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Business Industry Capital
ISSN 1311-364X
Wednesday, 10 July 2019, Issue 4991
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(10.07.2019)
  EUR   1.95583  
GBP   2.17375
USD   1.74550
CHF   1.75616
EUR/USD   1.1205*
ECB exchange rate
Basic Interest Rate
  as of 01.07   0 %  


Bulgarian Stock Exchange - 09.07.2019
  Total turnover (BGN): 1 087 424.46  
Traded companies: 25
Premium 32 769.76
Standard 445 711.53
REIT 608 624.33
Structured 318.84
Biggest change
Neochim JSC - Dimitrovgrad -9.30 %
Trace Group Hold JSC - Sofia 3.70 %
BaSE - Shares: 318.20
BaSE - REIT: 8.61

Operation of gravel and sand pits
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  
  1   Imeris Minerals Bulgaria JSC - Kurdzhali   20 494  
  2   Mineral 2000 SPLTD - Sofia   16 059  
  3   Eskana PLCo JSC - Varna   14 856  
  4   Andela JSC - Bourgas   11 257  
  5   Holcim Careering Materials JSC - Sofia   10 774  
  6   Holcim Careering Materials Plovdiv JSC - Plovdiv   8 434  
  7   Polaris 8 LTD - Varna   8 069  
  8   Inert Materials Yambol JSC - Yambol   6 427  
  9   MDZ Balsha JSC - Balsha   6 265  
  10   Blagoustroistveni Stroeji SPLTD - Bourgas   5 371  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Balkam JSC - Sofia
Borsa - Stara Zagora JSC - Sofia
Corn Foods Sofia JSC - Sofia
Eastern Telecommunication Company JSC - Kostinbrod
Energoproject JSC - Sofia
Favorit Hold JSC - Sofia
Himsnab Bulgaria JSC - Sofia
Holding Varna (PF) JSC - Varna
Hranserviceengineering JSC - Stara Zagora
Konstantin 2004 JSC - Plovdiv
Legia JSC - Rakovski
NID Industrialen fond JSC - Sofia
PolygraphJug JSC - Haskovo
Progenezis JSC - Plovdiv
Rodna Zemya-Holding (PF) JSC - Sofia
Rosa JSC - Popovo
Rosa M JSC - Sofia
Soliteh JSC - Sofia
Sports Complex Lava JSC - Samokov
Status Properties REIT - Sofia
XL Trade JSC - Sofia
 
Forthcoming General Meetings



Financial news

According to the preliminary data in May 2019 the seasonally adjusted Industrial Production Index remained at the level of April 2019. In May 2019 the working day adjusted Industrial Production Index rose by 0.6% in comparison with the same month of 2018. In May 2019 as compared to April 2019, the increase was in the mining and quarrying industry by 9.5%, while the production fell in the manufacturing by 0.4% and in the electricity, gas, steam and air conditioning supply by 0.1%. The most significant production decreases in the manufacturing were registered in the repair and installation of machinery and equipment by 8.4%, in the manufacture of computer, electronic and optical products by 4.4%, in the manufacture of basic metals by 3.9%. Major increases were seen in the manufacture of tobacco products by 15.4%, in the manufacture of leather and related products by 11.3%, in the manufacture of furniture by 7.1%, in the manufacture of chemicals and chemical products by 6.0%.

Source: Novinite.com

The outsourcing industry in Bulgaria employs 2.4% of the workforce in this country. Over 67,000 people are employed at this sector. In 2021 their number is expected to exceed 80,000, data of the Bulgarian Outsourcing Association show. The outsourcing sector generates 7.9% of the salaries in Bulgaria. The people employed in the outsourcing industry receive good wages which are way higher than the average wages in Bulgaria. The outsourcing business expands from Sofia towards cities with big universities. The outsourcing industry is the biggest investor in the development of education in this country. 96% of the Bulgarian outsourcing companies entered in various partnerships with Bulgarian universities or support other educational initiatives.

