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Sectoral analyses
In this report we take a deep dive into the economics of regional ports. There are 3 key players handling shipping in the region: Luka Koper, Luka Ploče and Luka Rijeka. We offer the rationale for differences through presenting their competitive advantages. We also sought to provide a strong global context through various global shipping and port operating giants.
24.10.2023.
Sectoral analyses
This industry report aims to analyze the performance of the Adria region’s tourism sector in 2022. The report will encompass both macroeconomic and microeconomic aspects of the industry. In addition, the report will remark on valuation indicators and scrutinize the accounting impact on the value of real estate portfolio.
20.10.2023.
Sectoral analyses
In the Adria region, construction activity has been increasing its share within the value added during the last 10y. Compared to the EU average, the Adria region posts higher contribution to GDP from 2019 onwards. In other words, the share of corporate gross profits coming from the construction industry is rising. In this report we are going through drivers of business performance in the construction activity and provide key elements leading the future dynamics over the next few quarters.
16.10.2023.
Regional topics
Credit rating agencies focus on these 5 pillars: institutional, economic, external, fiscal and monetary factors. The rating is determined via a mix of qualitative and quantitative elements, considering the current situation as well as the outlook. The idea of this report is to highlight the movers of sovereign credit ratings and emphasize which policy moves would lift the ratings.
06.10.2023.
Regional topics
Banks profits are spiking in 2023, and this is not concentrated in Adria region but is rather an across-the-globe event. In this report we examine the performance of banks in the Adria region for the 1H 2023, interpret the very recent lending activity and interest rate movements, and provide outlook for the banks’ profits going forward.
28.09.2023.
Sectoral analyses
In this report we analyze the grocery retail industry in Adria region countries, with a special focus on how successful retailers were in navigating the high inflation environment. Report is based on a macroeconomic as well as a single firm-level look of the latest trends.
25.09.2023.
Sectoral analyses
In this report we dissect the vending machine industry in the Adria Region. We explore the reasoning behind the financial performance of some of the largest players in the region and also offer a broader industry context. We lay out the drivers, challenges and outlook for the industry.
18.09.2023.
Sectoral analyses
This industry report aims to analyze the performance of the Adria region’s pharmaceutical sector in 2022. The report will encompass both macroeconomic and microeconomic aspects of the industry. In addition, report will briefly remark on topics such as medicine shortages and the repercussions of current geopolitical tensions in one of the Adria region’s most important markets – Russia.
14.09.2023.
Macro outlook
In this report, we confirm our GDP growth numbers (vs. the previous report) for all Adria region countries, with the rationale behind being that consumer fundamentals remained strong, and they have offset the deteriorated foreign demand environment.
08.09.2023.
Regional topics
Wages in Adria region are growing at the fastest pace in at least 10 years! Slovenia is the latest country in the region where the yoy gross wage growth rate entered into the double digit zone in 1H 2023, with gross wages elsewhere in the Adria region growing at a 10%+ yoy pace already since the 2H 2022.
31.08.2023.
Regional topics
Adria region inflation rates stayed in downtrend in 2023 amid high 2022 base. Bosnia and Herzegovina and Slovenia are on the lower end, posting only 4.9% (Jun-23) and 5.7% yoy inflation in Jul-23, respectively. Croatia posted 8% in Jul-23, showing more persistence as the tourist season began, pushing up demand, while N. Macedonia’s rate slid into the one-digit zone recording 8.7% yoy in Jul-23. Serbia expressed the most stubborn inflation (driven by 21.9% growth in food prices), posting 12.4% yoy in the same period.
25.08.2023.
Sectoral analyses
In this report, we describe the key business drivers in telecom industry, review main competitors in Adria region, point to following investments and their impact on traditional industry also outlook on whole telecommunication industry. Telecommunications industry is highly competitive and faces challenges such as low profit margins, high customer turnover and sensitive customer perception.
22.08.2023.
