11 Bit Studios S.A.

11 BIT STUDIOS SA is a Poland-based company engaged in the game development industry. Its product portfolio includes four games: Anomaly Korea, Sleepwalker's Journey, Funky Smugglers and Anomaly Warzone Earth. The Company produces video games for different devices, such as video consoles, personal computers (PC), and Apple products (iPhone, iPad), among others.
  • Ticker11B
  • ISINPL11BTS00015
  • ExchangeWarsaw Stock Exchange
  • SectorLeisure Goods
  • CountryPoland
Research Team

The Rear-View Mirror – EME markets: Equities back in the red in EUR terms in July

EME Equity Market – July 2020 Market performance – majority of indices in the red, with the ISE30 Index down 12.6%. Following its mediocre decline in June, the MSCI EM Europe Index declined 4.4% in EUR terms, but gained 0.4% in local currency terms in July. Following the rather large decline in the Turkish equities, the MOEX Index was also down, 3.5%, in July; while the Athens’ benchmark declined 3.3% and the Romanian BET Index fell 3.2%. Following its gain last month, the PX Index declined by 2.4%, followed by the Hungarian BUX Index, -0.4%. The only benchmark with a positive return in EUR te...

Tomasz Rodak

11 bit studios: 2Q20 results forecast

11 bit studios: 2Q20 results forecast

Research Team

WOOD Daily: SPL PW; YNDX US; AKBNK TI; TOASO TI; FROTO TI; BIZIM TI; WIZZ LN; SNP RO; OMV AV; GTC PW; AFLT RX; TRP RO; PL Utilities; PGE PW; CIE PW; GR6 BU; JSW PW; MTSS RX; OPL PW; ENG PW; PKN PW; ASELS TI; CPS PW

HEADLINES: • Santander Bank Polska: 2Q20 - strong delivery on costs, revenues under pressure • Yandex: 2Q20 results - softer ad market, but recovering swiftly • Akbank: 2Q20 highlights - in line, but earnings quality somewhat weak, new guidance • Tofas: 2Q20 results - all-time high PBT margin, guidance raised POSITIVE • Ford Otosan: 2Q20 results - beat on EBITDA, guidance raised, but reflected in the price already NEUTRAL • Bizim Toptan: 2Q20 in line with expectations NEUTRAL • Wizz Air: strong cash position maintained, strong momentum going into the summer NEUTRAL • OMV Petrom: 2Q20 resul...

Research Team

WOOD Daily: RU Macro; PL Retail; LTS PW; ENJSA TI; PL Utilities; YNDX US; MGNT LI; MOEX RX; LVC PW

HEADLINES: • Russia macro: CBR cuts policy rate by 25bps - monetary policy to remain the playmaker in the coming year • Polish retail: Lower House of Parliament votes sugar tax through - worst for Eurocash NEGATIVE • Lotos: announces 2Q20E estimates • Enerjisa Enerji: to raise TRY 1.5bn of debt • Polish utilities: Polish coal production may end in 2036 • Yandex: 2Q20E preview - key areas of focus (due out tomorrow) • Magnit: 2Q20E preview (due on 30 July) NEUTRAL • Moscow Exchange: 2Q20E preview - well on track to meet our 2020E forecasts (due on 21 August) • LiveChat Software: 1Q20-21E ...

Allegiance Coal (ASX:AHQ)

Full Report can be accessed on Subsequent to our March 2018 update, Allegiance Coal (“Allegiance” or “the Company”) has made major progress on key fronts on its Tenas Coking Coal Project (“Tenas” or “the Project”), located just 375km by rail from the under-utilised Ridley Island Coal Terminal (“RICT”) in northwestern British Columbia, Canada. To reiterate, Tenas has the potential to produce mid-volatile, semi-soft coking (“SSCC”) or PCI coal at FOB costs in the lower 5% of the global sea-borne trade with resultant robust returns from the Project. This is by virtue of the low strip ratio and ...

11 Bit Studios S.A.: 3 directors sold

Three Directors at 11 Bit Studios S.A. sold 15,700 shares at 460.000PLN. The significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names ...

Research Team

The Rear-View Mirror – EME markets: Equities back in the red in EUR terms in July

EME Equity Market – July 2020 Market performance – majority of indices in the red, with the ISE30 Index down 12.6%. Following its mediocre decline in June, the MSCI EM Europe Index declined 4.4% in EUR terms, but gained 0.4% in local currency terms in July. Following the rather large decline in the Turkish equities, the MOEX Index was also down, 3.5%, in July; while the Athens’ benchmark declined 3.3% and the Romanian BET Index fell 3.2%. Following its gain last month, the PX Index declined by 2.4%, followed by the Hungarian BUX Index, -0.4%. The only benchmark with a positive return in EUR te...

