Wednesday, 12 May 2021

British American Tobacco (BAT) Announces HRK 200 Million Investment in Kanfanar Factory

ZAGREB, 12 May, 2021 - During a visit on Wednesday by Prime Minister Andrej Plenković to the British American Tobacco (BAT) factory in Kanfanar, BAT revealed an investment of HRK 200 million in the production of a new category of heated tobacco products (HTP), underlining the importance of the new logistics centre in Rijeka.

"By expanding production in Kanfanar and opening a hub in Rijeka, we are continuing with BAT's significant investments in Croatia. With the introduction of production lines for new product categories, Croatia is additionally strengthening its position on the global map of production sites in the tobacco industry. We are continuing to expand our selection for consumers in Croatia," BAT Adria director Zvonko Kolobara said in a statement to the press.

He added that the increased capacity in Kanfanar would help BAT meet growing demands for HTP in Europe and northern Africa.

Kolobara thanked the government and Prime Minister Plenković for their efforts in creating an investment climate that stimulates further investments.

Plenković expressed satisfaction that BAT is continuing with its investments in Kanfanar and ensuring jobs. BAT's announcement of the investment comes after its announcement that it could leave Croatia due to unfavourable business conditions.

Plenković underlined that the new investment was an example of a good business climate and that BAT did not exert any pressure on the government to meet its demands to continue doing business in Croatia.

"The new, HRK 200 million investment in new products means a new impetus, enthusiasm and a new generator of business and with that, a contribution to Croatia's economy. The company employs 1,600 people and another 800 cooperate closely with BAT and make a living that way. The investment plans have been coordinated with their headquarters in London and all the employees at the factory will be satisfied while the entire economy of Istria County will benefit from BAT's operations," said Plenković.

He noted that the government was open to large global investors.

"It is excellent that BAT has established a hub in Rijeka for products from China that are distributed throughout Europe. That is additional confirmation of Rijeka's attractiveness as an exceptionally important transport and commercial port in the country. As far as BAT's staying is concerned, the government took account of the Croatian economy and creating conditions for all foreign companies doing business in Croatia and investors to have the same treatment. It is obvious that BAT has decided that the Kanfanar factory is important and that it wants to invest and that Croatia is important to it. There was never any pressure," said Plenković.

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Tuesday, 11 May 2021

Zagreb Stock Exchange: Crobex's Six-Day Winning Streak Ends

ZAGREB, 11 May, 2021 - The Zagreb Stock Exchange (ZSE) Crobex on Tuesday fell by 0.45% to 1,950.84 points, thus ending its six-day winning streak.

The Crobex10 declined by 0.55% to 1,200.06 points.

Today's regular turnover totalled HRK 8.7 million, HRK 6.7 million less than on Monday.

Apart from that, an additional five million was generated by a block transaction with shares of the SZAIF fund which changed hands at the price of HRK 22.20. SZAIF shares turned over HRK 1.9 million in regular trading, with a price rise of 11% to HRK 22.20.

In terms of the volume of trading, the Atlantska Plovidba shipping company was the best performer, HRK 2.1 million. After its shares gained more than 45% in value in the last five days, today their price fell by 3.90% to HRK 370.

A total of 53 stocks traded today, with 28 of them registering a price fall, 19 saw a price increase and six remained stable in price.

(€1 = HRK 7.529086)

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Friday, 7 May 2021

Oleg Butković Presents Reforms And Investments For Transport Sector

ZAGREB, 7 May, 2021 - A part of the National Recovery and Resilience Plan (NPOO) refers to developing a competitive, energy sustainable and efficient transport system, and it is valued at HRK 5.5 billion, Minister of the Sea, Transport and Infrastructure Oleg Butković said on Friday.

The National Recovery and Resilience Plan totals HRK 47 billion and comprises five components, with the economy component valued at HRK 26.2 billion. That component includes a sub-component on developing a competitive, energy sustainable and efficient transport system, with investments worth HRK 5.5 billion, recalled Butković.

The plan, he said, foresees the continuation of significant investments in modernising transport infrastructure with the aim of developing a sustainable transport system and stimulating the development of smart solutions as well as  reforming rail, road and air transport as well as maritime and inland navigation.

We are prepared to make these reforms and that is an opportunity to continue the current strong investment cycle in transport infrastructure, which amounts to more than HRK 25 billion. With the resilience programme we are continuing that investment cycle which will amount to more than HRK 30 billion by 2030, particularly in railway projects as well as all the other projects, said Butković.

He announced that reforms would include amendment of the Roads Act by 2026 to create conditions for the interoperability of electronic road toll systems and improve road safety.

