Beta Sec – Daily report 01-04-2026 – Market Monitor- Market Comment- In the Spotlight- Buybacks

Wednesday, April 01, 2026

Market Monitor

The mild growth in stock prices on the main eurozone markets (Frankfurt and Paris) and the rather favorable reports by foreign firms on the course of bank stocks contributed in the eagerly awaited reaction of the Greek bourse yesterday. This was also implemented on improved turnover, with traders appearing ready to free themselves from being swayed by political statements regarding the war in the Middle East, focusing instead on the bare facts. 

ATHEX GI closed at 2,065.04 points, adding 2.90% to Monday’s 2,006.93 points. The large-cap FTSE-25 index expanded 3.02%, ending at 5,234.12 points. Mid-caps were also up by 2.68%. The banks index grew a considerable 5.04%, as Alpha jumped 6.73%, Eurobank obtained 6.33%, Piraeus earned 5.37%, National secured 4.21%, Bank of Cyprus collected 2.45% and Optima rose 2.16%. Viohalco fared even better, advancing 7.48%. 

In total 91 stocks secured gains, 19 endured losses and 15 remained unchanged. Turnover amounted to €339.185mn, up from Monday’s €259.1mn. 

Based on yesterday’s MSCI Greek market upgrade to developed status (as of May 2027) and President’s Trump statement for a potential war ending in 2-3 weeks’ time we expect a strong session today with market heading to a strong northbound course. 

Greece/CPI: According to Eurostat Greek CPI in March climbed to 3%.

Athens Exchange: MSCI upgraded Greek stock market status to developed from emerging effective as of May 2027. Recall that FTSE has also upgraded Greek market to developed status which will be in effect as of August 2026. Athens Exchange renamed to Euronext Athens as of today.

Alpha Trust Andromeda: AGM on April 21. FY:25 dividend €0.40/share.

Autohellas: AGM on April 22.

Dimand: On March 30, CEO Mr. Andriopoulos bought 8K shares for €96.305K (€12.04/share).

Crediabank: The bank announced that the Combined Offering was multiple times oversubscribed and that the bookbuilding period for the International Offering ended yesterday. The closing of the Greek Public Offering period is due today, 1 April 2026 at 2:00 pm Greek time.

IPTO Holdings (FY:25 results CC invitation): Conference call scheduled for Wednesday April 8 at 4pm local GR (Athens) time. Conference call details:

• GR: + 30 213 009 6000 or +30 210 94 60 800
• UK and INTL: + 44 (0) 203 059 5872 or + 44 (0) 800 368 1063
• USA: + 1 516 447 5632.

Premia: IPO for the REIT’s new 7-year retail listed bond of €150mn, with minimum amount prerequisite for the successful issue the €105mn mark, commenced yesterday and will be concluded on April 2. Coupon rate set between 4.1% to 4.4%.

ADMIE: FY2025 analysts conference call scheduled for today at 14:00 (GR-Time). Conference call details:

• GR: +30 213 009 6000 or +30 210 94 60 800
• UK: +44 (0) 203 059 5872 or +44 (0) 800 368 1063
• USA: +1 516 447 5632
• Web: https://87399.themediaframe.eu/links/admie260408.html

Medicon Hellas: FY2025 results and the Annual Financial Report will be released on 30 April 2026 after market close, while H1 2026 results will be posted on 30 September 2026. The AGM is scheduled for 1 July 2026, where the Board intends to propose a dividend for FY2025.

Allwyn: As of today, the 445,684,184 new (CR) shares of the company are admitted to trading on the ATHEX, following the recent share capital increase realized through contribution in kind. On April 1, 2026, the total number of the company’s listed shares amounts to 804,287,662 (CR) shares.

Y/Knot: As of today, the shares of the company are traded on the ATHEX ex-rights in terms of 4 new (CR) shares for every 1 old (CR) share held – with issue of 30,380,640 new (CR) shares – at an issue price of €0.75 per share. The rights’ trading period is set from April 8, 2026, to April 16, 2026 (included). The rights’ subscription period is set from April 8, 2026, to Apri 21, 2026 (included). It is clarified, according to article 2.6.3. of the ATHEX Rulebook and to decisions No 22 & 26 of the ATHEX BoD, as in effect, that the fluctuation price limits of the share price only for the trading session on April 1, 2026, are set as follows: +30% at the closing share price of the ATHEX last trading session (31/03/2026): €1.1500 and -30% at the adjusted start share price: €0.8300

Avax: FY:25 results out today after market close. CC scheduled for tomorrow.

Fourlis (FY:25 results review): The company reported a mixed set of FY:25 financial performance with sales missing both guidance (>€600mn) and our estimate (€603mn) but due to cost control and TE profitability contribution surpassing our net income estimate and coming in line on the EBITDA (OPR) front. In more details:

·          Group revenues increased by 12.1% year on year to €593.7mn, compared to €529.7mn in FY:24, driven by network expansion and market share gains across all business segments. The company had guided for in excess of €600mn sales while we opted for €603mn.

·          Gross profit reached €280.6mn up 13.0% yoy, with the gross profit margin improving to 47.3% from 46.9% in FY ‘24, reflecting a favorable product mix.

• EBITDA amounted to €82.2mn, representing a 12.6% yoy increase, with the EBITDA margin remaining stable at 13.8%.

·          EBIT was up 15% to €30.7mn, in line with company’s guidance for an EBIT of €30mn but below long-term EBIT margin target of 6 to 8% with 2025 EBIT shaping at 5.2%.

