1 2 3 ENHL

November 21, 2014
The last day of this trading week at the Belgrade Stock Exchange was marked by the for 22% bigger
turnover compared with previous trading day, while the main indices have ended this week in a green
zone. Index of the most liquid stocks BELEX15 has increased by +0.30%, while index BELEXline went up
by +0.26% of its value, reaching the value of 689.25 and 1,369.50, respectively. Total turnover
amounted in RSD 39.80 million (€ 0.33 million), and all was made in trading with shares. The most active
were stocks of Prime Listing member, our biggest construction company, Energoprojekt holding (ENHL):
935; +1.63% with turnover amounted to RSD 12.71m and volume of 13,603 stocks traded, which was
responsible for 31.94% of the total daily turnover. On the Standard Listing the most traded were shares
of heating devices manufacturer, Alfa plam from Vranje (ALFA): 18,000; +2.86%; RSD 10.76m, while on
the Open Market, turnover of RSD 9.45m was made by the regular stocks of financial institution from
Nis, AIK banka (AIKB): 1,890; +0.43%. Two more members of the Prime Listing have made turnover that
was bigger than RSD 1.00m, Naftna industrija Srbije (NIIS): 818; +0.99% and Aerodrom ‘Nikola Tesla’
(AERO): 852; -0.23% with RSD 3.65m and RSD 1.05m made in realization, respectively. The winners were
led by the stocks of Luka Dunav (LKDN): 7,999; +14.27% and Progres u restrukturiranju (PRGS): 21;
+5.00%, while among the losers, the worst results were made by the shares of Impol Seval (IMPL): 900; 6.25% and Mlekara from Subotica (MLSU): 1,500; -3.23%.
800
Belex15
600
400
200
0
jan mar maj jul
sep nov jan mar maj jul
sep nov
Easier domestic defense industry products placemnet - Serbia gets certificate on codification
IEL starts construction of wind park in Basaid in 2015 - French investor pours EUR 50 m in the…
Truck lite trains new staff - Cuprija verifies contract with German investor for the construction...
1
2
3
Symbol
Price
ENHL
ALFA
AIKB
NIIS
AERO
Change
935
18.000
1.890
818
852
High
1,63%
2,86%
0,43%
0,99%
-0,23%
Low
935
18.000
1.890
825
860
Ask
913
18.000
1.890
810
850
Bid
23.661
684
8.378
16.982
5.111
Value
(in 000
EUR)
105,94
89,69
78,74
30,43
8,73
Volume
15.705
927
5.185
11.222
5.252
13.603
598
5.000
4.473
1.230
Index
Index Close
Daily Change
1-m Change
3-m Change
YTD Change
Belex15 BelexLine
689,25 1.369,50
0,30%
0,26%
-1,24%
-1,73%
11,28% 10,89%
23,53% 23,95%
SRX
208,42
0,45%
-1,95%
7,53%
19,36%
Turnover
IMPL
14,27%
-6,25%
MLSU
-3,23%
KOPB
-3,13%
IMLK
5,00%
-8%
-6%
4,00%
-4%
-2%
0%
0%
5%
Series
A2015
A2016
Yield
3,00%
Bonds
0
PRGS
Total
Total EUR
SJPT
1,91%
-0,23%
LKDN
PLNN
2,38%
AERO
39.804.502
ALFA
2,86%
-2,27%
Stocks
10%
Price
Change
98,55
94,80
-
15%
Value
0
0
Yield
2,83%
3,56%
39.804.502
331.650
Stocks performance
Active
Gainers
Loosers
No Change
23
11
6
6
Foreign Investors Participation
FIS
65,63%
FIB
0,00%
FIT
65,63%
Exchange rate
EUR/RSD
USD/RSD
2,00%
1,00%
125,00
0,00%
120,0195
95,6636
Daily change
-0,29%
-0,29%
EURO
A2016
A2015
115,00
105,00
95,00
NOTE: block trading excluded from report, BELEXline members included; All prices is in RSD
85,00
jan mar maj jul sep nov jan mar maj jul sep nov
Symbol
AERO
AIKB
ALFA
ENHL
FITO
GMON
IMLK
JESV
KMBN
MTLC
NIIS
SJPT
TGAS
Price
852
1.890
18.000
935
3.600
2.251
4.300
6.002
2.616
2.200
818
694
5.450
Change
High
-0,23%
0,43%
2,86%
1,63%
0,00%
0,00%
-2,27%
0,00%
0,00%
0,00%
0,99%
1,91%
0,00%
860
1.890
18.000
935
3.600
2.251
4.300
6.002
2.616
2.200
825
700
5.450
* Data are from the financial statements for Q2 2014.
Low
Volume
Value
(in 000 EUR)
850
1.890
18.000
913
3.600
2.251
4.300
6.002
2.616
2.200
810
675
5.450
1.230
5.000
598
13.603
0
0
1
0
0
0
4.473
617
0
8,73
78,74
89,69
105,94
0,00
0,00
0,04
0,00
0,00
0,00
30,43
3,57
0,00
MCAP
(in mln EUR)
243,41
142,45
26,22
85,16
39,59
4,82
287,97
15,24
189,83
18,70
1.111,35
86,13
47,07
1,32
0,38
0,58
1,27
1,03
0,48
3,37
0,82
0,69
0,74
0,75
0,97
0,45
P/E
ttm*
61,03
13,24
6,95
8,89
6,48
4,14
8,25
6,26
4,97
7,03
2,38
-
Median
0,75
6,48
P/B *
ROA
ttm*
1,84%
0,80%
6,84%
3,66%
11,59%
8,86%
11,05%
2,97%
1,21%
4,38%
15,79%
-2,14%
-5,48%
ROE
ttm*
2,05%
2,38%
8,18%
8,51%
13,78%
13,51%
29,38%
5,97%
6,79%
7,40%
32,81%
-3,82%
-6,30%
3,66%
7,40%
Powered by:
EASIER DOMESTIC DEFENSE INDUSTRY PRODUCTS PLACEMNET - SERBIA GETS CERTIFICATE
ON CODIFICATION
The Serbian Ministry of Defense and NATO agency for support, signed in Luxembourg a certificate (Tier 2) on full
capability of Serbia in NATO codification system for the affairs of codification of arms and military equipment.
