Today’s Headlines
· Energy Sector || Greek retail electricity market (EnexGroup) – October 2024
· Fraport is expected to increase capacity of the airports of Santorini, Mykonos, Kos and Corfu
· MSCI quarterly Index Review announcement today amc
· Athens Airport releases strong passenger traffic for October
· CENERGY signs a large HV and EHV underground cable with France
· GEKTERNA signs an SPA with Terna Energy to acquire its non-core assets
· Ideal Holdings is evaluating potential new investments
· Norges Bank increased its stake to 5.08% in Profile Software
· The Board of Directors of Noval Property has accepted the resignation of Mr. Panagiotis Kapetanakos
Sector Headlines
Energy Sector || Greek retail electricity market (EnexGroup) – October 2024
Greek retail electricity market: IPPs market share rose to 51.8% in October 2024 (according to data from Greek Energy Exchange – EnEx). Other key statistics: a) monthly average clearing Price at EUR 90.06/MWh, down by EUR 22.3/MWh m-o-m and by EUR 21.1/MWh y-o-y, b) total Electricity demand at 4,754/GWh, up by 10.8% y-o-y. In more detail, Mytilineos’ Protergia ranks first with 17.62% (19.59% combined with the recently acquired Volterra), GEKTERNA’s Heron follows with 12.90%, ELPE’s Elpedison with 5.87% and MOH’s NRG with 5.16%. As a result, PPC’s retail market share in October 2024 dropped by 2.4% m-o-m to 48.2%, below the EU-mandated 50% mark. Regarding the Generation mix traded in the Day-Ahead Market, RES ranks first with 49% of total (vs. 37% in September), Natural Gas follows with 32% (vs. 36% in the previous month), Hydro Plants 3% (5%), Lignite and Oil-Powered Plants contributed 1% (3%) and 3% (3%) respectively and finally, Imports 13% (16%).
Fraport is expected to increase capacity of the airports of Santorini, Mykonos, Kos and Corfu
According to Euro2day, the CEO of Fraport (operator of 14 regional airports of the country) stressed that the company has an ongoing EUR 150m investment program with the main focus to upgrade the capacity of the airports of Santorini, Mykonos, Kos and Corfu in the near future with the support of RRF funds.
Market Headlines
MSCI quarterly Index Review announcement today amc
MSCI will announce the quarterly index review today after the market close (rebalancing effective date on November 25th, at the closing).
Company Headlines
Athens Airport releases strong passenger traffic for October
Athens International Airport (AIA) released its passenger traffic data for October 2024, according to which total passenger traffic up by 10.0% y-o-y, driven by international traffic (up by 11.1% YoY), while domestic traffic was also up +7.4% y-o-y. For the 10M24 total passenger traffic was up by +12.9% y-o-y, reaching 27.5m passengers with international passengers up by 15.5% (+2.6m passengers) y-o-y and domestic passengers up by 7.3% y-o-y.
CENERGY signs a large HV and EHV underground cable with France
Cenergy Holdings announced that its cable segment, has been selected by the French electricity operator RTE to supply and assemble 170km of 90kV cables, 420km of 225kV cables and associated accessories for its underground network development projects across France. This three-year framework agreement will be manufactured at Hellenic Cables’ facilities in the Thiva plant, which has recently expanded its production capacity.
GEKTERNA signs an SPA with Terna Energy to acquire its non-core assets
In the framework agreement for the sale of Terna Energy to Masdar, GEKTERNA and TE signed an SPA for the transfer of the latter’s non-core assets (mainly waste management and ultra-high-bandwidth infrastructure projects) for EUR 67.5m.
Ideal Holdings is evaluating potential new investments
Ideal Holdings announced that is actively evaluating potential new investments and that there is no information regarding press reports about the potential acquisition of Barba Stathis.
Norges Bank increased its stake to 5.08% in Profile Software
Profile Software announced that Norges Bank increased on 29 October its stake to 5.08%, corresponding to 1,250,932 voting rights.
The Board of Directors of Noval Property has accepted the resignation of Mr. Panagiotis Kapetanakos
The BoD of the company accepted the resignation of Mr. Panayiotis Kapetanakos (CEO and Vice-Chairman of the BoD) and will elect Mr. Michael Panagi as a new CEO and Vice- Chairman.
Calendar of Events
Macros
08/11/24 | CPI OCT (ELSTAT) & Industrial Production SEP (ELSTAT)
14/11/24 | Import Price Index in Industry SEP (ELSTAT)
15/11/24 | Evolution of Turnover of Enterprises 3Q24 & SEP (ELSTAT)
20/11/24 | Current Account Balance SEP (BoG) & Turnover Index in Industry SEP (ELSTAT)
22/11/24 | Fitch – Greek sovereign credit review
Market
06/11/24 | MSCI Index Review announcement (Effective date: November 26, 2024)
3Q/9M24 Results Release
07/11/24 | National Bank of Greece (Aft-mkt), Eurobank Holdings (Aft-mkt), Titan Cement, Alpha Trust Andromeda
08/11/24 | Alpha Services and Holdings (08:00 GR Time)
11/11/24 | Optima bank (Bef-mkt)
12/11/24 | Bank of Cyprus (Bef-mkt)
13/11/24 | PPC (Aft-mkt), LAMDA Development (Aft-mkt)
14/11/24 | HELLENiQ ENERGY (Aft-mkt), OTE (Bef-mkt), Aegean Airlines (Aft-mkt), Austriacard Holdings, Lavipharm
18/11/24 | Cenergy Holdings
20/11/24 | OPAP (Aft-mkt), ElvalHalcor (Aft-mkt), QUEST Holdings (Aft-mkt)
21/11/24 | Ideal Holdings (Bef-mkt)
25/11/24 | Hellenic Exchanges
26/11/24 | Fourlis (Aft-mkt)
12/12/24 | Attica Bank
EGM / AGM
06/11/24 | TERNA Energy (EGM)
08/11/24 | Biokarpet (EGM)
15/11/24 | BriQ Properties (EGM), Intercontinental International REIC (EGM)
19/11/24 | Intrakat (EGM)
22/11/24 | ILYDA (EGM)
Ex-Dividend
11/11/24 | Papoutsanis (interim dividend EUR 0.03)
02/12/24 | CNL Capital (interim dividend EUR 0.25)
23/12/24 | Motor Oil (interim dividend EUR 0.30)
Initiation of trading of new shares
13/11/24 | Attica Bank (from SCI)
Warrants – Attica Bank
08/11/24-28/11/24 | Exercise Period
04/12/24 | Commencement of trading of the warrant exercise shares
Research Department
Equity Research
Τ: 210 8173 383 F: 210 3279 287 E: [email protected]
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