| Date | Event | Analyst forecasts and comments |
|---|
| | Chemicals & Petrochemicals | |
|
01.08.2008
|
Hearings in a claim to deprivatize a 20% stake in Apatit |
If a stake in Apatit is bought by the state, PhosAgro’s control over the company will weaken. This will be favorable for Akron, which will attempt to soften the terms of the agreement on apatite concentrate supplies. |
| | Consumer | |
|
from 20.07.2008 to 25.07.2008
|
Dixy is to report overall and like-for-like revenue for 1H 2008.
|
We expect the company to post robust financials for 1H 2008. Our estimates show that the overall revenue should increase by 48% y-o-y, including a 30% jump in like-for-like sales.
|
|
from 15.08.2008 to 20.08.2008
|
Magnit is to report its operating results in 7M 2008
|
We expert the retail chain to boost its revenue by a whopping 51% y-o-y, given the strong pace of its new store openings and its active expansion into the regions.
|
|
20.08.2008
|
The Nutritek group is to announce its 1Q 2008 operating results in tons
|
As a result, the company’s operating results should become more representative, reflecting more objectively its current sales, due to reorientation of the business towards baby food sales.
|
| | Engineering | |
|
from 21.07.2008 to 31.07.2008
|
Publication of GAZ Group’s 1H 2008 operating results |
We expect a considerable upturn in sales in the trucks and road construction machinery segments. The LCV and bus segments are likely to show moderate growth. |
|
from 08.08.2008 to 19.08.2008
|
Publication of 1H 2008 results by Nefaz |
We expect the company’s revenue to grow by 20% y-o-y and margins to be preserved at the year-earlier level. |
|
from 19.09.2008 to 30.09.2008
|
Publication of consolidated IFRS financials by Sollers (Severstal-Avto) |
We expect the company’s revenue to advance by 50% y-o-y. Margins are likely to drop due to the opening of new dealerships. |
| | Financial sector | |
|
from 01.08.2008 to 31.08.2008
|
Publication of Sberbank financials for 3M 2008 |
We believe that the 3M 2008 financials will bring no surprises. The bank continues to evolve at a rate comparable with that for the entire sector. The management’s ability to control expenses, first and foremost payroll costs, is of primary importance. |
|
from 01.08.2008 to 31.08.2008
|
Publication of Vozrozhdeniye Bank financials for 6M 2008 |
We expect the bank to sustain robust profit margins on its active growth, driven by its workable development strategy. The bank’s capability to maintain strong asset growth rates would be another important factor. The management forecasts the bank’s assets to grow in the 30-35% range in FY 2008. In 1Q 2008, the bank raised its overall assets by a modest 5%. |
| | Metals | |
|
22.08.2008
|
Publication of 2Q/6M 2008 results under US GAAP |
An ongoing growth of steel prices in 2Q 2008 should have a positive impact on MMK’s financial results. Moreover, an 8% y-o-y upturn in production volumes in 1H could affect the company’s revenue. |
| | Power Utilities | |
|
14.08.2008
|
Hearings at a Rosneft lawsuit against TGK-11 over its ‘technical’ additional share issue |
The Neft-Aktiv lawsuit against TGK-11 prevented the genco from being spun off from UES under a standard scheme: via a takeover of TGK-11 Holding, an intermediary structure. A court decision on the case will clarify when UES shareholders will be able to get shares in TGK-11. |
|
15.08.2008
|
The last day of the validity of a Lukoil offer to buy out TGK-8 shares |
At present, the RUB 0.0398 share price indicated in the buyout offer serves as a level of support for TGK-8 shares. It is highly likely that quotations for the shares may decline once the offer expires. |
| | Transportation | |
|
from 01.07.2008 to 31.08.2008
|
FESCO's additional issue. |
In July-August, FESCO is to perform an additional share issue, which should amount to 25% of the company's charter capital. The cost of the additional issue is to be determined in early July. Given the fact that the company's shareholders may be willling to buy out part of the additional issue to prevent dilution of their stakes, we expect the additioanal issue price to be slighltly below the current market valuation. |
|
01.08.2008
|
Publication of UTair's financial report for 2Q 2008. |
We expect Utair's revenue to grow by about 30% in 2Q: in line with our projections, it will remain positive despite a considerable decline in net profit. |
|
15.08.2008
|
Publication of Aeroflot's financial report for 2Q 2008. |
In line with our projections, Aeroflot will continue increasing its revenue against the backdrop of an invariably high demand for air transportation services. However, rapid growth of jet fuel prices will reduce the efficiency of the company's operations. We expect Aeroflot revenue to rise in 1H 2008; however, the company's net profit is likely to fall. |
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