The document, which will facilitate placement of products of domestic defense industry abroad, was signed at the
meeting of the Main group of NATO committee for codification, the Ministry of Defense reported at its website today.
The certificate was signed by the NATO committee for codification, colonel, Marek Dalkovski and the head of the
Directorate for standardization, codification and metrology, colonel Zoran Spasojevic. The NATO codification system
implementation process at the Ministry of Defense and the Army of Serbia started in 2010, and it ended in May 2013
with the testing of ability of National codification Bureau of Serbia.
IEL STARTS CONSTRUCTION OF WIND PARK IN BASAID IN 2015 - FRENCH INVESTOR POURS EUR
50 M IN THE FACILITY WITH 50 MW
French IEL OIE Balkan Renewable Energy will start in 2015 a construction of wind park in Basaid at Kikinda, eKapija
finds out at the company.
- The construction should start in 2015, but the exact date depends on all necessary permits - Natasa Lazarevic, the
head of IEL in Serbia said for our portal.
The project as for now has been running in line with the planned dynamics. Namely, November 19, the Detailed
regulation plan of wind park in Basaid developed by Nis-based "IST urban" was presented.
As Dejan Rajcic, a co-owner of IST urban told us, Detailed regulation plan of wind parks has been at public inspection
which will last until December 8.
- We expect that during December, the Plan will be distributed to the Assembly of Kikinda for adoption. After that, the
investor will ask for location and construction permit. We expect that with the new Law on planning and construction,
investors can get permits more easily.
The power of the wind park at Kikinda will be of some 50 megawatts. The planned wind park complex comprises up to
24 wind generators with internal power transmission station with a road network and infrastructure for wind parks
functioning.
According to Detailed regulation plan, the suface of the base of the wind generator ground is in the shape of a circle
with a diameter of 30 m, the biggest allowed power of individual wind generator totals 3 MW. Maximal height of wind
generators with a propeller totals 207 m, while maximal rotor propeller diameter is planned to be 122 m.
The French investor is planning investments in wind park of 36 MW in Mali Crnic As we were told at IEL, Detailed
regulation plan development for the facility has been in progress.
TRUCK LITE TRAINS NEW STAFF - CUPRIJA VERIFIES CONTRACT WITH GERMAN INVESTOR FOR
THE CONSTRUCTION OF NEW PLANT
By March next year, Truck lite should get a permit for the construction of the plant in Cuprija. Deadline for the plant
construction end is the end of next year, it was defined in the contract signed yesterday in Belgrade by the president
of municipality, Ninoslav Eric and GM of the company in the field of production of automotive lightning, Truck lite,
Sven Milhauzen. The town at the Velika Morava river will thus get the first “greenfield investment after a century.
Municipal management sees the investment as the beginning of town industrialization.
- The year of 2015 will be developmental year for Cuprija - Ninoslav Eric says.
- The Government of Serbia in August committed with the contract that it will subsidize the first five hundred
vacancies. The first staff will, however, be hired months before production starts. Job advertisements have already
been published for five managers and four students of Technical school as well who should travel on a three-year
training with paid accommodation and training. When production starts, five hundred new vacancies more are
expected.
Thousand salaries per month would be serious refreshment for Cuprija and this huge investment will mean a lot for
SMEs which would generate profit through service activities.
New investments
According to president of Cuprija municipality, local self-governance has been negotiating with another company
which would hire even bigger number of people than the mentioned German multinational company.
CENTRGAZ IS LOOKING FOR SUBCONTRACTORS FOR SOUTH STREAM CONSTRUCTION IN
SERBIA
Centrgaz, which won the tender for design, procurement of equipment , materials, construction and assembling
works, staff training and putting the main gas pipeline South stream into operation in the territory of Serbia has
released a public call for participation in the process of pre-qualification for associates on this work.
Companies in the field of welding in assembling process, ground works and general construction works can apply.
HUNGARIAN MASTERPLAST EXPANDS SECTION IN SUBOTICA
Hungarian Masterplast will pour EUR 400.000 in expansion of the plant for thermal insulation materials in Subotica,
Budapest Business Journal has reported today.
As Hungarian portal reported, Masterplast will fund the investment in the section in Serbia from their own funds.
Masterplast was set up in 1997 and last year it generated profit of EUR 81 m.
Disclaimer: This report is provided only for information purposes. Investors should always research companies and securities before making any investments. Nothing herein should be
construed as an offer or solicitation to buy or sell any security. The information and any opinions, estimates and forecasts have been obtained from sources believed by us to be reliable, but
without representation or warranty, express or implied is made by us as to their accuracy or completeness. The information, opinions, estimates and forecasts may well be affected by
subsequent changes in market conditions. This document may not be reproduced in whole or in part, or published for any purpose.
Your broker
Broker - Dealer Company M&V Investments
Member of the Belgrade Stock Exchange
Contact:
Bulevar Mihajla Pupina 115e, 11070 Novi Beograd
Phone/Fax: +381 11 3530 900
www.mvi.rs bg@mvi.rs