Stock Spirits Group

Stock Spirits Group is a spirits company. Co. along with its subsidiaries are engaged in the production and distribution of branded spirits in Central and Eastern Europe. Co.'s spirits include vodka, flavoured vodka, rum, brandy and herbal bitter liqueurs. Co. has more than 40 brands and export internationally to more than 40 countries worldwide. Co.'s brands include Zoladkowa de Luxe, Lubelska, Zoladkowa Gorzka, Stock Prestige, 1906, Fernet Stock, Bozkov, Amundsen, Keglevich, Limonce, Stock Original, Keglevich, Golden, Stock 84, Fernet Stock Citrus, and Hammerhead. Co. has operations in Poland, Czech Republic, Italy, Slovakia, Croatia, and Bosnia and Herzegovina.
  • TickerSTCK
  • ISINGB00BF5SDZ96
  • ExchangeLondon Stock Exchange
  • SectorBeverages
  • CountryUnited Kingdom

STOCK SPIRITS GROUP PLC. with less fundamental stars is reduced to Neutral

STOCK SPIRITS GROUP PLC. (GB), a company active in the Distillers & Vintners industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date June 23, 2020, the closing price was GBp 248.00 and its expected value was estimate...

Research Team

The Rear-View Mirror – EME markets: Rebound continues, all indices in the black on lower volumes

EME Equity Market – May 2020 Market performance – the rebound that started in April continued across the board, with the Romanian BET Index gaining the most in EUR terms (+8.9% mom). The MSCI EM Europe Index gained 6% in EUR terms and 7.5% in local currency; while the Romania BET Index grew 8.9% in EUR terms and 9.1% in RON terms, the best performer for the month. The MOEX Index added 7.5%, while the Polish WIG20 Index was up 6.6%. The Turkish benchmark, the ISE30 Index, added 4.5%, and the Greek ASE Index gained 3.9%, while the Hungarian BUX recorded an increase of 3.7%. The weakest performer...

Research Team

WOOD Daily: SAR GA; BHW PW; RBI AV; JMT PL; ELPE GA; TTKOM TI; KGH PW; CPS PW; BVB RO; TGN RO; SFG RO; TCS LI; MTELEKOM HB; TPE PW; TITC GA; STCK LN; IIA AV; TL Macro; MOEX RX; EAT PW; SBER RX; PLY PW; M RO; ROSN LI; PZU PW

HEADLINES: • Sarantis Group: no such thing as a free lunch (downgraded to HOLD) • Bank Handlowy: 1Q20 results suggest ugly 2020E NEGATIVE • Raiffeisen Int.: 1Q20 - very solid, at face value • Jeronimo Martins: 1Q20 miss due to the pandemic NEGATIVE • Hellenic Petroleum: 1Q20 results - massive inventory loss wipes out profit • Turk Telekom: 1Q20 results - 12% NI beat • KGHM: 1Q20 results - flat EBITDA qoq, FCF breakeven NEUTRAL • Cyfrowy Polsat: 1Q20 results soft, in line with our forecasts and the consensus NEUTRAL • Bucharest Stock Exchange: 1Q20 review - revenues up 37% yoy amid higher ...

Jakub Mician

WOOD Flash – Stock Spirits: 1H FY19/20 – solid results on double-digit volume growth and improved pricing

This morning (13 May), Stock Spirits Group (SSG) reported its 1H FY19/20 results, before the market opened. In our view, the results were strong, double digits above both our and the market’s expectations on volume growth related operating leverage and improved pricing in Poland.

Research Team

WOOD Daily: CEE Banks; CEE Consumers; GPW PW; MNOD LI; MOL HB; OMV AV; SNP RO; LPP PW; MOEX RX; SNN RO; CAI AV; RICHT HB

HEADLINES: • CEE banks: there are no winners, just survivors (coverage universe update) • CEE consumers: #stayathome (coverage universe update) • Warsaw Stock Exchange: 4Q19 EBIT misses consensus by 8% on higher-than-expected opex NEGATIVE • Norilsk Nickel: declares final dividend in line with expectations, and nominates new Board NEUTRAL • MOL: update on business conditions, dividend suspended • OMV: 1Q20 trading update • OMV Petrom: 1Q20 trading update • LPP: CEO expects stores to re-open in June NEUTRAL • Moscow Exchange: number of retail brokerage accounts in Russia up 7% mom in April...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Global Ex-U.S. Equity Strategy

