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Business Industry Capital
ISSN 1311-364X
Monday, 18 November 2019, Issue 5082
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(18.11.2019)
  EUR   1.95583  
GBP   2.28325
USD   1.77255
CHF   1.79040
EUR/USD   1.1034*
ECB exchange rate
Basic Interest Rate
  as of 01.11   0 %  


Bulgarian Stock Exchange - 15.11.2019
  Total turnover (BGN): 248 857.82  
Traded companies: 37
Premium 26 242.42
Standard 173 636.84
REIT 39 345.83
Bonds 9 632.73
Biggest change
Active Properties REIT - Plovdiv 11.82 %
Billboard JSC - Sofia -8.28 %
BaSE - Shares: 734.90

Manufacture of other furniture
BEIS rating
Top 10 companies by
Fixed
Assets
for 2017
(thous. BGN)
  
  1   Parallel SPJSC - Sevlievo   53 917  
  2   Irim SPLTD - Rousse   18 397  
  3   Mebel stil LTD - Targovishte   7 711  
  4   Interior-I LTD - Sofia   7 003  
  5   Nachevi - 90 - sie Co - Sliven   5 927  
  6   Gold Apolo LTD - Rousse   5 441  
  7   Balkan AD JSC - Sofia   4 701  
  8   Stefany Style SPLTD - Rousse   4 347  
  9   Rinko interior SPLTD - Rousse   3 426  
  10   Buldecor SPLTD - Sofia   2 307  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Domat JSC - Dzhulyunitza
First Investment Bank JSC - Sofia
FMC JSC - Sofia
Hydrostroy JSC - Sofia
Republicaconserve JSC - Svishtov
Septona Bulgaria JSC - Rousse
Severcoop Gamza Holding JSC - Sofia
Solarpro holding JSC - Sofia
Velina JSC - Velingrad
 
Forthcoming General Meetings



Financial news

Total household income per household in the third quarter of 2019 is BGN 1716, an increase of 11.3 per cent on the same quarter of 2018, the National Statistical Institute reported. Total household expenditure per household in the third quarter of 2019 was BGN 1583, an increase of 4.3 per cent compared to the same quarter last year. In the structure of total income, the highest relative share is the wage income (56.5 per cent), followed by the income from pensions (27.2 per cent) and self-employment (6.7 per cent). Compared to the third quarter of 2018, the relative share of wage income increased by 1.3 percentage points, income from social benefits and benefits by 0.8 percentage points, and self-employment income decreased by 1 percentage point. In the structure of total expenditures, the largest share is held by the expenses for: food (30.1 per cent), housing (16.1 per cent), taxes and social security (13.1 per cent) and transport and communications (11.2 per cent).

Source: 3e News

The receivables of financial and operating leasing companies at the end of September 2019 total BGN 4.272 billion (3.7 per cent of forecast GDP), the Bulgarian National Bank reports. At the end of the third quarter of 2019, they increased by 8.2 per cent on an annual basis (by BGN 322.5 million). Claims on financial leasing agreements for cars are BGN 1.588 billion at the end of September 2019. They increased by 13.3 per cent on an annual basis (by BGN 186.7 million). Their relative share increased from 37.6 per cent at the end of September 2018 to 39.1 per cent at the end of the same month in 2019. At the end of the third quarter of 2019, receivables under financial leasing agreements for trucks and light commercial vehicles amounted to BGN 1.349 billion, increasing on an annual basis by 11.2 (by BGN 136.1 million). Their relative share in the total amount of financial leasing receivables increased from 32.5 per cent at the end of September 2018 to 33.2 per cent at the end of the same month in 2019.

Source: 24 chasa

 
Concessions

The Commission for Protection of Competition (CPC) dismissed the complaints of four unsuccessful applicants for concession at Sofia Airport. In July, a Sof Connect consortium was appointed as a concessionaire of the Sofia airport, with the Meridiam fund, the Austrian construction company Strabag and the operator of Munich Airport. The concession fee offered by the consortium amounted to BGN 24.54 million. The French-Turkish consortium between Airport De Paris and TAB Havalimanlari Holding came second, and Fraport Bulgaria, which is a concessionaire at Varna and Burgas airports, was ranked third. The fourth is the British-Chinese consortium Vitosha between the airport operator Manchester Airport Group and the British division of China's Beijing Construction Engineering Group. The consortium strategy for Sofia Airport is to be implemented in four stages and involves the construction of a third terminal, which should be ready by 2030.

