Opus Global profits climb; listed on Prime Market

Telco

Holding company Opus Global Nyrt. booked H1 after-tax profit of HUF 2.09 billion, a marked improvement from a HUF 767 million loss in the base period as its portfolio expanded, shows an earnings report posted on the website of the Budapest Stock Exchange (BÉT). Shares of Opus Global were listed on the exchangeʼs Equities Prime Market from Tuesday.

Operating revenues rose to HUF 19.37 bln, up from HUF 3.95 bln.

Opus Global (formerly Opimus Group) noted the impact on its earnings of the inclusion in the consolidation of media company Mediaworks and agribusiness Csabatáj.   

Opus Globalʼs net assets came to HUF 9.2 bln at the end of June, up 28% from the end of 2016. Its liabilities fell 6% to HUF 29.0 bln during the period, comprising HUF 21.6 bln of long-term and HUF 7.4 bln of short-term liabilities.

Opus Global announced after the closing bell on Monday that its shares would be listed on the BÉTʼs Prime Market from Tuesday. Until now, the companyʼs shares trade on the Standard Market, tailored to SMEs.

The Prime Market requires issuers to meet several criteria on market capitalization, free float and corporate history.

Opus Globalʼs share price has quadrupled since the spring. The companyʼs shares were included in the CECE index of the Vienna Stock Exchange from 18 September.

Opus Global counts Lőrinc Mészáros, a close ally of Prime Minister Viktor Orbán, among its owners: Mészáros holds 24.37% of Opus.

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