Bulgarian Stock Exchange Weekly Bulletin – 2024-11-11

TELEMATIC INTERACTIVE WITH ANOTHER DIVIDEND FOR 2024

11 November 2024

Stock Exchange Stats

BSE Weekly Gainers & Losers

Market Overview (04 November – 08 November)

The main Bulgarian index SOFIX increased this week by 0.61% to 859.40 points. The broad index BGBX40 increased this week by 0.30% to 168.63 points and BGREIT decreased this week to 213.43 points, down by 0.27%.

Corporate News

Fairplay Properties (FPP) announced that they had received final approvals and commenced construction of their new project in St. Marina area near Sozopol.

Shelly Group (SLYG) announced they will be having an earnings call on 14.11.2024 at 09:00 CET which can be attended at montega CONNECT. The call will discuss the performance and the consolidated results for the 9 months of 2024, as well as the plans of the company. More about Shelly can be found on our Shelly Group – SIS page.

Bianor / Wiser Technology (BNR) announced a shareholder meeting on 12.12.2024 at 11:00 EET in their office in Synergy Tower, 1floor, Tsarigradsko Shose 111R, Sofia. The main points are to formally change the name of the company to Wiser Technology as well as to get approval for a capital raise, which would give employees ownership of the company.

Telematic Interactive (TIB) announced they are calling a GSM on 06.12.2024 from 11:00 EET in Black&White Club in Grand Hotel Millenium Sofia on 98 Vitosha Blvd, Sofia. Main points include the approval for a dividend distribution in the amount of BGN 0.28 per share, meaning a 9.35% dividend yield considering previous distributions in 2024 and current market price. Their reviews are available at Telematic Interactive Bulgaria AD – SIS.

Economic News

• Construction output grew 5.1% YoY in September, following a downwardly revised 5% rise in the previous month. Output rebounded for building construction (0.3% vs -1.3% in August), while civil engineering works increased at a slower pace (6% vs 7%). On a seasonally adjusted monthly basis, construction output rose 0.4% in September, slowing from a downwardly revised 1.4% growth in August.Producer prices declined by 0.8%YoY in September, reversing a 1.5% rise the previous month. Prices decreased further for the manufacturing sector (-2.3% vs -0.7% in August), while costs moderated for electricity, gas, etc (1.6% vs 7.7%).
• Industrial production advanced by 1% YoY in September, rebounding from a 2.6% drop in the previous month. This marked the first expansion in industrial activity since February 2023, as output sharply recovered for mining & quarrying (30.9% vs 15.3% in August) and electricity and gas (13% vs -10%). Meanwhile, production continued to decline in the manufacturing sector (-1.9% vs -1.7%).
• The consumer confidence indicator fell to -12.2 in the 4th quarter of 2024 from a record high of -8.4 in the previous 3-month period. Consumers were more pessimistic regarding the financial situation for their households for the next 12 months (-4.2 vs 1.3 in Q3) and the economic situation of Bulgaria for the next 12 months (-17.9 vs -14.6).
• Retail sales rose by 4.8% YoY in September, easing slightly from a 4.9% increase in August. Sales increased at a slower pace for non-food products (2.6% vs 4.7% in August 2024) and decreased at a higher rate for automotive fuel in specialized stores (-13.8% vs -6.4%). Meanwhile, sales rose at a slightly higher pace for food, beverages & tobacco (10.5% vs 10.2% in July).

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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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) may or may not own any shares of the companies.

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