Source: investor.bg

Bulgaria's government said that it has extended to 2043 the term of its concession agreement with local bottler and soft drinks producer Sof Drinks for well 1 at the Sofia-Knyazhevo deposit. The concession contract was initially signed in August 2008, the government said in a statement. Sof Drinks bottles mineral water under the Knyazhevo brand, as well as soft drinks under its Taiti brand.

Source: SeeNews

Companies

Bulgarian software company Puzl Web Development will invest about EUR 15 million in the expansion of its IT coworking space Puzl CowOrKing through the purchase of office space in Hungary's capital Budapest. The company has plans for further expansion in Central and Eastern Europe (CEE), which also include Bucharest, Prague, Vienna, Athens, Skopje and Belgrade. The company will be raising the money in phases - in 2020 it needs to raise EUR 10 million. Puzl Web Development, established in 2015, is fully owned by UK-based Puzl Web Ltd. Puzl Web Development is currently focused on Budapest because the city is bigger and attracts more foreigners. At the moment the coworking market in Sofia is among the most competitive in the CEE region, while Budapest has less coworking spaces. As regards the opening of a second location in Bulgaria, the company thinks that it is more important to take a step abroad. Within the past four years Puzl CowOrKing has evolved into a co-working of over 7,008 sq m. Over 90 companies, including startups, engineering teams of larger companies along with freelancers, are currently working there.

Source: SeeNews

The Bulgarian pharmaceutical company Sopharma has increased its stake in the pharmaceuticals distributor in Moldova RAP Pharma International and is thus ranked among the biggest investors in Chisinau. In 2017, Sopharma acquired 51% of the capital of the company, and on November 13 this year it purchased another 29% and at the moment its share reaches 80% of the shares of the Moldovan company. Sopharma has built a new warehouse and an administrative body on its building in Chisinau with an area of over 5000 square meters, which was opened last week. Sopharma announced that the value of the investments in the capital of RAP Pharma International and the capital investments amount to BGN 7.18 million after the last transaction. The pharmaceutical company indirectly has another significant deal for Moldova's economy in 2019. In March, Doverie United Holding, in which Sopharma is the largest shareholder with nearly 30%, initially bought 63.89% of the capital of the second largest bank in Chisinau - Moldindconbank, and after a few months, the minority stake of 13%, as the total value of the two transactions for 77.62% of the credit institution's shares is nearly BGN 100 million.

Source: Capital

Bulgaria's Financial Supervision Commission (FSC) has asked local Compass Receivables Fund to provide additional information and documents regarding its request for receiving a license to act as a special purpose entity (SPE). Compass Receivables Fund intends to specialise in debt securitisation. The company is also seeking approval of a prospectus for listing on the Bulgarian Stock Exchange, as all SPEs are obliged by law to do so. Compass Receivables Fund, established in June, has a registered capital of BGN 500,000.

Source: SeeNews

Bulgarian express delivery company Speedy said that its consolidated net profit rose to BGN 12.1 million in the first nine months of the year from BGN 9.8 million in the same period of 2018. Speedy's revenue grew to BGN 159.2 million in the January-September period of 2019 from BGN 128.6 million in the comparable period of 2018. Domestic market sales revenue rose by an annual 17% to BGN 84.6 million, while sales revenue abroad jumped 33.1% to BGN 66.6 million. Speedy made 28.3 million deliveries in January-September, up by an annual 36.6%. The company's expenses increased to BGN 145.2 million in the review period from BGN 117.4 million the year before. Expenses for hired services, which for the majority of Speedy's expenses, grew to BGN 83.3 million from BGN 74.1 million in the like period of 2018. Personnel costs rose by BGN 7.1 million to BGN 28.1 million in the first nine months of the year, while amortisation costs grew by BGN 7.5 million to BGN 15.9 million.

