In its summary sent to MTI, Equilor Befektetési Zrt. Emphasized that the domestic stock market and the forint exchange rate were under significant pressure this week due to the Russian-Ukrainian military conflict. Until the situation is resolved, unfortunately, this could continue in the coming weeks.
Richter has reported excellent results: it has outperformed in all lines and has been able to show good growth on an annual basis. Evra climbed to 8th place in the Top10 product list. Vraylar’s fee income was higher than expected during the quarter.
4iG closed a record year, the Hungarian system integration company published its figures for the fourth quarter of last year after closing the market on Monday. The company’s sales increased to a total of HUF 42 billion in the quarter, which is a new record. In addition to organic growth, the continuous integration of the results of the acquired companies also helps the company.
It was recalled that there have been significant changes in fuel prices. According to a government decree on Monday, the wholesale price of fuels was also fixed at HUF 480, which is valid until 15 May. excise duties on fuels were also reduced, in order to avoid the ever-increasing losses of filling stations.
Among the events of the week, Equilor also emphasized that the central bank had revoked the operating license of Sberbank in Hungary and ordered the liquidation. The National Deposit Insurance Fund will indemnify depositors up to EUR 100,000 per person within 10 days. On Friday, OTP indicated it could buy domestic Sberbank assets.
OTP’s quick report released on Friday morning revealed that in the fourth quarter of 2021, both total revenue and interest income were rising on an annualized basis, reaching a consensus. However, due to higher-than-expected cost increases and taxes, profit lines fell short of expectations. The Russian and Ukrainian subsidiaries had 15.5 percent of total earnings, but the risk-weighted assets of the two countries are equal to two-thirds of OTP’s equity. Management will continue to purchase the previously deferred dividend service, however, after such a share adjustment, the repurchase of treasury shares would call analysts more reassuring.
It was also reported that S&P had downgraded OTP. The credit rating agency downgraded the banking group’s stand-alone credit profile from BBB + to BBB, as the Russian-Ukrainian conflict will have negative consequences and the value of the assets will deteriorate. Only the short- and long-term planned debt ratings were left unchanged, with A-2 and BBB ratings, with a stable outlook, as the company is expected to prove resilient overall.
During the week, Mol’s share price could only rise to $ 2.11, the share closed at HUF 512 on Friday, and its weekly turnover exceeded HUF 16.74 billion.
Richter’s share price decreases the smallest amount, the share closed at 1.84, HUF 650 on Friday, its weekly turnover exceeded HUF 25.11 billion.
Shares of Magyar Telekom closed at HUF 6.99.5 on the last trading day of the week, with a turnover of HUF 2.5 billion during the week.
The biggest drop was in OTP shares: bank securities fell by 29.39 books, closed at HUF 10,415 on the last trading day of the week, and their weekly turnover exceeded HUF 256.37 billion.
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