Despite the corrections on the Stock Exchange over the last two months, investors who selected the shares in their portfolio carefully at the start of the year have doubled their money, or in some cases increased it by four times.
The highest yields were generated by the shares of small companies on the Bucharest Stock Exchange in the first nine months, some of which surprisingly made it into among the top performers, such as THR Marea Neagra (EFO) and Mecanica Ceahlau (MECF), while others continued their positive performances, such as TMK Artrom Slatina (ART) and Rompetrol Well Services (PTR).
On the other hand, some former blue chips were disappointing, unable to perform as well as expected by investors at the beginning of the year. This category includes Petrom (SNP) and Turbomecanica Bucuresti (TBM), both included in the BET index, as well as Banca Carpatica (BCC) and Sicomed (SCD), which in the past had some of the most sought after shares on the Stock Exchange. Still, analysts say that investors should carefully watch shares that increased a great deal, while shares that under performed could be attractive for future investments.
The nine-month growth ranking sees THR Marea Neagra holding the top spot, as it has generated a 356% yield for its investors since the beginning of the year.
The company's shares did not increase a great deal until July, when its representatives appraised assets at some 500 million euros. THR Marea Neagra's capitalisation currently stands at 120 million euros. The sale of around 6% by the majority shareholder, SIF Transilvania, gave shares a boost and allowed a foreign investment fund to buy into the company.
The trend of Electroputere Craiova (EPT) shares was dictated by this year's privatisation process. It had been known, since the beginning of the year, that the company would either be privatised or liquidated, yet investors bet on the former and gained around 325% after the announcement of a takeover by the Saudi-based Al Arrab company.
Another company in almost the same situation at the beginning of the year, Rulmentul Brasov (RBR), is being wound up, which means shareholders have lost 64% of capital that was invested earlier in the year.
High yield-generating companies also include those that have reported better and better results over the last few years. Piping manufacturer TMK Artrom Slatina is one of the companies that generated some of the highest increases on the Bucharest Stock Exchange. Artrom shares have generated a 320% yield since the beginning of the year. The company ranks number one in terms of investor profits in the last seven years, after having multiplied their money 480 times since the end of 2000.
Artrom has become one of the most profitable companies on the Stock Exchange over the last few years, with a significant portion of its profits coming from financial operations.
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