In our January 31 International Compass we presented a case for an incrementally improving overall global outlook, with the caveat that market bottoms tend to be a process that develops over many weeks. Since the end of January, not a lot has changed to alter our views. We remain constructive overall and continue to believe that global equities (MSCI ACWI) are going through a bottoming process. Opportunities exist but Sector leadership is mixed. In our February International Strategy, we explore various themes which lead to our overall constructive outlook, along with areas of the market wher...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

MSCI EM in early stages of bottoming Our overall global outlook remains cautious and continued downward pressure on global equities remains our expectation. This belief is supported in part by the absence of bottoming price action for broad global indexes (MSCI ACWI, ACWI ex-U.S., and EAFE), which are still making lower highs and lower lows. However, one bright spot is EM (more on this below), which continues to give us hope that global equities can bottom out. • Emerging Markets. We began highlighting the MSCI EM index as leadership on a relative basis back in November, so continued outper...

1 director bought

A director at Stock Spirits Group bought 10,000 shares at 214p and the significance rating of the trade was 68/100. 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: Rebound continues, all indices in the black on lower volumes

EME Equity Market – May 2020 Market performance – the rebound that started in April continued across the board, with the Romanian BET Index gaining the most in EUR terms (+8.9% mom). The MSCI EM Europe Index gained 6% in EUR terms and 7.5% in local currency; while the Romania BET Index grew 8.9% in EUR terms and 9.1% in RON terms, the best performer for the month. The MOEX Index added 7.5%, while the Polish WIG20 Index was up 6.6%. The Turkish benchmark, the ISE30 Index, added 4.5%, and the Greek ASE Index gained 3.9%, while the Hungarian BUX recorded an increase of 3.7%. The weakest performer...

Jakub Mician

WOOD Flash – Stock Spirits: 1H FY19/20 – solid results on double-digit volume growth and improved pricing

This morning (13 May), Stock Spirits Group (SSG) reported its 1H FY19/20 results, before the market opened. In our view, the results were strong, double digits above both our and the market’s expectations on volume growth related operating leverage and improved pricing in Poland.

Fani Tzioukalia ...
  • Gabriela Burdach
  • Jakub Mician
  • Lukasz Wachelko, CFA
  • Stefan Lungu, CFA

CEE Consumers: #stayathome (coverage universe update)

The development of the COVID-19 pandemic has changed the landscape for consumer names materially. While #stayathome is slowing down the contagion, it has infected the foundations of discretionary retailers severely. At the same time, the staples players have seen a sales boost, especially in the e-commerce space. Facing such a storm among the especially vulnerable players hurt by store lockdowns and carrying high leverage, we identify: AmRest, CCC, Kofola and Fourlis. On the other hand, FMCG distributors and manufacturers are the relative winners. However, taking into account share price perfo...

Raiffeisen Centrobank Equity Daily 05.03.2020

 CECE index review - Add: Stock Spirits; Del: Any Security Printing, CIG Pannonina, Kofola; Adjustments in 3 other stocks  AT: Addiko Bank - FY net profit of EUR 35.1 mn in line with preliminary / Management proposes to pay EUR 2.05 DPS from 2019e earnings / Mid-term guidance revised downwards to ROTE @ 14.1 CET1 of ca. 10% vs. >12% before (positive)  AT: Flughafen Wien - Austrian Airlines to cut European capacities by 20% (negative)  AT: IMMOFINANZ - Rudolf Fries resigns from IMMOFINANZ supervisory board (neutral)  PL: Ciech - The company is in talks to build heat and power plant in Rom...

Research Team

The Rear-View Mirror – EME markets: All EME markets down on February coronavirus fears

EME Equity Market – February 2020 Market performance – Hungarian BUX lost the least, while the Greek ASE contracted the most in February, in EUR terms. While the MSCI Emerging Markets Europe Index lost 14% mom in EUR terms in February, the Hungarian BUX was down 7% mom in EUR terms, followed by the Romanian BET index (-9.7% mom) and the Czech PX index (also -9.8% mom). The rest of the regional indices contracted by double digits, with the largest drop in the Greek ASE index (-21% mom), followed by the Russian MOEX (-13% mom), the Turkish ISE30 (-15% mom) and the Polish WIG20 (-15% mom).

