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KEY STOCKS FOR THE WEEK 09/04—13/04
TEO LT, Lithuania’s incumbent telecommunications company, has announced the closing of a deal with “Mikrovisatos TV” to start broadcast of DVB-T service from the 1st of July 2007. This ends months of uncertainty for TEO LT and its already built DVB-T network. Demand should be further supported by investors trying to profit from the company’s dividend, yielding 9.2% before the ex-dividend date of 19th of April.
Ukio Bankas is set to release its Q1 results during week 15, which could make the stock an interesting target once again. Due to the fact that company’s shares refused to obey the market laws and drop in price due to dividend payments and dilution, it seems that market places high expectations for the company (namely, an almost +15% premium). In order to justify the current P/E ratio, we expect the results to be at least 15% above expectations, resulting in Q1 profit of at least LTL 17.65M, which corresponds to an annual profit of LTL 70.6M
LAST WEEK IN THE BALTIC STOCK MARKETS: MARKETS TURN BULLISH AGAIN...
Result driven valuation is back to business
Operator of apparel retail chain Apranga has released figures of its Q1 revenue last week, besting its own expectations by LTL 10M to a total figure of LTL 91.8M, up by 58.6% year-on-year. The company looks to be firmly en route to achieve its goal of LTL 415M turnover in 2007, and LTL 1000M by the end of 2010. Together with the news that the company will be opening a total of 9 new shops in Lithuania’s 2nd biggest shopping mall due to be opened on the 10th of April, the share price enjoyed steady growth throughout the week, closing +9.2% higher.
Latvian press announced that manufacturer of digital radio transmission equipment, SAF Tehnika, is dangerously losing market share and is expected to turn in a loss for the year 2007. The company has already taken action by attempting to cut costs at the expense of reduced compensation for the management and other personnel by 30% and 15% respectively. This didn’t improve the so far poor company’s share performance, however, suffering a further setback of –9% during the course of the week.
Olympic Entertainment Group’s shares have enjoyed a rise of 11.3% on weekly basis, after the company announced its intent to split shares 2 for 1, as well as proposing a dividend of EUR 0.13 per share (1.11% yield). This is also likely to indicate a still strong and continuing reaction to company’s aggressive expansion plans announced earlier.
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Mantas Pakėnas
Akcijų analitikas / Equity Analyst
Kapitalo rinkų skyrius / Capital Markets Unit
AB DnB NORD bankas
Tel: (370) 5 239 3776
Fax: (370) 5 239 3783
Mantas.Pakenas@dnbnord.lt
TEO LT, Lithuania’s incumbent telecommunications company, has announced the closing of a deal with “Mikrovisatos TV” to start broadcast of DVB-T service from the 1st of July 2007. This ends months of uncertainty for TEO LT and its already built DVB-T network. Demand should be further supported by investors trying to profit from the company’s dividend, yielding 9.2% before the ex-dividend date of 19th of April.
Ukio Bankas is set to release its Q1 results during week 15, which could make the stock an interesting target once again. Due to the fact that company’s shares refused to obey the market laws and drop in price due to dividend payments and dilution, it seems that market places high expectations for the company (namely, an almost +15% premium). In order to justify the current P/E ratio, we expect the results to be at least 15% above expectations, resulting in Q1 profit of at least LTL 17.65M, which corresponds to an annual profit of LTL 70.6M
LAST WEEK IN THE BALTIC STOCK MARKETS: MARKETS TURN BULLISH AGAIN...
Result driven valuation is back to business
Operator of apparel retail chain Apranga has released figures of its Q1 revenue last week, besting its own expectations by LTL 10M to a total figure of LTL 91.8M, up by 58.6% year-on-year. The company looks to be firmly en route to achieve its goal of LTL 415M turnover in 2007, and LTL 1000M by the end of 2010. Together with the news that the company will be opening a total of 9 new shops in Lithuania’s 2nd biggest shopping mall due to be opened on the 10th of April, the share price enjoyed steady growth throughout the week, closing +9.2% higher.
Latvian press announced that manufacturer of digital radio transmission equipment, SAF Tehnika, is dangerously losing market share and is expected to turn in a loss for the year 2007. The company has already taken action by attempting to cut costs at the expense of reduced compensation for the management and other personnel by 30% and 15% respectively. This didn’t improve the so far poor company’s share performance, however, suffering a further setback of –9% during the course of the week.
Olympic Entertainment Group’s shares have enjoyed a rise of 11.3% on weekly basis, after the company announced its intent to split shares 2 for 1, as well as proposing a dividend of EUR 0.13 per share (1.11% yield). This is also likely to indicate a still strong and continuing reaction to company’s aggressive expansion plans announced earlier.
----------
Mantas Pakėnas
Akcijų analitikas / Equity Analyst
Kapitalo rinkų skyrius / Capital Markets Unit
AB DnB NORD bankas
Tel: (370) 5 239 3776
Fax: (370) 5 239 3783
Mantas.Pakenas@dnbnord.lt