• Contribution from Trade Estates stood at €17.5mn (in line – 47.1% stake).
• CAPEX ended at €26.3mn with €11.6mn related to network expansion across IKEA, INTERSPORT and Foot Locker and €5.7mn invested in digital transformation initiatives
• FY:25 dividend set at €0.15/share, flat yoy. We expected €0.16/share.
• Net Debt stood at €93.2mn with Net Debt/Adjusted EBITDA at 2.6x (in line with our expected ratio of 2.5x).
• 2026 guidance: Positive Q1:26 operating environment with sales up 13% (March 28) with IKEA up 6% and Sports sales up 24% but refraining to say anything for the profitability side and focusing on disciplined execution of strategic priorities, operational flexibility and cost control.
• The company also announced it entered yesterday into an MOU with Golden Age Capital A.E.D.A.K.E.S., the majority shareholder of DrP Group IKE, regarding the formation of a strategic partnership to accelerate the next phase of growth of H&B brand in Greece.
• The partnership aims to accelerate the development of the brand through the pharmacy channel, leveraging the growing pharmacy network of DrP Group, as well as the complementary expertise and operational capabilities of both parties, thereby significantly enhancing the brand’s reach and accessibility.
• The brand’s existing footprint will be strengthened through flexible in-pharmacy retail formats, including shop-in-shop concepts and dedicated merchandising spaces. Under the contemplated transaction, and subject to customary closing conditions, Fourlis will contribute 100% of the shares of Wellness Market S.A., the company representing the H&B brand in Greece, to DrP Group, and will acquire a 15% equity stake in DrP Group, with the remaining 85% held by the existing shareholders.
• Fourlis will also obtain representation on the Board of Directors of DrP Group, while its participation will be supported by customary minority shareholder protections. The transaction is expected to be completed within the H1:26. Wellness Market S.A. currently operates a network of 10 stores, as well as an ecommerce platform, offering a broad range of vitamins, supplements and natural health products that support consumers’ everyday wellbeing and preventive health.
• Neutral rating maintained with TP €6.02

Conference call details: Wednesday April 1 at 5pm local (Athens) GR Time

·          GR: +30 213 009 6000 or +30 210 94 60 800

·          UK: +44 (0) 800 368 1063

·          UK & INTL: +44 (0) 203 059 5872

·          USA: +1 516 447 5632 

Dotsoft: The company released their FY2025 results turnover surging 74.3% to €24.81mn and gross profit rising to €11.95mn, supported by high‑margin smart‑city projects and an expanded client base in Greece and abroad. EBITDA more than doubled to €9.19mn (+111.5%), reflecting increased project volume and maintenance contracts, while the company highlighted a backlog exceeding €50mn and a 40% expansion in its customer base. For 2026, DOTSOFT targets the completion of Recovery Fund–financed smart‑city projects, new product releases, continued digitalization initiatives, and further international expansion through major European municipal and agency contracts 

CPI (6m 2025): The company reported a 16.7% decline in H1 revenues to €8.68mn, but profitability improved as EBITDA rose 77% to €193k, driven by lower operating costs and a higher contribution from services (29% of revenues vs. 25% last year). Gross profit fell 7% to €1.65mn, while pre‑tax losses narrowed to €164k from €248k. Management highlighted that the company’s 18‑month transformation is now delivering results, noting a 15% y-o-y revenue increase in Q1 2026 and expressing confidence that full‑year revenue shortfalls will be fully recovered, operating profitability will strengthen, and pre‑tax results are expected to turn positive.

Briq Properties: During yesterday’s CC analyzing FY:25 performance, CEO stated that target is to reach GNAV of €300mn (from €282mn in FY:25) by end 2026 while strong dividend police (FY:25 DY at 6.8%, FY:25 DPS at €0.20/share) will continue on strong FFO generation. 

PPA (FY:25 results): Net cash at €149.8mn. FY:25 gross dividend €1.896/share (€1.92/share in 2024)

Petropoulos (FY:25 results): Net debt at 32.713mn, +47.8% vs FY:24 (€22.131mn).

 Profile (FY:25 results): Net cash €15.2mn. FY:25 dividend (gross) €0.08/share. 

Alpha Trust Holding (FY:25 results): AGM on May 19. Ex-dividend date May 22. Dividend record date May 25. Payment May 29.

Orilina: The company released their FY2025 results reporting a strong improvement in 2025 performance, with adjusted Gross Asset Value rising to €208.3m and significant gains across key metrics driven by consistent portfolio growth and effective asset management.

Revenues surged 151.8% to €14.9mn, net profit increased 57.6% to €10.7mn, and adjusted EBITDA rose 48.9% to €4.9mn. The company also highlighted progress in its Hellinikon residential development, where 65% of units at Marina Residences by Kengo Kuma are sold or reserved, and noted ongoing construction at the Agios Kosmas Private Club property.

Also, the company reported an Adjusted NAV per share of €1.251 for FY2025. The company is currently trading at a 34.9% discount to its FY2025 NAV, with yesterday’s closing price at €0.814.

    Buybacks

Web Sources: Bloomberg, Reuters, Euro2day, Capital, Liberal, Newmoney, Kathimerini, Energypress, Naftermporiki, Athens Macedonian News Agency , Oikonomikos Tahidromos, Mononews, Business Daily,  Economistas, Power Game, Insider, Bankingnews, Economico, Worldenergynews, AthEx.