Source: BNR

 
Companies

Bulgaria's Commission for Protection of Competition has allowed local pesticides producer Agria to acquire pesticides trader Campo 2007. The two companies operate on competitive market segments which include a large number of subsidiaries of large foreign corporations and the deal is not expected to lead to the establishment of a dominant position. Agria generated consolidated revenue of BGN 109.9 million in 2017 and closed the year with a net profit of BGN 15.1 million. Campo 2007 booked revenue of BGN 10.3 million and a net profit of BGN 352,000 in 2017. The company is 50/50 owned by local companies MMS-99 and Ambus. Earlier this year, Agria said that it also intends to acquire Lichtenstein-based Zenith Crop Sciences.

Source: Banker

Bulgaria's Trace Group Hold said that its wholly-owned unit Infra Commerce intends to absorb local acrylic paint producer Himcolor. Infra Commerce's capital will not be increased as a result of the merger, Trace Group Hold said in a bourse filing. Infra Commerce acquired 100% of Himcolor in April. Himcolor's capital comprises 5,000 shares with a nominal value of BGN 10 each Himcolor booked revenue of BGN 932,000 in 2017 and closed the year with a net profit of BGN 68,000, according to data from its latest available annual financial statement.

Source: SeeNews

The German Osram Licht, which two years ago made a plant for lighting systems near Plovdiv, will have a new owner. Tthe board of directors and group supervisors supported the offer of the US financial consortium between Bain Capital and The Carlyle Group to acquire the shares at a price of EUR 35 per share. The new owners will retain the group's strategic priorities, including the focus on digitization, which does not imply changes in the activities of the Bulgarian company Osram. Besides production, the German group also has a trading company in Bulgaria - Osram Sales, which is based in Sofia. One of the buyers - Bain Capital, also has a Bulgarian connection. The Fund is a former owner of the Ideal Standard - Vidima sanitary ware and fittings manufacturer through its participation in Ideal Standard. The American company acquired Ideal Standard in 2007, and in 2014 as a shareholder came the Anchorage Capital Fund after debt restructuring and a fresh investment. In the middle of last year Bain Capital came out of its investment by selling its shares to Anchorage Capital.

Source: Capital

The company of Markan Holding plans to build an eco-farm in the area of Gorni Okol, Samokov municipality. The project includes several sites for various animals and dairy and is part of the planned tourist complex with a golf course and a hotel. The total investment is estimated at around EUR 300 million, but will be implemented in parts. The project envisages the construction of a complex for ecological production of milk from cows and sheep, its processing in dairy products for direct delivery, as well as a small horse base. This became clear from the investment proposal of Golf Okol, which is owned by Markan Holding.

Source: Capital

Bulgaria-based textile company E. Miroglio turned to a consolidated net loss of BGN 19.6 million in 2018 from a net profit of BGN 15.6 million in 2017, due to higher expenses. E. Miroglio's operating expenses grew to BGN 279.5 million last year from BGN 241.0 million in 2017. The rise in expenses was mainly due to higher expenses for materials and hired services, as well as personnel costs. The company's operating revenue edged up to BGN 260.5 million in 2018 from BGN 258.6 million the year before. E. Miroglio's assets increased to BGN 810.9 million at the end of 2018 from BGN 796.6 million a year earlier.

Source: SeeNews



       Bulgarian Industrial Association


 

       World

Europe

The Council adopted contingency measures on the implementation and financing of the 2019 EU budget in the event of a no-deal Brexit. The aim of the measures is to mitigate the impact of a no-deal scenario for funding in a wide range of areas such as research and agriculture. They will enable the EU to continue making payments to UK beneficiaries for contracts signed and decisions made before the withdrawal date, as long as the UK continues paying its contribution agreed in the EU budget for 2019. The European Parliament gave its consent to this contingency framework on 17 April 2019. Under the agreed contingency framework, the UK would have to confirm in writing that it will contribute to the financing of the 2019 EU budget as adopted. It would also have to accept the necessary controls and audits for the EU programmes and actions, and make the first payment to the EU budget for the period after its withdrawal. Only if these conditions are met would the eligibility for financing by the EU budget in 2019 of the UK and UK-entities be maintained.

