EEII AG
EEII AG: EEII AG publishes annual results 2019
EEII AG / Key word(s): Annual Results/AGMEGM Ad-Hoc Information: EEII Annual Results Zug, April 28, 2020 EEII AG reports on the annual results 2019 Led by the US equity market (S&P 500 + 30%), most stock-exchanges improved distinctively around the globe. The expectations for a further economic recovery impacted commodity prices as well i.e. the cost per barrel crude oil moved from USD 54 to USD 65. Taking advantage of such a fruitful environment, Gazprom unexpectedly announced a dividend increase, leading to a revaluation of its stock price. Prices in the shares of our two other key holdings, Ukrnafta and KAZ Minerals, did not alter. With regards to currencies the increase in the Ukrainian Hryvna (+15 % vs. CHF) added a supportive element to the performance of our Ukrainian investments. The USD and GBP held their ground during 2019, whereas the British Pound was able to recover from its lows, following initial Brexit worries in the mid-year. The election of the new Ukrainian president Wolodymir Zelensky, a former comedian, came like an unexpected earthquake. The newly appointed president started with incredible verve and surprised with an ambitious programs of reforms. Subsequently, culminating in obtaining the suspended IMF stimulus package in the amount of USD 5,5 Bio. This new optimism in a country burdened by never ending crises, was cause for a better performing local currency, improved growth outlooks and last but not least, a capital market bond new issue of Eur 1,25 Bio in January 2020. This positive sentiment was, however, not reflected in the performance of Ukraine’s stock market which closed lower at year-end than at the beginning of the year. Despite all these positive signs in Ukraine, EEII’s key market, a sustainable and prosperous performance of its shares in particular in the energy sector did not occur and seems difficult to conceive going forward. The full annual report for 2019 as well as more detailed information are available for download under www.eeii.ch; a printed copy can be sent to the shareholders upon demand. EEII AG’s Annual General Meeting will take place June 23, 2020, at 11.00h at the City Garden Hotel in Zug. For comprehensive information about the AGM, please refer to: www.eeii.ch For further information, please contact: End of ad hoc announcement |
Language: | English |
Company: | EEII AG |
Alpenstrasse 15 | |
6304 Zug | |
Switzerland | |
Phone: | +41 41 729 42 80 |
Fax: | +41 41 729 42 29 |
E-mail: | info@eeii.ch |
Internet: | www.eeii.ch |
ISIN: | CH0007162958 |
Valor: | 940179 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1031997 |
End of Announcement | EQS Group News Service |