Bucharest Exchange blue chips report 45% stronger aggregate profits in Q3 on one-off events
<p>The companies in the basket of Bucharest Exchange blue chips index BET have achieved 45% y/y stronger aggregated net profit in Q3, but this was achieved amid diverging dynamics of different sectors and significant impact of one-off earnings obtained by Banca Transilvania and telecommunications group Digi, according to an analysis of InterCapital Asset management analyst Divo Pulitika and published by <a href="https://www.economica.net/companiile-din-indicele-bet-inregistreaza-o-crestere-de-45-a-profitului-net-in-t3-2024-datorita-castigurilor-unice-raportate-de-digi-communications-si-banca-transilvania_789901.html?mc_cid=44675bb56a&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Economica.net</a>.</p>

<p>Excluding the one-off gains of Digi and Banca Transilvania, the adjusted rise in BET companies' aggregated profit declined by 20% in Q3 2024 compared to Q3 2023, according to the analyst – who also notes that one quarter's dynamics may be misleading, especially given the volatile nature of industries such as banking and energy.</p>

<p>Looking at the results for the first nine months of the year, the gap between reported and the figures adjusted for one-off events narrows, with a 25% increase in reported profit for the BET companies (including one-off earnings) and a 3% increase on an adjusted basis (excluding earnings unique).</p>

<p>Despite recent fluctuations, the BET Index continues to offer an attractive valuation, the analyst concludes, pointing to the profit-to-earnings (PE) ratio. The latest data shows that the index's normalised annualised return fell 5%, which led to a slight increase in the P/E ratio from 9.0x to 9.4x.</p>

<p>At the level of the best-performing companies in the first nine months of 2024, Digi Communications is the leader, with an 887% increase in net profit, reaching RON 1.8 billion, followed by Transgaz, whose net profit increased by 282%, up to RON 146.6 million, MedLife, with an increase of 253% to RON 25.1 million profit, Sphera Franchise Group, with a rise of 115%, up to a RON 70.4 million profit, and Transelectrica, with an increase of 99% up to RON 410.4 million profit.</p>

<p><em>iulian@romania-insider.com</em></p>

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