Economic news released by SITA on Monday, November 13
Eurovia-Cesty 3Q Gross Profit Grew More than SKK 31 Mln.
The company Eurovia-Cesty, a.s. Kosice reported nine-month gross profit of SKK 121.7 million, up SKK 31.1 million y/y. Company's financial director Jan Kravcak said that total revenues of the company increased SKK 137.6 million y/y to SKK 1.689 billion while total costs surged SKK 106.4 million to SKK 1.567 billion.
Agrotrade Group with Net Profit of SKK 52.7 Mln.
The Roznava-based company Agrotrade Group, s.r.o. reported net profit of SKK 52.7 million last year. The company sells technologies for farmers. In 2004 it was SKK 35.1 million less, informed the company in the electronic version of the Commercial Bulletin on www.epi.sk. Sales were SKK 836.8 million. Sales of own products and services increased SKK 438.4 million y/y to SKK 714.8 million. The cost of sales was SKK 578.3 million, up SKK 358.6 million. Trade margin was SKK 136.5 million, up SKK 80 million.
Sanitas - SR Reports Sales of SKK 626.4 Mln. for 2005
Medicaments and medical materials distributor, Sanitas -- SR, a.s. Nove Mesto nad Vahom, reported a 0.13-percent y/y drop in revenues from goods sold to SKK 626.4 million in 2005. On the other hand, cost of sales grew 1.5 percent y/y to SKK 570.6 million last year. Gross margin thus reached almost SKK 55.9 million in the monitored period: down almost 14.1 percent y/y, according to information published by the company. The company closed last year with a taxed profit of SKK 29.8 million, compared with SKK 4.4 million in 2004.
ZSNP Aluminum Smelter Plans SKK 1.103 Bln. Pretax Profit in 2006
Aluminum smelter ZSNP, a.s., Ziar nad Hronom, a member of Penta private equity group, plans to close this year with a pretax profit of SKK 1.103 billion. "The company estimates this year's operating profit at SKK 316 million," Penta spokesman Martin Danko informed SITA. ZSNP's total liabilities should reach SKK 297 million by the end of this year, compared with SKK 1.101 billion in late 2005. The company registered no bank borrowings at the end of 2005 and it expects none by the end of this year either.
Leasing SLSP Announces a Plan to Float SKK 600 Mln. Bond
Leasing company Leasing Slovenskej Sporitelna (SLSP), a.s. plans to float its second bond issue worth SKK 600 million on November 21. Par value per bond is SKK 2 million. Bonds will bear a flexible coupon equaling the six-month BRIBOR plus + 0.15 percent p.a. Bonds will mature on November 21, 2010. The company approved this bond issue at its extraordinary general meeting in October 2006.
SHP Group Reported Sales of SKK 3.31 Bln. for 2005
The group of production and trade companies clustered in SHP Group reported sales of SKK 3.31 billion in 2005, up 3.8 percent y/y. According to international financial reporting standards (IFRS) the group's consolidated operating profit was SKK 73.2 million, up almost 25 percent y/y. Due to worsened result of financial operations caused by stronger crown and one-off costs connected with the sale of stakes in Harmanec-Kuvert, s.r.o. Brezno and HP Reality, s.r.o. Harmanec the group showed a pre-tax loss of SKK 17.5 million.
Transport and Storage Sector Boosts Q1-Q3 Sales by 22 Pct.
The transport and storage sector in Slovakia reported a 22.3-percent y/y growth in the Q1-Q3 sales of own products and services in current prices to SKK 103.7 billion. In the monitored period the sector registered the highest sales of SKK 14.301 billion in July, while the sales hit their low of SKK 8.811 billion in January. From the total Q1-Q3 volume of sales, SKK 22.364 billion was posted in railway transport. Other land transport generated sales of over SKK 31 billion, while auxiliary and complementary activities in transport and operations of other transport agencies and travel agencies posted sales of SKK 34.495 billion, the Slovak Statistics Office informed SITA.
Amendment for Regulation of Network Industries to Take Affect Later
An amendment to the law on regulation in network industries should come into effect as of March 1. The Economy Ministry however originally planned to implement changes to regulation as of the beginning of the new year. The ministry however explained that the process was dragged out due to legislative reasons. The cabinet should deal with the draft regulation legislation on Wednesday. Economy Minister Lubomir Jahnatek is convinced that the revision will bring clients lower energy prices, increase powers of the regulatory office, and enhance its independence. However, energy companies, employers, and the regulatory office itself claim the opposite.
Transport Company SAD Michalovce Earned Lower Profit in 2005
Local bus transport company Slovenska Autobusova Doprava (SAD) Michalovce, a.s. posted sales of own products and services at SKK 288.3 million last year, which is a slight change from the 2004 when the company posted sales of SKK 289.2 million. The firm generated added value of 76 million, down by SKK 25.3 million. Its taxed profit fell by SKK 135,000 to SKK 218,000.
CAC Leasing Slovakia to Change Name to UniCredit Leasing Next Year
CAC Leasing Slovakia will change its name in UniCredit Leasing next year as part of the integration process of the UniCredit group. This involves integration of HVB Group and BA-CA Leasing that will be incorporated in UniCredit group. The Slovak firm is a member of BA-CA Leasing, CAC Leasing Slovakia representatives informed the press on Monday.
MONEY MARKET: Week Starts with Very Quiet Trading
The Slovak money market started the new week with a very calm trading. UniBanka dealer Jozef Hempfinger told SITA that only the shortest deposits were traded on Monday. Commercial banks deposited SKK 23.616 billion in their reserve accounts in the National Bank of Slovakia (NBS) on Monday, meeting the November minimum reserve requirement on a cumulative basis at 118.23 percent. The central bank's regular sterilization repo tender will take place on the market on Tuesday and its result will be decisive for prices of deposits on a shorter end of the yield curve. On Wednesday SKK 110.412 billion will return to the market from the maturing repo contract.
STOCK MARKET: BCPB with Moderate Losses at Beginning of Week
The Bratislava Stock Exchange (BCPB) moderately weakened at the beginning of the week. The value of Slovakia's official SAX share index dropped 0.53 percent or 2.09 points to 359.15 points. Turnover on the Bratislava Stock Exchange (BCPB) fell from SKK 667.1 million on Friday to a mere SKK 98.9 million on Monday, with SKK 9.2 million in share trading.
FOREX MARKET: Slovak Currency Again Approaches 36.000 SKK/EUR
The Slovak currency again strengthened during trading on Monday after giving up some of its gains at the end of last week. CSOB dealer Richard Brza stated that the local currency opened at 36.150 SKK/EUR (middle). The market players later began testing the 36.000 SKK/EUR limit when the crown's exchange rate against the euro got to 36.050 SKK/EUR due to purchases of London banks.