The Slovenia Times

Slovenian stock market bullish in 2023

The Ljubljana Stock Exchange. Photo: Tamino Petelinšek/STA

Slovenian stocks performed well in 2023. Buoyed by across-the-board gains, the SBI TOP benchmark index on the Ljubljana Stock Exchange gained 19.8% to claw back all the losses it incurred in 2022, when it was down almost 17%.

The index closed the last trading day of the year at 1,253.41 points, not far below the record 1,330 points in mid-January 2022, show figures released by the stock exchange operator Ljubljanska Borza.

NLB bank was the top performer on the back of robust revenue and profit growth, adding 36.2% to end the year at €85, just below the all-time high of €86 it achieved in mid December.

Port operator Luka Koper added 30.2%, telecoms incumbent Telekom Slovenije 28.2%, insurance group Sava Re 25%, drug maker Krka 19.6% and energy company Petrol 16.5%.

Insurer Zavarovalnica Triglav, strongly affected by high claims due to natural disasters and the abolition of supplementary health insurance, barely ended in the black, closing 0.6% higher than at the end of 2022.

The only blue chip to close in the red was chemical company Cinkarna Celje, which lost 11%.

Annual turnover totalled €330 million, down 23.4% compared to the year before. Turnover excluding block deals stood at €294 million, a 24% year-on-year decrease.

Much like in previous years, pharmaceutical company Krka was the most heavily traded share, accounting for some 37% of total turnover. NLB followed with 23% Zavarovalnica Triglav added almost 9%.

At €46.3 billion at the end of the year, the overall market capitalization of all securities increased by 4.3% compared to the end of 2022. Equity market capitalization was €9.2 billion, up 19.9%.


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