TELEMATIC INTERACTIVE SMASHING DIVIDEND YIELD COMPETITION

16 September 2024

Stock Exchange Stats

BSE Weekly Gainers & Losers

Market Overview (9 Sept – 13 Sept)

The main Bulgarian index SOFIX decreased this week by 0.34% to 865.95 points. The broad index BGBX40 decreased this week by 0.33% to 169.31 points and BGREIT increased this week to 202.74 points, up by 1.25%.

Corporate News

Telematic Interactive (TIB) – announced a dividend from the accumulated profit for 2023 in the amount of BGN 0.45 per share, representing a 2.56% dividend yield alone. With that, the total amount of dividends distributed in 2024 will be BGN 2.14, representing 12.16% dividend yield making one of the best dividends distributing stocks on BSE.

Shelly Group (SLYG) announced a GSM on 14/10/2024 at 11:30 am at 1 Makedonia Sq, fl 2, “Globus Congress Center”, “Europe” Hall, Sofia, 1407. The purpose is to approve the transition of the company to an European enterprise (“SE”) and all associated points such as articles of association, renumeration policy, registered auditor, etc.

Korado Bulgaria (KBG) announced a dividend for 2023 in the amount of BGN 0.10 representing a dividend yield of 2%. With that, the total amount of dividends distributed in 2023 stands at BGN 0.29 or a dividend yield of 5.8%.

BREF (BREF) announced the signing of a new lease agreement for their Synergy Tower location. The client is Wiser Technologies (Bianor Holding AD – BNR) and will occupy the entire 15^th floor or 629 sqm. The duration is for 5 yrs and with that the total occupancy of the building goes to 60.82%.

Economic News

• The annual inflation rate edged down to 2.1% in August from 2.4% the previous month, as transport costs fell for the first time in seven months (-0.2% vs 5.3% in July). Prices for clothing & footwear (-2.5% vs -1.5%) and communication (-4.3% vs -5.1%) also declined. On the other hand, prices increased for food & non-alcoholic beverages (2.3% vs 1.5%), housing & utilities (2.8% vs 2.5%), and recreation & culture (2.7% vs 2.4%).
• Construction output eased further to 2.5% YoY in July, from a 2.9% increase in the previous month. Still, this marked the softest expansion since January, as building activity continued to decline (-1.8% vs -1.4% in June), while civil engineering slowed (3.6% vs 6.3%). Meanwhile, output increased at a faster pace (6.3% vs 5.5%).
• Industrial production fell 2.5% YoY in July, slowing from a downwardly revised 4.9% drop the previous month. This marked the softest decline since April, as output decreased less for mining and quarrying (-1.7% vs -16.9% in June) and rebounded sharply for electricity, gas, steam and air-conditioning supply (12.4% vs -18.3%). Meanwhile, output continued to fall for manufacturing (-3.6% vs -2%).
• The trade deficit increased to BGN 787.8 mln in July from BGN 571.1 mln last year. YoY, imports jumped 9.6% to BGN 8,649.7 mln, with purchases rising from non-EU countries (26.5%) and declining from EU countries (-1.4%). The largest growth in imports from third countries was recorded in animal and vegetable oils, fats, and waxes (34.7%). Meanwhile, exports rose at a softer pace of 7.4% to BGN 7,861.9 million, driven by higher sales to the EU (5.4%) and non-EU countries (11.2%). Among commodities, growth in exports was most notable in chemical and related products (11.8%).

Ivaylo Valchev
Equity Analyst
Tel.: +359 2 937 9862
e-mail: valchev@sis.bg

Svetozar Abrashev
Senior Managing Partner
Tel.: +359 2 937 9869
e-mail: abrashev@sis.bg

Sofia International Securities
Sofia 1000,
140 G. S. Rakovski Str.
Tel.: + 359 2 937 98 65
e-mail: info@sis.bg

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