Upcoming Events
| Date | Event | Analyst forecasts and comments |
|---|---|---|
Chemicals & Petrochemicals |
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| 03.09.10 | Publication of 1H2010 IFRS financials by Uralkali |
The 1H2010 financials from Uralkali are likely to show marked growth in production volumes, revenues and EBITDA y-o-y. Growth in financials and manufacturing figures should in large measure be linked to the low base effect in a crisis-ridden 2009. 1H 2009 turned out to be the worst period for many producers, and Uralkali is no exception. For all that, we expect the financial statement to evoke a positive response on the stock market. |
| 10.09.10 — 11.10.10 | The buyout of shares by Acron under a share buyback program announced in May. |
As the acceptance of bids from shareholders has already ended, the buyback factor could no longer shore up Acron shares, in our view. Moreover, under its ownership structure program, Dorogobuzh is to launch the sale of 2% of Acron shares on the market in the mid term, which could exert downward pressure on Acron shares. |
| 17.09.10 | EGM of Uralkali shareholders |
An EGM of Uralkali shareholders has been initiated by a new shareholder, KALIHA FINANCE Ltd., which represents the interests of Mr. Kerimov. The meeting is intended to elect a net board of directors, seats on which are to go to Uralkali new shareholders. We do not expect the event to have any tangible effect on quotes for Uralkali shares. |
Construction |
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| 01.09.10 — 12.09.10 | Trade in Mostotrest shares to be resumed after stock split |
The liquidity of Mostotrest shares is expected to surge after the stock split, done at a 1:200 ratio. As before, we regard Mostotrest as one of the best investment opportunities in the infrastructure development sector. Our rating for the company’s common shares is BUY with a 12-month target of USD 7.40 per share, taking into account the stock divide. |
Consumer |
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| 01.09.10 — 30.09.10 | M. Video to release financials for 1H2010 |
According to our estimates, 1H2010 revenue will advance 27% y-o-y to USD 1.4 billion, while a decrease in debt servicing costs should cause net margin to widen to 1.8%. |
O&G |
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| 14.10.10 | Meeting of OPEC member states |
The meeting, due to take place in Vienna, is unlikely to result in a change in oil production quotas. The current oil price level is fairly comfortable for most of OPEC member states, as their authorized representatives have repeatedly said. The issue about altering production quotas may arise if crude prices exceed USD 90 per barrel. |
| 01.12.10 | Tariff rates for Transneft to be increased by 9.9% |
The FTS predicts oil transportation rates at Transneft to rise at a 15% CAGR by 2014. The increase in tariff rates, scheduled for December 1, has already been approved by the Tariff Service and should bring up Transneft’s revenues in 2011. |
Telecommunications, IT |
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| 10.09.10 | Sitronics to post 2Q2010 US GAAP financial statement |
No serious improvement in financial figures is expected, as there is not enough solvent demand for domestically-made high-tech products in Russia. |