Answering reporters' questions, Butković said that the Hrvatske Autoceste road management company is well on its way to advertising a tender for a new contactless toll system at all motorways in the country.

He estimates that the tender could be advertised in September or October and that the new system will most likely mean the introduction of a digital vignette.

The plan also foresees the adoption of new laws on maritime zones and sea ports, on inland waterway transport and ports, and on regular and occasional sea transport to ensure uniform implementation of regulations on public port management.

The plan also includes the construction and reconstruction of railway infrastructure, the modernisation of sea ports, the procurement of three passenger ships and three catamarans, new ferry boats, trams, buses, a new photovoltaic power station, and the construction of a new Level 5 autonomous vehicle, said Butković.

According to Butković, HRK 2.8 billion of the HRK 5.5 billion planned to be invested in the transport system would be allocated to the private sector.

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Friday, 7 May 2021

Zagreb Stock Exchange: Indices Close Day in Opposite Directions, Stronger on The Week

ZAGREB, 7 May, 2021 - The main Zagreb Stock Exchange indices closed the day in opposite directions on Friday compared to the previous day, while on the week they recorded a strong growth of 2.2%.

The Crobex index increased by 0.25% to 1,935.53 points, which is its highest level since 21 February 2020.

The Crobex10, however, dropped by 0.18% from Thursday to 1,194.07 points.

Thanks to increasing for five straight days, the Crobex ended 2.22% higher on the week.

The Crobex10 increased by 1.37% on the week.

Regular turnover amounted to HRK 9.5 million, about HRK 300,000 more than on Thursday.

The highest turnover of HRK 4.4 million was generated by the Atlantska Plovidba shipping company. The price of its shares closed at HRK 338, up 6.62% from Thursday. Atlantska Plividba has been among the most traded  stocks for several weeks, marking a strong increase in price. At the start of this week, its price jumped by 12% and then increased at a rate of more than 6% for three days, rising by more than 30% on the week.

The Podravka food manufacturer generated a turnover of HRK 1.3 million, with the price of its shares increasing by 0.34% to HRK 588.

The Riviera Valamar hotel group's stock also crossed the million kuna mark with a turnover of HRK 1.2 million. Its price also increased, going up by 0.35% to close at HRK 29.

A total of 45 stocks traded today, with 20 of them registering price increases, 12 recording price decreases and 13 stagnating.

(€1 = HRK 7.532309)

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Friday, 7 May 2021

Croatian Bureau of Statistics (DZS): Croatian export rises 9.5%, import 2.1% in 2021 Q1

ZAGREB, 7 May, 2021 - Croatia exported the commodities worth 30 billion kuna in the first three months of 2021, which was 9.5% more in comparison to the corresponding period in 2020, whereas the imports rose 2.1% to HRK 46.5 billion, the national statistical office (DZS) reported on Friday.

As a result, Croatia's foreign trade deficit in Q1 2021 narrowed by nine percent to HRK 16.45 billion compared to the 2020 Q1.

The coverage of the import by the export was 64.6%.

In the first three months of 2021, HRK 20.7 billion worth of goods was exported to the EU, 8.9% more on the year, and HRK 9.3 billion to non-EU countries (+10.9%).

The import of goods from the EU totalled HRK 36.7 billion, which was the same level as in the corresponding period of 2020, while import from other countries rose 11.4% to HRK 9.7 billion.

Expressed in euros, Croatia's goods export totalled €3.97 billion, up 7.9%, while import increased 0.6% to €6.1 billion.

The foreign trade deficit was €2,2 billion.

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Thursday, 6 May 2021

Zagreb Stock Exchange: Crobex Continues Upward Movement For Fourth Day in a Row

ZAGREB, May 6, 2021- The main Zagreb Stock Exchange (ZSE) indices strengthened on Thursday, with the Crobex continuing its upward movement for the fourth day in a row to reach its highest level since the end of February 2020.

The Crobex rose by 0.38% to 1,930 points, while the Crobex10 gained 0.4% to end the day at 1,196 points.

Turnover at the end of the trading session reached HRK 9.2 million, about 1.5 million less than on Wednesday.

The stock of the Atlantska Plovidba shipping company turned over HRK 1.8 million, closing at HRK 317 per share, up 6.73% over Wednesday. It was the only stock to pass the turnover mark of one million kuna.

A total of 43 stocks traded today, with 13 of them registering price increases, 19 recording price decreases and 11 stagnating in price.

