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KEY STOCKS FOR THE WEEK 30/07—03/08
Sanitas, Lithuanian based manufacturer of pharmaceuticals, has updated its sales, EBITDA and net profit targets for 2007 to LTL 350.2M, LTL 105.8M, and LTL 34.3M respectively. While we consider Sanitas’ H1 result to be better than anticipated, full year forecasts are seen as well below market expectations, putting the price multiples well above its average peer level. We hence see an immediate risk for a strong downward price adjustment to reflect the change.
Apranga, Lithuanian based apparel retail chain, is to announce its July revenue on Wednesday. We expect the figure to reach at least LTL 33.5M in order to satisfy investor expectations, given the recent surge in company’s share price.
Express Grupp, Estonia’s media group, is to announce its H1 result this week. We expect a sales figure of ca EEK 280M to produce an EBITDA of at least EEK 41M, well on target given the share’s current market cap and the multiples it is trading at. An adjustment to the stock price is expected in case the margin proves to be significantly different than expected.
LAST WEEK: INDICES REACH RECORD HEIGHTS... ONLY TO HIT THE BOTTOM HARDER
Lifosa, Lithuanian fertilizer manufacturer, has announced to have increased its year-on-year H1 profit by 4.4 times to LTL 49.2M, on sales increase of +8%. The news saw some very strong reaction by the investors, with share price appreciating by +27.06% during the week.
Sanitas, Lithuanian based manufacturer of pharmaceuticals, has announced its H1 EBITDA to be LTL 59M, besting our expectations by more than +7%. Better than expected result anticipation boosted share prices of both Sanitas and its parent company Invalda by +11.86% and +11.42% respectively.
Vilniaus Baldai, Lithuanian furniture manufacturer, has announced its EBITDA to be LTL 8M for the first half the year (+20% yoy), with the bottom line improving to LTL 0.7M. The result being significantly better than anticipated, share price reflected the favourable result by ending up +5.03% more expensive than the week before.
Baltika, Estonian apparel retailer, has announced its H1 result on Tuesday, where despite continuing high sales growth the company disclosed a huge setback in operating margins, down at 7.5%. Significantly lower than expected, the news drew investors out of the position, with share price seeing a downturn of –12.82% during the week.
PTA Grupp, Estonian apparel retailer, has concluded its public offer of new shares and started trading on the Warsaw Stock Exchange on Monday last week, at a reference price of PLN 19.81 (EUR 5.25). As expected, share price in OMX Tallinn has decreased by –19.56% from EUR 6.75 to a more reasonable EUR 5.43 to accommodate the difference.
Sanitas, Lithuanian based manufacturer of pharmaceuticals, has updated its sales, EBITDA and net profit targets for 2007 to LTL 350.2M, LTL 105.8M, and LTL 34.3M respectively. While we consider Sanitas’ H1 result to be better than anticipated, full year forecasts are seen as well below market expectations, putting the price multiples well above its average peer level. We hence see an immediate risk for a strong downward price adjustment to reflect the change.
Apranga, Lithuanian based apparel retail chain, is to announce its July revenue on Wednesday. We expect the figure to reach at least LTL 33.5M in order to satisfy investor expectations, given the recent surge in company’s share price.
Express Grupp, Estonia’s media group, is to announce its H1 result this week. We expect a sales figure of ca EEK 280M to produce an EBITDA of at least EEK 41M, well on target given the share’s current market cap and the multiples it is trading at. An adjustment to the stock price is expected in case the margin proves to be significantly different than expected.
LAST WEEK: INDICES REACH RECORD HEIGHTS... ONLY TO HIT THE BOTTOM HARDER
Lifosa, Lithuanian fertilizer manufacturer, has announced to have increased its year-on-year H1 profit by 4.4 times to LTL 49.2M, on sales increase of +8%. The news saw some very strong reaction by the investors, with share price appreciating by +27.06% during the week.
Sanitas, Lithuanian based manufacturer of pharmaceuticals, has announced its H1 EBITDA to be LTL 59M, besting our expectations by more than +7%. Better than expected result anticipation boosted share prices of both Sanitas and its parent company Invalda by +11.86% and +11.42% respectively.
Vilniaus Baldai, Lithuanian furniture manufacturer, has announced its EBITDA to be LTL 8M for the first half the year (+20% yoy), with the bottom line improving to LTL 0.7M. The result being significantly better than anticipated, share price reflected the favourable result by ending up +5.03% more expensive than the week before.
Baltika, Estonian apparel retailer, has announced its H1 result on Tuesday, where despite continuing high sales growth the company disclosed a huge setback in operating margins, down at 7.5%. Significantly lower than expected, the news drew investors out of the position, with share price seeing a downturn of –12.82% during the week.
PTA Grupp, Estonian apparel retailer, has concluded its public offer of new shares and started trading on the Warsaw Stock Exchange on Monday last week, at a reference price of PLN 19.81 (EUR 5.25). As expected, share price in OMX Tallinn has decreased by –19.56% from EUR 6.75 to a more reasonable EUR 5.43 to accommodate the difference.