Tomasz Rodak

11 bit studios: 2Q20 results forecast

11 bit studios: 2Q20 results forecast

Research Team

DM BOŚ: Daily research report – date 6.07.2020

Headlines Conferences calendar … 2 Large-cap companies news … 3 PGNiG: Update on CCGT investments PKO BP:Term deposits for corporate clients no longer offered Alior: PKN CEO on restructuring at Ruch Banks: FX mortgage litigation to take few years before uniform cases law is established Banks: Settlement of annulled FX mortgage contract increasingly important Banks: Court denies bank’s claims against FX mortgage borrowers Banks: Restructuring at Pesa yields first results Banks: Number of bankruptcies strongly on the rise Banks: Sector results for May Small- and mid-cap companies new...

Sobiesław Pająk

DM BOŚ: Daily research report – date 1.07.2020

Headlines Conferences calendar … 2 Large-cap companies news … 3 PGNiG: US$ 1.5 billion of compensation from Gazprom returned to PGNiG Dino: Agreement with Krot Invest prolonged for a next 5 years period PKN Orlen: 2Q20 publication date changed Lotos: PLN 1.0 per share dividend from FY19 profits accepted by AGM JSW: No dividend from FY19 profits accepted by AGM Pekao: New head of PR PKO BP: Insurance premium expected to grow by 1.5 billion in 5 year business plan Alior: Restructuring proceeds at Ruch PZU: Costs of new headquarters lease to run up to PLN 787 million Banks: NBP intere...

Research Team

WOOD Daily: SPL PW; YNDX US; AKBNK TI; TOASO TI; FROTO TI; BIZIM TI; WIZZ LN; SNP RO; OMV AV; GTC PW; AFLT RX; TRP RO; PL Utilities; PGE PW; CIE PW; GR6 BU; JSW PW; MTSS RX; OPL PW; ENG PW; PKN PW; ASELS TI; CPS PW

HEADLINES: • Santander Bank Polska: 2Q20 - strong delivery on costs, revenues under pressure • Yandex: 2Q20 results - softer ad market, but recovering swiftly • Akbank: 2Q20 highlights - in line, but earnings quality somewhat weak, new guidance • Tofas: 2Q20 results - all-time high PBT margin, guidance raised POSITIVE • Ford Otosan: 2Q20 results - beat on EBITDA, guidance raised, but reflected in the price already NEUTRAL • Bizim Toptan: 2Q20 in line with expectations NEUTRAL • Wizz Air: strong cash position maintained, strong momentum going into the summer NEUTRAL • OMV Petrom: 2Q20 resul...

Research Team

WOOD Daily: RU Macro; PL Retail; LTS PW; ENJSA TI; PL Utilities; YNDX US; MGNT LI; MOEX RX; LVC PW

HEADLINES: • Russia macro: CBR cuts policy rate by 25bps - monetary policy to remain the playmaker in the coming year • Polish retail: Lower House of Parliament votes sugar tax through - worst for Eurocash NEGATIVE • Lotos: announces 2Q20E estimates • Enerjisa Enerji: to raise TRY 1.5bn of debt • Polish utilities: Polish coal production may end in 2036 • Yandex: 2Q20E preview - key areas of focus (due out tomorrow) • Magnit: 2Q20E preview (due on 30 July) NEUTRAL • Moscow Exchange: 2Q20E preview - well on track to meet our 2020E forecasts (due on 21 August) • LiveChat Software: 1Q20-21E ...

Research Team

WOOD Daily: OPAP GA; CIE PW; EME Strategy – EU Frontier Markets; NRP NA; RTKM RX

HEADLINES: • OPAP: endurance race (stays BUY) • Ciech: sweetener and salt - both far away (downgraded to SELL) • EME Strategy: European Frontier markets - market reclassifications ahead • NEPI Rockcastle: to restart sales talks with AFI on office portfolio POSITIVE • Rostelecom: board recommends DPS of RUB 5.0 NEUTRAL

Research Team

The Rear-View Mirror – EME markets: Equity returns mixed as rebound forces weaken

EME Equity Market – June 2020 Market performance – in June, Turkish equities performed the best (+7.7%), while Hungary was the weakest (-2.2%). Following its rebound in the past couple of months, the MSCI EM Europe Index declined in June, losing 1.8% in EUR terms and 0.6% in local currency terms. Turkish equities were the best performers, with the ISE30 Index +7.7%, followed by Prague’s PX Index (+3.5%), and the WIG20 (+2.3%). After its good run in May, the Romanian BET lost 0.3% in June, while the Russian MOEX was down 2%. Greek equities declined 2.1%, while the worst-performing index was the...

Research Team

WOOD Daily: GR6 BU; CCOLA TI; ALR PW; EME Macro/Strategy – ESI; CEZ CP; DIGI RO; MAIL LI; 11B PW; SNP RO

HEADLINES: • Gradus: let's buy some chickens! (BUY - initiation of coverage) • Coca-Cola Icecek: turning negatives into positives (upgraded to BUY) • Alior Bank: CFO, CRO and retail segment board members all resign NEGATIVE • EME Macro/Strategy: labour market - the good and the bad • CEZ: AGM approves CZK 34/share dividend NEUTRAL • DIGI Communications: Romanian telecoms regulator approves roaming surcharges for next 12 months POSITIVE • Mail.ru: GDRs to be listed on MOEX on 2 July POSITIVE • 11 bit studios: takeaways from the online conference • OMV Petrom: wins tender for oil and gas ...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

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