The Stock Market Flops Tops Stock Market Review Week 20 from May 11 th to May 15 th 2020 CREDIT RISK MANAGEMENT BEYOND NUMBERS Bloomfield Investment Corporation is a pan-African credit rating agency which specializes in the assessment of the credit risk. Headquartered in Abidjan with offices in Douala and in Kigali. the agency operates essentially in Africa. Bloomfield Intelligence Accreditation UEMOA AN-001/2012 RWANDA ref/CMA/July/3047/2015 Headquarters Cocody Riviera 3 – Rue E104. Abidjan - Cote d’Ivoire Website www.bloomfield-investment.com Follow us BRVM 10 k 0.38% 131.09 BRVM COMPOSITE m -0.46% 137.15 Market Trends The BRVM ended this week with 131.09 points for the BRVM 10 index (+0.38%) and 137.15 points for the BRVM Composite index (-0.46%). The capitalization of the equity market stood at 4.121 billion francs CFA. The equity market transactions amounted to 1 233 million francs CFA at the end of the week, mainly driven by « Publics services» (66%) and « Finance » (17%) sectors. SUCRIVOIRE CI recorded the largest growth this week with a gain of 21.18%; BANK OF AFRICA BN while stock showed the largest decline with a lost of 21.79%. On the commodities market, crude oil price continues its upward trend ending the week with a gain of 19.55% to stand at $ 29.43. * Calculated on the basis of the latest financial information published without consideration of companies in liquidation (Source BRVM) Listed Companies 46 Sector Indexes Price Evol% Vol Val (000) PER Y/S SUCRIVOIRE 515 21.18% 11 001 4 806 N/A 14.0% NESTLE CI 270 12.50% 97 26 N/A N/A SICABLE CI 750 11.94% 19 546 14 018 7.0 10.0% VIVO ENERGY CI 640 6.67% 22 978 13 780 7.5 10.0% Price Evol% Vol Val (000) PER Y/S BANK OF AFRICA BN 3105 -21.79% 2992 10174.87 4.2 14.0% BOLLORE AFRICA LOGISTICS CI 1370 -19.17% 4693 6883.95 7.9 13.4% UNIWAX CI 1120 -9.31% 6976 8027.48 5.5 16.2% NSIA BANQUE CI 3000 -9.09% 768 2380.54 5.1 6.5% # Companies Value Evol% Evol YTD Volume Value traded (M FCFA) Avg PER Avg Y/S BRVM – Industry 12 33.13 -0.93% -11.79% 41 033 140 61.9 12% BRVM – Public Services 4 432.06 2.06% -12.09% 124 737 811 9.3 9% BRVM - Finances 16 52.48 -2.31% -11.75% 207 898 211 5.4 10% BRVM - Transport 2 335.74 -18.77% -8.46% 4 693 7 7.9 13% BRVM - Agriculture 5 64.79 0.78% -24.41% 12 320 7 6.4 12% BRVM - Distribution 7 207.80 2.06% -19.18% 66 773 56 9.6 9% BRVM – Other sectors 1 271.45 0.00% -15.39% 4 307 1 3.4 0% Evol Value Average PER* m 14.86 Average yield / share* k 9.36% Market capitalization (billion FCFA) m 4 121 Trading volume (shares) 461 761 Trading volume (bonds) 5 790 Value traded (shares) 1 233 062 906 Value traded (bonds) 57 608 262 11% 66% 17% 1% 5% Valued traded by sector BRVM - Industry BRVM – Public services BRVM - Finance BRVM - Transport BRVM - Agriculture BRVM - Distribution BRVM – Other sectors
Transcript
The Stock Market
FlopsTops
Stock Market Review
Week 20 from May 11th to May 15th 2020
CREDIT RISK MANAGEMENT BEYOND NUMBERS
Bloomfield Investment Corporation is a pan-African creditrating agency which specializes in the assessment of the creditrisk. Headquartered in Abidjan with offices in Douala and inKigali. the agency operates essentially in Africa.
billion against CFAF 37.2 billion FCFA, an increase
of 11% compared to the first quarter of 2019. The
result of ordinary activities also progressed
positively to reach CFAF 1.666 billion,
representing a surplus of 212%. Net profit also
benefited from an increase of 59% to reach CFAF
406 million.
❑ [SODECI]: The Water Distribution Company of
Cote d'Ivoire, published its activity report for the
first quarter of 2020. It shows an increase in
turnover of 26% compared to the first quarter of
2019. The result increased by 16%. However, the
CFAF 31 million loss in financial income
contributed to the 5% decrease in ordinary
income. Net profit also declined to reach CFAF
794 million compared to CFAF A 828 million in
2019, a decrease of 4% compared to the first
quarter of 2019.
The Chief Economist’s Analysis [a focus on UNIWAX CI]
At the end of the first quarter of 2020, the turnover of the UNIWAX company stood at FCFA 8,525.5 millioncompared to FCFA 10,213.6 million in the same period of the previous year, a decrease of 16 .07%. Thisslowdown would come from the 10% drop in sales in the first two months of 2020 combined with thereduction in activity in connection with the covid-19 pandemic. In terms of net profit, it went from FCFA 790.7million on March 31, 2019 to FCFA 236.1 million on March 31, 2020, a decrease of 70.13%. The decreaseobserved is mainly due to the 69.96% contraction in operating profit over the period. On the stock market, theUNIWAX share started 2020 at a price of FCFA 1,725 and reached its highest level on January 29, i.e. FCFA2,000 (+ 15.94% compared to the start of year). The stock observes a serie of depreciations thereafter andtrades at FCFA 1,125 at the end of the session on May 14, a decrease of 34.78% compared to the beginning ofthe year. The easing of the measures taken by the West African States in the context of the fight against thespread of the virus should not lead to a significant recovery in economic activity which will negatively impactUNIWAX and its stock for the next few months.
W20–2020 / P2
CREDIT RISK MANAGEMENT BEYOND NUMBERS
The Stock Market
Public Services Sector
Finance Sector
Industry Sector
Distribution Sector
Transport Sector
Reference price
Evol% Vol Val (000) PER Y/SNet margin
ratioROE
BICI CI 3 670 1.94% 689 2 517 6.25 4.98% 20.1% 18.2%
BANK OF AFRICA BN 3 105 -21.79% 2 992 10 175 4.2 14.04% 84.6% 16.4%
BANK OF AFRICA BF 3 200 0.00% 2 312 7 280 3.8 11.56% 43.3% 31.0%
BANK OF AFRICA CI 3 300 -0.90% 10 073 33 259 4.59 9.27% 40.7% 33.9%
BANK OF AFRICA M 970 -3.00% 754 749 27.94% -21.8% -17.8%
BANK OF AFRICA NG 3 800 -1.30% 13 398 51 301 5.81 11.31% 90.6% 21.1%
BANK OF AFRICA S 1 500 -2.91% 14 055 21 142 3.95 10.67% 40.1% 10.6%
