EU exports of medical and pharmaceutical products to countries outside the bloc decreased by 3.5% in 2023 vs. 2022, while imports increased by 6.1%, according to Eurostat data. Germany and Ireland registered the largest surpluses, while Romania, Slovakia, Malta, Estonia and the Czech Republic were the only countries with trade deficits. Among the 5, Romania had the largest deficit, of EUR 332 million – exports outside the EU were worth EUR 327 million (1.3% of the total exports of EU countries), while imports totaled EUR 659 million. EUR. (Source: Economica.net)
In nominal terms, the electricity prices paid by domestic consumers in Romania, expressed in euros, are among the lowest in the European Union. According to Eurostat data, domestic customers in Romania pay, on average, 14.4 eurocents/kWh, being the fifth lowest price among all EU states, after Hungary, Bulgaria, Malta and Croatia. At the opposite pole, the highest prices are paid in Germany, Ireland and Belgium. (Source: Economica.net)
The US and China will hold the first government talks on artificial intelligence in the coming weeks, according to the US Secretary of State. The United States has imposed restrictions on Beijing’s ability to access cutting-edge technology and is moving closer to banning the social media app TikTok unless its Chinese parent company, ByteDance, sells it. Anthony Blinken, however, did not provide any updates on TikTok. (Source: CNBC)
The PCE index, in line with the month of February
The core price index for US consumers, the main indicator tracked by the Federal Reserve to measure inflation, increased by 2.8% in March 2024 compared to the previous year, being in line with the increase recorded in February. By comparison, analysts were expecting a 2.6% increase. This is the smallest increase since March 2021. (Source: Trading Economics)
Transgaz Current price 18.84 RON ( -0.74% ) MCap 3.54BP/E 19.11
On Friday, Transgaz organized the launching ceremony of the “Tarmul Marii Black-Podisor” natural gas transport pipeline, together with Kalyon, the Turkish gas pipeline builder. The value of the works amounts to 1.4 billion RON, being an important project from the perspective of Romania’s energy security. The pipeline is divided into two sections, one of 32.5 km and one of 275.9 km. (Source: ZF)
Conpet Ploiesti Current price 88.2 RON (0.68%) MCap 763M P/E 12.7
Conpet shareholders approved in the AGM the distribution of 58.7 million RON in the form of dividends, of which 57.8 million RON comes from the profit reported by the company in 2023, and 862,397 RON from the distributable carried forward result. The gross dividend per share is 6.7864 RON, implying a yield of 7.72%. The registration date was approved for May 29, while the payment will be made on June 17. (Source: ZF)
Oil Terminal Current price 0.1210 RON ( -0.41% ) MCap 362M P/E 25.3736
Oil Terminal approves in the AGM the distribution of 9.6 million RON in the form of dividends from the net profit obtained in 2023. The value of the gross dividend is 0.0032 RON, which implies a yield of 2.69%. The ex-date is set for May 20, and the payment will be made on June 10. (Sources: ZF; BVB)
Romgaz Current price 52.20 RON ( -0.95%) MCap 20.1BP/E 7.15
Romgaz announced the distribution of 20% of its net profit for 2023 in the form of dividends. The shareholders will receive a total of 523.8 million RON, the Romanian state, which holds a 70% stake, will receive 366.7 million RON. Despite this news, Romgaz shares fell by 1.7% from the market value, against the background of a trading volume of 1 million RON and a stock market capitalization of about 20 billion RON. Meanwhile, Romgaz reported for last year a profit increase of 10.4% compared to the previous year, to RON 2.8 billion, although sales decreased by 9%. Also, the company recorded a significant production of 1.29 billion cubic meters of natural gas in the first quarter, marking an increase of 4.4% compared to the same period of 2023, despite a 7% decrease in gas sales from production internal compared to last year. In addition, Romgaz’s electricity production decreased by 18% in the first quarter, to 263 GWh. (Sources: ZF; Economica.net)
Societatea Energetica Electrica Current price 13.38 RON (1.67%) MCap 4.63BP/E 7.47
The shareholders of Electrica, a company controlled 48.8% by the Romanian state through the Ministry of Energy, approved on April 25 the distribution of dividends worth almost 40 million RON from last year’s net profit. The Romanian state will receive approximately 19.5 million RON. The gross dividend per share is 0.1178 RON, which means a yield below 1%, at a market price of 13.08 RON per share. The dividend payment is scheduled for June 21. In 2023, Electrica recorded an 11% increase in consolidated net profit, reaching RON 620.4 million, although operating revenues decreased by 3.7%, to RON 13.3 billion. (Source: ZF)
Aquila Part Prod Com Current price 1,190 RON (0.42%) MCap 1.42BP/E 14,733
Aquila announces the completion of the acquisition of the companies Parmafood Group Distribution SRL and Parmafood Trading SRL, following the fulfillment of all the conditions stipulated in the contract. “We are completing the second transaction of this year. The acquisition of the two Parmafood companies marks an important moment in the announced evolution of Aquila and represents a concrete step in our growth strategy, with a direct impact on the HoReCa market”, said Catalin Vasile, CEO of Aquila. (Source: ZF)
Impact Developer & Contractor Current price 0.2410 RON (0.42%) MCap 570M P/E 16.3351
Through an important legal victory, Impact Developer & Contractor SA won the appeal at the Cluj Court of Appeal. The court ruled in favor of the termination of the framework contract concluded in 2007 with Cluj-Napoca City Hall and ordered the payment of approximately 10 million RON as damages and legal interest. This decision ends a long-running litigation that originated in a failed residential project agreement. (Source: BVB)
Exxon Mobil Corporation Current Price USD 117.07 ( -3.51% ) MCap 478B P/E 9.26
Exxon Mobil reported a weaker-than-expected profit for the first quarter, with results affected by a significant decline in refining margins and a sharp decline in natural gas prices. The company posted net profit per share of $2.06, missing Wall Street expectations of $2.20 per share, although revenue topped forecasts at $83.08 billion. Despite rising oil and gasoline futures prices, lower natural gas prices and reduced refining margins contributed to a difficult quarter. Profits in the fuel business fell dramatically, by 67%, while profits in the chemical segment more than doubled. (Source: CNBC)
Chevron Corporation Current Price USD 163.99 ( -0.78% ) MCap 309B
Chevron beat analysts’ expectations, posting net profit per share of $2.93, despite net income falling 16% to $5.5 billion. Revenue fell to $48.72 billion, missing forecasts. The decrease was due to the reduction of refining margins and natural gas prices. US oil and gas revenues rose 16% on the back of increased production, particularly in the Permian Basin. Despite the challenges, global production reached a record level of 3.35 million barrels per day. Chevron remains optimistic about completing the Hess Corp acquisition in 2024. (Source: CNBC)
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