(€1 = HRK 7.534594)

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Wednesday, 5 May 2021

Zagreb Stock Exchange: Crobex Continues to Climb Slowly For Third Day Running

ZAGREB, 5 May, 2021 - The Zagreb Stock Exchange Crobex index continued to increase slowly on Wednesday for the third day running while the Crobex10 weakened, with investors focusing on the HT telecommunications stock, which traded without dividend rights.

The Crobex increased by 0.35% to 1,923 points, climbing for three straight days and reaching its highest level since February 2020.

The Crobex10, however, weakened slightly, by 0.02% to 1,191 points.

The transport sector index registered the highest increase, of 3.93%, while the construction sector index plunged by 2.48%.

Regular turnover amounted to HRK 10.4 million or 1.65 million more than on Tuesday.

The highest turnover of HRK 1.77 million was generated by the HT telecommunications company. The price of HT shares dropped by 2.33% to HRK 188.5. This was due to the fact that as of today, the HT stock trades without the right of paying out a dividend of HRK 8 per share.

The Atlantska Plovidba shipping company generated the second highest turnover, of HRK 1.23 million, with the price of its shares soaring by 6% to HRK 297.

The Ericsson Nikola Tesla stock also crossed the million kuna mark with a turnover of HRK 1.2 million, and the price of its shares increased by 1.19% to close at HRK 1,705 per share.

A total of 47 stocks traded today, with 18 of them registering price increases and 14 registering decreases, while 15 remained stable in price.

€1 = HRK 7.538774)

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Wednesday, 5 May 2021

INA to Donate HRK 1.4 Million To Healthcare Sector

ZAGREB, 5 May, 2021 - The INA oil company will donate HRK 1.4 million to healthcare institutions this year, aware of the exceptional circumstances that the system is faced with due to the coronavirus pandemic, the company said in a press release on Wednesday.

In the wake of last year's earthquakes in Sisak-Moslavina County, INA has donated HRK 500,000 to the Sisak General Hospital and an additional HRK 900,000 to other institutions.

INA plans to donate HRK 150,000 each to the Oncology Department of the Hospital for Children's Diseases in Zagreb and the Clinical Hospital Centre (KBC) in Rijeka as well as HRK 100,000 each to KBC Osijek, the tissue and cell bank at the Sisters of Mercy Hospital in Zagreb, the Hospital for Infectious Diseases in Zagreb, the Cardiology Clinic in Split and two civil society associations.

The Sisak Health Care Centre and the Special Children's Hospital in Gornja Bistra will receive HRK 50,000 each.

The donations are intended for the improvement of diagnostics, procuring new equipment and improving accommodation for patients and working conditions for medical workers.

In addition to money donations, the hospitals will receive a total of 500 litres of INA's Dezinol disinfectant which was developed by INA during the pandemic.

In the past 10 years INA has invested HRK 6.5 million in healthcare in Croatia.

(€1 = HRK 7.5)

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Tuesday, 4 May 2021

Zagreb Stock Exchange Indices Close At Record High Since Late February 2020

ZAGREB, 4 May, 2021 - The Zagreb Stock Exchange (ZSE) indices -- the Crobex and Crobex 10 -- on Tuesday increased 0.57% to 1,916 points and 0.35% to 1,191 points respectively, closing at a record high since the end of February 2020. 

Broken down by sector, the transport index saw the biggest increase of 4.62%, whereas the industry index slid by 1.13%.

Today's regular turnover totalled HRK 8.75 million, 2.5 million less than on Monday.

In terms of the volume of trading, the Atlantska Plovidba shipping company was the top performer, with HRK 2.35 million. Its share price jumped 12% to HRK 280.

The HT telecom turned over HRK 1.33 million, with its share price falling 0.26% to HRK 193.

A total of 39 stocks traded today, with 20 of them registering price increases and 10 registering decreases, while nine remained stable in price.

(€1 = HRK 7.547556) 

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Friday, 30 April 2021

Podravka Group Generates Q1 Net Profit of HRK 105.2 Million

ZAGREB, 30 April, 2021 - The Podravka Group generated a net profit of HRK 105.2 million in the first quarter of 2021, an increase of 15.6% over the same period in 2020, the Koprivnica-based food company said in a financial statement on Friday.

Sales revenue amounted to HRK 1.08 billion or 12.1% less compared to the same period last year.

Podravka said that the decrease in revenue had been expected and was in line with business plans.

"The expected fall in sales revenue compared to 2020 was due to the unusual withdrawal of goods from buyers and extra stocks created in March last year as a consequence of the lockdown in most of the countries where Podravka is present."

The company's supervisory board adopted the revised business results for 2020 which show that the group had generated a net profit of HRK 248.9 million, or 12.3% more than in 2019.

 (€1 = HRK 7.5)

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