A PEEK INTO THE AUGUST PERFORMANCE

Market Overview ( September 13th – September 17th )

The main Bulgarian index SOFIX increased by 1.37% this week, up to 564.03 points. The broad index BGBX40 increased by 2.19% to 132.23 points. BGREIT increased this trading week to 161.58 points, up by 0.29%.

Corporate News                                                      

Stara Planina Hold AD (SPH), M+S Hydraulic AD (MSH), and Hydraulic Elements and Systems (HES) reported numbers for the first 8-months of the year.

Stara Planina Hold AD had grown its consolidated revenue by 36.66% year over year. It is expected that it will mark nearly 40% sales growth for the first 9 months YoY.

M+S Hydraulic AD reports sales of BGN 11.2 mln for August and BGN 96.2 mln for the first 9 months. and interim unofficial gross profit of BGN 964 thousand for August.

Hydraulic Elements and Systems AD announced unofficial financial results for July and August – BGN 692 thousand and BGN 6.2 mln for the first 8 months. This result is nearly doubled compared to the first 8 months of 2020.

Bianor Holding AD (BNR) announced that it will pay out BGN 1.4mln dividend from the company’s retained earnings, representing BGN 2.08 per share. The company’s shareholders have also decided “Bianor” to buy back up to 20,256 shares, or 3% of the total number of issued shares.

Economic News                                                       

On September 20, the Ministry of Finance successfully placed 10-year Government Treasury Notes for a total nominal value of BGN 300 million at a weighted average annual return of 0.20%. At the end of July, the Debt-to-GDP ratio was 23.9%.

Active COVID-19 cases in Bulgaria are flat a 7-day MA of 1,507 cases. The active cases at the end of the week were 41,874. The total number of fully vaccinated people so far is 1,309 mln, which is 18.84% of the population in Bulgaria.

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