BELEX15 index constituents faces drop in aggregated sales and profit

Aggregated numbers for BELEX15 members showed that 1H 2016 delivered drop in sales by 12.2% y/y, while aggregated net profit was reduced by 36.2% y/y. This is due to several unfavorable factors such drop in crude oil prices, drop in interest income at banks and lower level of infrastructural works.

NIS (NIIS) remains a member with the highest weight at index but its contribution to overall revenues is now at 57%. Apart from NIS, which faced 21.35 drop in sales, Energoprojekt (ENHL) and Tehnogas (TGAS) also delivered lower amount of revenues, 9.8% and 4%, respectively. Banks also saw drop in revenues – Komercijalna (KMBN) and AIK (AIKB), 9.7% and 7.4% respectively. Aggregated profit at BELEX15 was down to RSD 8.4bn, due to drop in profit at NIS (36.4%), loss at Komercijalna (RSD 2.6bn) and 92.7% decrease in net profit at Sojaprotein (SJPT). Solid expansion at both revenues and net profit was seen at Metalac (MTLC), plus 19.2% and 33.9% y/y, respectively, while major increase only at net profit was seen at Tehnogas (+64.4%) and AIK Banka (+61%). Belgrade Airport (AERO) delivered improved operating performances but its net income was down 37.2% y/y due to high amount of one-off gain from 1H 2015.

Source: Wisebroker

Beogradska berza a.d. Beograd

Energoprojekt Holding a.d. Beograd

NIS a.d. Novi Sad

NLB Komercijalna banka AD Beograd

Messer Tehnogas ad Beograd

AikBank ad Beograd

Sojaprotein d.o.o. Bečej

A.D. Aerodrom Nikola Tesla Beograd

Belex15

Belgrade Stock Exchange index

NIS

companies income

companies profit