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 Τ: 210 8173 383 F: 210 3279 287 E: [email protected] 32 Aigialeias & Paradissou str., 15125, Maroussi optimabank.gr |
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