Greek Market Watch: MSCI, AIA, Coca Cola HBC, Piraeus Financial Holdings, Alpha Holdings, Ideal Holdings, GEKTERNA

From: Optima bank Research Department
Date: Tue, Feb 13, 2024 at 9:21 AM
Subject: Greek Market Watch: MSCI, AIA, Coca Cola HBC, Piraeus Financial Holdings, Alpha Holdings, Ideal Holdings, GEKTERNA

Market Comment

  • ATHEX headed south yesterday, for 2nd session in a row, underperforming the European stock markets. In more detail, the General Index dropped by 0.49% at 1,394,08 units, (FTSE Large Cap: -0.38%, FTSE Mid Cap: -0.13%, Banks Index: -0.58%) and the traded value was shaped at EUR 85.1m, down from Friday’s EUR 112.0m. We expect ATHEX to try to move higher today, with the support of the international markets. 

Today’s Headlines

·         MSCI changes in Greece Small Cap Index

·         Athens Airport enters FTSE indices today at market close

·         Coca Cola HBC 2023 results out tomorrow 

·         Piraeus Financial Holdings to dispose offsite ATMs-Press

·         Alpha Services and Holdings new shares commence trading today

·         Ideal Holdings denied press reports on the acquisition of ELTON

·         GEKTERNA holds an EGM on 13 February 

Market Headlines 

  • MSCI changes in Greece Small Cap Index

MSCI announced that Intralot and Intrakat will be added to MSCI Greece Small Cap Index. The changes will take place as of the close of 29 February. 

  • Athens Airport enters FTSE indices today at market close

Airport of Athens will be included in the following indices FTSE All-World Index, FTSE MPF All-World Index, FTSE Global Large Cap Index and FTSE Emerging Index effective today at the close. 

  • Company Headlines 

Coca Cola HBC 2023 results out tomorrow 

Coca Cola HBC is set to report FY2023 results tomorrow at 09:00 Athens/ 07:00 GMT Time and management will host a conference call on the same day at 11:00 Athens/09:00 GMT Time. According to Vuma, consensus forecasts group volume to reach EUR ca 2.82bn unit cases (+4% y-o-y), net sales revenue to come in at EUR 10.25bn (+11% y-o-y), comparable EBIT at 1.036m (+11% y-o-y) and net profit at EUR 712.6m (+72% y-o-y). Finally, consensus expects the BoD to propose the distribution of a dividend of EUR 0.89 per share vs. EUR 0.78 in 2022.  

  • Piraeus Financial Holdings to dispose offsite ATMs-Press

According to press, Piraeus Financial Holdings is close to dispose 900 offsite ATMs to Printec. Piraeus is currently operating a network of 1.196 offsite ATMs. The same reports suggest that Alpha (689 offsite ATMs) and National Bank of Greece (877 offsite ATMs) are also mulling the disposal of their offsite networks. 

  • Alpha Services and Holdings new shares commence trading today

Alpha Services and Holdings announced that the 1,142,026 new common shares, derived from the exercise of the Stock Options Rights will start trading today and thus shares outstanding will amount to 2,352,839,697 common, registered shares with voting rights and a nominal value of EUR 0.29 each. Recall that dilution for existing shareholders is minimal, just 0.049%. We reiterate our Buy rating and TP of EUR 2.10/share.

  •  Ideal Holdings denied press reports on the acquisition of ELTON

The company officially denied press reports regarding the acquisition of ELTON. 

  • GEKTERNA holds an EGM on 13 February

GEKTERNA will hold an EGM today to approve among others the cessation of the current share buyback programme and the launch of a new 2-year programme at EUR 0.57-40/share price range. 

Calendar of Events

Macros

14/02/24 | Import Price Index in Industry DEC

15/02/24 | CPI JAN & Evolution of Turnover of Enterprises (4Q23 & DEC)

FY23 Results

14/02/24 | Piraeus Financial Holdings, Coca-Cola HBC

22/02/24 | OTE (Bef-mkt)

28/02/24 | Ideal Holdings (Flash Note)

29/02/24 | HELLENiQ ENERGY (Aft-mkt), Entersoft (Bef-mkt)

05/03/24 | ElvalHalcor (Aft-mkt)

06/03/24 | Optima bank (09:30), Cenergy Holdings

07/03/24 | Eurobank Holdings, Alpha Services & Holdings, Viohalco

11/03/24 | Sarantis

13/03/24 | Titan Cement, OPAP (Aft-mkt)

27/03/24 | Hellenic Exchanges

09/04/24 | PPC (Aft-mkt)

EGM / AGM

13/02/24 | GEKTERNA (EGM)

20/02/24 | Entersoft (EGM)

04/03/24 | Piraeus Port Authority (EGM)

23/04/24 | Sarantis (AGM)

25/04/24 | OPAP (AGM)

Ex-Dividend

19/03/24 | Jumbo (extraordinary cash distribution EUR 0.60/share)

29/04/24 | OPAP

Ex-Capital Return

26/03/24 | Alpha Real Estate Services (EUR 2.20)

Initiation of trading of new shares

13/02/24 | Alpha Services & Holdings (from stock option rights)  

Research Department
Equity Research 

Τ: 210 8173 383 F: 210 3279 287 E: [email protected]

32 Aigialeias & Paradissou str., 15125, Maroussi optimabank.gr 

 

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