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KEY STOCKS FOR THE WEEK 09/07—13/07
Vilniaus Baldai, Lithuanian furniture manufacturer, has announced June revenue of LTL 14.1M, a nearly +60% increase year-on-year, and improving the 6-month revenue growth figure to +41%. The better than anticipated revenue growth is expected to help the company best its profit estimates and, concurrently, its share price.
Olympic Entertainment Group, has, in line with its previously announced expansion strategy, signed an agreement to acquire one of Ukraine’s largest casino operators Eldorado for EUR 9.2M. We expect the news to fuel investor interest in the stock, resulting in positive price development during the week.
Siauliu Bankas has announced an H1 profit of LTL 20.5M, which we estimate to significantly (at least +25%) higher than forecasted. The share price is expected to see upward adjustment during the week. Additionally, we expect the whole Lithuanian banking sector shares (Ukio Bankas, Bankas Snoras) to benefit, due to their close correlation in besting expected results.
Sanitas, Lithuanian based manufacturer of pharmaceuticals, has announced June sales of LTL 33.5M, a +68.1% yearly improvement. To be noted is the fact that this is the first directly comparable month since Jelfa’s acquisition last year, and high revenue growth figures have already triggered the management to call for a
sales and profitability target review. We expect the news to increase investor confidence in the stock and help the share retain or even improve on its recently achieved price increase.
Lithuanian energy sector shares, especially those of Lietuvos Energija and Vakaru Skirstomieji Tinklai, are expected to suffer a setback, as lack of news regarding their upcoming merger and the construction of nuclear plant is expected to end the recent speculative upward push of their prices. Due to otherwise low liquidity,
this could lead to a sizeable downward correction.
LAST WEEK: INVESTORS SPEND THEIR HOLIDAYS IN THE MARKET... AS RAINY SUMMER CALLS FOR SHARE PRICE BOOM
City Service, Lithuania’s leader in facility management services, has announced acquisition of Namu Prieziuros Centras, expanding its core business portfolio. The company has also signed an agreement with Lithuania’s leading restaurant operator Cilija for servicing its entire Lithuanian network consisting of 43 objects. The deal also leaves room for further expansion in Cilija’s international network. The share price closed +8.9% during the week.
Panevezio Statybos Trestas, Lithuanian based construction company, has closed an LTL 170M subcontracting deal with BIG (Baltic Investment Group). The news triggered a +5.12% share price increase during the week.
Lithuanian banking sector shares, Ukio Bankas, Siauliu Bankas, and Bankas Snoras, have seen their share prices rise during the week, in anticipation of good sector results due for announcement shortly. Share prices rose +6.09, +8.6%, and +4.09% accordingly.
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Mantas Pakėnas
Kapitalo rinkų skyrius / Capital Markets Unit
DnB NORD Investment Banking
J. Basanavičiaus g. 26, 03601 Vilnius
Tel./phone: +370 5 2393776
Faksas/fax: +370 5 2393783
El. paštas/e-mail: mantas.pakenas@dnbnord.lt
Vilniaus Baldai, Lithuanian furniture manufacturer, has announced June revenue of LTL 14.1M, a nearly +60% increase year-on-year, and improving the 6-month revenue growth figure to +41%. The better than anticipated revenue growth is expected to help the company best its profit estimates and, concurrently, its share price.
Olympic Entertainment Group, has, in line with its previously announced expansion strategy, signed an agreement to acquire one of Ukraine’s largest casino operators Eldorado for EUR 9.2M. We expect the news to fuel investor interest in the stock, resulting in positive price development during the week.
Siauliu Bankas has announced an H1 profit of LTL 20.5M, which we estimate to significantly (at least +25%) higher than forecasted. The share price is expected to see upward adjustment during the week. Additionally, we expect the whole Lithuanian banking sector shares (Ukio Bankas, Bankas Snoras) to benefit, due to their close correlation in besting expected results.
Sanitas, Lithuanian based manufacturer of pharmaceuticals, has announced June sales of LTL 33.5M, a +68.1% yearly improvement. To be noted is the fact that this is the first directly comparable month since Jelfa’s acquisition last year, and high revenue growth figures have already triggered the management to call for a
sales and profitability target review. We expect the news to increase investor confidence in the stock and help the share retain or even improve on its recently achieved price increase.
Lithuanian energy sector shares, especially those of Lietuvos Energija and Vakaru Skirstomieji Tinklai, are expected to suffer a setback, as lack of news regarding their upcoming merger and the construction of nuclear plant is expected to end the recent speculative upward push of their prices. Due to otherwise low liquidity,
this could lead to a sizeable downward correction.
LAST WEEK: INVESTORS SPEND THEIR HOLIDAYS IN THE MARKET... AS RAINY SUMMER CALLS FOR SHARE PRICE BOOM
City Service, Lithuania’s leader in facility management services, has announced acquisition of Namu Prieziuros Centras, expanding its core business portfolio. The company has also signed an agreement with Lithuania’s leading restaurant operator Cilija for servicing its entire Lithuanian network consisting of 43 objects. The deal also leaves room for further expansion in Cilija’s international network. The share price closed +8.9% during the week.
Panevezio Statybos Trestas, Lithuanian based construction company, has closed an LTL 170M subcontracting deal with BIG (Baltic Investment Group). The news triggered a +5.12% share price increase during the week.
Lithuanian banking sector shares, Ukio Bankas, Siauliu Bankas, and Bankas Snoras, have seen their share prices rise during the week, in anticipation of good sector results due for announcement shortly. Share prices rose +6.09, +8.6%, and +4.09% accordingly.
----------------
Mantas Pakėnas
Kapitalo rinkų skyrius / Capital Markets Unit
DnB NORD Investment Banking
J. Basanavičiaus g. 26, 03601 Vilnius
Tel./phone: +370 5 2393776
Faksas/fax: +370 5 2393783
El. paštas/e-mail: mantas.pakenas@dnbnord.lt