Source: Bloomberg

America

PepsiCo Inc’s quarterly revenue and profit beat Wall Street estimates, boosted by higher sales of its traditional Pepsi soda as well as snacks Lay’s and Dorito chips. Beverage sales rose in the quarter as the company’s packaging strategy to move away from large cans of sugary drinks to smaller ones is helping it add consumers who occasionally like to ‘indulge’ even while preferring healthier options in the long term. “Core Pepsi is what is driving the improved performance in soda,” Chief Financial Officer Hugh Johnston told Reuters. “You have the consumer shifting from bigger volume packages into packages that are smaller... but the price realization is quite good on them,” Johnston said. Earlier this year, PepsiCo launched berry, lime and mango flavored sodas in 12-ounce cans and introduced variations of Cheeots and Doritos tortilla chips. Beverage volume fell 2% at PepsiCo’s North America beverage unit, largely due to higher sales of smaller packages of sodas and juices, but revenue from the business rose 2.5%. Revenue in its snacking division, Frito-Lay North America, rose 4.5%, led by high single-digit growth in convenience and dollar stores, pushing total net revenue up 2.2% to $16.45 billion.

Source: Reuters

Asia

The market size of cloud computing in China reached 96.28 billion yuan (13.97 billion U.S. dollars) in 2018, up 39.2 percent from 2017, said a recently-released white paper on cloud computing development. The public cloud market scale reached 43.7 billion yuan last year, an increase of 65.2 percent over 2017, according to the white paper released by the China Academy of Information and Communications Technology. It is expected that the market will grow rapidly in the next three years and reach 173.1 billion yuan by 2022. Favorable policies on cloud computing promoted its rapid development in the country, according to the white paper. In August last year, the Ministry of Industry and Information Technology issued a guideline proposing that by 2020, cloud computing will be widely used in the production, operation and management of enterprises, and there will be 1 million more enterprises applying cloud computing in China. As of the end of last year, more than 20 provincial-level regions, including Shanghai, Jiangsu, Zhejiang and Hubei, have issued policy documents on developing cloud computing in enterprises.

Source: Xinhua

 
Indexes of Stock Exchanges
09.07.2019
Dow Jones Industrial
26 783.49 (-22.65)
Nasdaq Composite
8 141.73 (43.35)
Commodity exchanges
09.07.2019
  Commodity Price  
Light crude ($US/bbl.)58.62
Heating oil ($US/gal.)1.9200
Natural gas ($US/mmbtu)2.4200
Unleaded gas ($US/gal.)1.9300
Gold ($US/Troy Oz.)1 394.70
Silver ($US/Troy Oz.)15.10
Platinum ($US/Troy Oz.)814.00
Hogs (cents/lb.)79.08
Live cattle (cents/lb.)108.12

       Discover Bulgaria

Duhlata cave

Duhlata is the longest cave in Bulgaria. It is located in the south-western part of the Vitosha mountain, near the village of Bosnek, some 45-min drive away from Sofia. The exploration of the over 18-km long cave started as early as 1965 and is still ongoing. Around 15 km of the cave have been explored. 50 incredibly beautiful halls with gorgeous limestone forms and sparkling lakes in them have been found. Duhlata consists of 6 cave levels and numerous narrow galleries, called “tesnyatzi” (from “tesen” – narrow (in Bulgarian)), forming a unique labyrinth. It took decades for scientists to make a map of this natural phenomenon. There are all sorts of interesting legends related to the cave. According to one of them, Al. Strezov saw parts of the so-called “Akademishka duhla” in his dream before they were found. Another legend says the road through “The Throat of Hell” was shown to speleologists by a flight of bats…
Duhlata, with all of its stalactite and stalagmites, ciboriums and draperies, little lakes, etc., is considered to be one of Bulgaria’s most beautiful caves.


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