Research Team

WOOD Daily: SAR GA; BHW PW; RBI AV; JMT PL; ELPE GA; TTKOM TI; KGH PW; CPS PW; BVB RO; TGN RO; SFG RO; TCS LI; MTELEKOM HB; TPE PW; TITC GA; STCK LN; IIA AV; TL Macro; MOEX RX; EAT PW; SBER RX; PLY PW; M RO; ROSN LI; PZU PW

HEADLINES: • Sarantis Group: no such thing as a free lunch (downgraded to HOLD) • Bank Handlowy: 1Q20 results suggest ugly 2020E NEGATIVE • Raiffeisen Int.: 1Q20 - very solid, at face value • Jeronimo Martins: 1Q20 miss due to the pandemic NEGATIVE • Hellenic Petroleum: 1Q20 results - massive inventory loss wipes out profit • Turk Telekom: 1Q20 results - 12% NI beat • KGHM: 1Q20 results - flat EBITDA qoq, FCF breakeven NEUTRAL • Cyfrowy Polsat: 1Q20 results soft, in line with our forecasts and the consensus NEUTRAL • Bucharest Stock Exchange: 1Q20 review - revenues up 37% yoy amid higher ...

Research Team

WOOD Daily: CEE Banks; CEE Consumers; GPW PW; MNOD LI; MOL HB; OMV AV; SNP RO; LPP PW; MOEX RX; SNN RO; CAI AV; RICHT HB

HEADLINES: • CEE banks: there are no winners, just survivors (coverage universe update) • CEE consumers: #stayathome (coverage universe update) • Warsaw Stock Exchange: 4Q19 EBIT misses consensus by 8% on higher-than-expected opex NEGATIVE • Norilsk Nickel: declares final dividend in line with expectations, and nominates new Board NEUTRAL • MOL: update on business conditions, dividend suspended • OMV: 1Q20 trading update • OMV Petrom: 1Q20 trading update • LPP: CEO expects stores to re-open in June NEUTRAL • Moscow Exchange: number of retail brokerage accounts in Russia up 7% mom in April...

Research Team

WOOD Daily: YKBNK TI; RO Macro; RBI AV; KOMB CP; MONET CP; ING PW; MBK PW; TGN RO; SNN RO; OTKAR TI; SNP RO; OMV AV; CETV US; KTY PW; PL Macro; STCK LN; MMK LI; TOASO TI; PKN PW; SAHOL TI; RICHT HB; YNDX US

HEADLINES: • Yapi Kredi: our take on the UCG ABB POSITIVE • Romania macro: government falls after vote of no confidence NEUTRAL • Raiffeisen Int.: strong net profit on one-offs in other income, no guidance on 2020E, DPS at EUR 1 NEUTRAL • Komercni Banca: miss on bottom line in 4Q19, but surprise to the upside with DPS recommendation NEUTRAL • MONETA Money Bank: 4Q19 - below consensus, but raises mid-term guidance to reflect impact of M&A POSITIVE • ING BSK: 4Q19 results broadly in line with our forecasts NEUTRAL • mBank: posts neutral set of results as market focuses on merger NEUTRAL • Transg...

Research Team

Focus: keeping our BUY on Wirtualna Polska (new PT of PLN 80.0); maintaining our HOLD on ANY Security Printing Company PLC (new PT HUF 1,469); Electrica – regulated supply losses to be fully recovered in 2020E under government proposal

HEADLINES: • Wirtualna Polska: let's ride the wave of e-commerce (stays BUY) • ANY Security Printing Company PLC: growth secured; margins, not so much (stays HOLD) • Electrica: regulated supply losses to be fully recovered in 2020E under government proposal • Eurobank: completion of project Cairo and sale of FPS • Magnit: VTB believes Magnit is undervalued and is considering adding to its position NEUTRAL • Stock Spirits Group: Western Gate calling for special dividend, with a yield of 5.2% NEUTRAL • Nuclearelectrica: special dividends rejected at the shareholder meeting • mBank: another ...

Research Team

Focus: Polish banks - the PFSA has published its 2019E dividend guidance from net profits; Stock Spirits’ 2H FY18/19E results - solid revenue growth, mitigated by soft gross margin performance; Moscow Exchange November trading volumes

HEADLINES: • Polish banks: PFSA publishes its 2019E dividend guidance from net profits NEUTRAL • Stock Spirits: 2H FY18/19 results - solid revenue growth, mitigated by soft gross margin performance NEGATIVE • Moscow Exchange: November trading volumes NEGATIVE • The Rear-View Mirror - EME markets: only the Polish WIG20 in the red in November • LiveChat Software: postcard from Prague • Warsaw Stock Exchange: postcard from Prague • O2 Czech Republic: postcard from Prague • MedLife: postcard from Prague • Mobile TeleSystems: postcard from Prague • Rostelecom: postcard from Prague • MLP Care...

STOCK SPIRITS GROUP PLC. with less fundamental stars is reduced to Neutral

STOCK SPIRITS GROUP PLC. (GB), a company active in the Distillers & Vintners industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date June 23, 2020, the closing price was GBp 248.00 and its expected value was estimate...

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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