Source: investor.bg



       Bulgarian Industrial Association


 

       World

Europe

Poland’s dominant gas firm, state-run PGNiG, said it had notified Russia’s Gazprom that it did not intend to extend their long-term deal on gas supplies when it expires after 2022. Poland has said before that it does not plan to buy gas from Gazprom after 2022, but the agreement signed in 1996, known as the Yamal contract, required that the parties formally submit declarations regarding future cooperation three years before the deal expires. Poland still buys most of the gas it consumes from Gazprom, but has taken steps to reduce its reliance on the Russian firm, as it considers the conditions of the Yamal deal unfavorable. PGNiG said in a statement its contracted liquefied natural gas (LNG) supplies and acquisitions of gas deposits in the North Sea would guarantee security of supplies after 2022. Gazprom did not immediately respond to a request for comment.

Source: Reuters

America

The 50 attorneys general investigating Google are preparing to expand their antitrust probe beyond the company’s advertising business to dive more deeply into its search and Android businesses. The development comes as politicians on both sides of the aisle, including President Donald Trump, increasingly tee off on Silicon Valley. Meanwhile, Democratic presidential candidate Sen. Elizabeth Warren has called for Big Tech companies to be broken up. The attorneys general – who represent 48 states, Puerto Rico and Washington, D.C. – will write up subpoenas known as civil investigative demands, or CIDs, to support the inquiries, the people said. One of the people cautioned that the subpoenas may not be served imminently. So far, the investigation has explicitly focused on Google’s advertising business. Texas Attorney General Ken Paxton, who is leading the probe, announced the investigation during a September news conference that emphasized Google’s dominance in the ad market and use of consumer data.

Source: CNBC

Asia

Tencent reported third-quarter results that missed Wall Street revenue estimates but matched on earnings. The Tencent earnings report came before the market open. The China-based internet giant reported adjusted earnings of 36 cents per share on revenue of $13.75 billion. Wall Street expected adjusted earnings of 36 cents on revenue of $13.9 billion. Revenue jumped 21% from the year-ago period. Tencent is China's largest provider of messaging services and mobile gaming. The company ended the quarter with 1.15 billion users of its WeChat messaging service, up 6% from the year-ago period. Total online games revenues climbed 11% to $4.1 billion. Revenue from smartphone games jumped 25% to $3.46 billion, the company said. Online advertising revenue reached $2.6 billion, up 13%. Financial technology and other business services revenue topped $3.8 billion, up 36%.

Source: Associated Press

 
Indexes of Stock Exchanges
15.11.2019
Dow Jones Industrial
28 004.89 (222.93)
Nasdaq Composite
8 540.83 (61.81)
Commodity exchanges
15.11.2019
  Commodity Price  
Light crude ($US/bbl.)57.76
Heating oil ($US/gal.)1.9500
Natural gas ($US/mmbtu)2.6300
Unleaded gas ($US/gal.)1.6400
Gold ($US/Troy Oz.)1 465.50
Silver ($US/Troy Oz.)16.86
Platinum ($US/Troy Oz.)892.70
Hogs (cents/lb.)72.00
Live cattle (cents/lb.)124.98

       Discover Bulgaria

Medjidi Tabia fortress

The fortress Medjidi Tabia is located on one of the most picturesque hills near the town of Silistra. It was built during the period 1841-1853. The idea for its building was given by the famous German military engineer Helmuth von Moltke, who visited the town of Silistra back in 1837. While the building of the fortress was still ongoing, the Turkish sultan Abdul Medjid came and visited the place, and was impressed by what he saw. Therefore the fortress was named after him – Medjidi Tabia. Its construction was completed during the ruling of the regional governor Said Pasha, immediately before the Crimean war. The fortress has a turbulent history. During the Balkan wars, it was dominated by many different rulers. Therefore the exposition, exhibited inside the fortress, includes both Turkish, German, and other military and historical relics. The architecture of the fortress is very interesting – it has many secret entrances, exits, hiding places, double walls, narrow corridors.


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