities are the exclusive property of the investment intermediary and any publication, distribution, reprinting and citation of content is possible only after the explicit written consent of the „Research and Analysis“ department of the company. It is not allowed to use the analyzes of the investment intermediary from a third party for commercial purposes.