Report
Sobiesław Pająk
EUR 20.00 For Business Accounts Only

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 interest rate data

Banks: Rising number of POS terminals

Banks: US banks ration loan granting

Small- and mid-cap companies news … 6

LiveChat: (i) 1Q20 results released – very strong, ahead of expectations, (ii) PLN 2.48 DPS proposal

LSI Software: New contract signed (PLN 9.2 million)

11 bit studios: Insider buying

Comp: Bond redemption

DataWalk: Production contract with Link4

Puławy: Stock goes ex-dividend; 12M EFV adjusted accordingly

Ronson: PLN 0.06 per share dividend from FY19 profits accepted by AGM

BNP PL: AGM voted on resolutions

Idea Bank: EGM called

COVID19: Epidemic tracker – effective reproduction ratio

Poland: capital market calendar … 12

DM BOÅš Coverage Universe … 16

Underlyings
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.

Alior Bank SA

Alior Bank is a universal lending and deposit-taking bank which renders services to individuals, legal persons and other entities which are Polish and foreign persons. Co.'s core activities include maintaining bank accounts, granting loans and advances, issuing banking securities and purchasing and selling foreign currency. Co. also conducts brokerage activities, consulting and financial agency services and renders other financial services.

BANK POLSKA KASA OPIEKI SA

Bank Polska Kasa Opieki (the Bank) is a commercial bank providing a range of banking services, mainly in Poland. The segments of the Bank are as follows: Retail banking, which comprises all banking activities related to retail customers and small and micro companies; Private banking, which comprises all banking activities related to the affluent individual customers; Corporate and Investment banking, which comprises all banking activities related to the companies, interbank market, debt securities and other instruments; and Assets and Liabilities Management and other, which is engaged in the supervision and monitoring of fund transfers, and other activities centrally managed.

BNP Paribas Bank Polska

BNP Paribas Bank Polska SA, formerly Bank BGZ BNP Paribas SA and Gospodarki Zywnosciowej SA, is a Poland-based bank. The Bank divides its operations into three segments: Retail Banking includes sales of products and services for individuals, such as current and deposit accounts, term deposits, granting of housing loans and cash loans, mortgage loans, revolving loans, overdrafts, issuing debit and credit cards, service of foreign cash transfers, entering into foreign exchange transactions, among others; Institutional Banking includes sales of products and services for enterprises, companies and cooperatives, individual entrepreneurs, individual farmers, non-profit institutions and public sector entities; and Financial Markets, Assets and Liabilities Management covers activity in the area of financial markets and liquidity management.

Comp Safe Support S.A.

Comp SA is a Poland-based company active in the information technology (IT) sector. The Company offers IT consulting, creating conceptual solutions, project advice, integration of different system platforms, training and service, and net infrastructure for local and wide area network systems. Comp SA owns data processing centers and back-up centers. Additionally, the Company produces computers, peripheral equipment and cash registers. Among the Company's major partners are companies from the finance, public, transport, services, telecommunications and other sectors. As of December 31, 2011, the Company formed a capital group with its 15 subsidiaries, including Pacomp Sp. z o.o., Safe Computing Sp. z o.o., Enigma Systemy Ochrony Informacji Sp. z o.o., ZUK Elzab SA and Comp Centrum Innowacji Sp. z o.o., among others.

Datawalk SA

Datawalk SA Formerly known as Pilab SA. Datawalk SA, formerly known as Pilab SA, is a Poland-based a software publisher. The Company specializes in the area of data analysis, offering Business Intelligence solutions. It operates DataWalk, an agile analysis platform, which enables financial and insurance institutions to discover fraud attempts, combat money laundering, as well as analyze and monitor business processes, such as sales, claim adjustment and debt collection, among other applications. The Company operates through Datawalk Inc, its wholly-owned subsidiary based in the United States.

Dino Polska S.A.

Dino Polska is engaged in the business of retail sale in non-specialized stores with food, beverages and tobacco. In addition, Co. conducts processing of meats and the resulting products are dedicated, in the form of culinary meat, to external recipients within Co.'s retail chain. As of December 31, 2016, Co. operated a network of 628 Dino stores.

Grupa LOTOS S.A.

Grupa Lotos is an oil concern which deals with oil extraction and processing and trading of high quality oil products. Co. supplies the market with, unleaded petrol, diesel oil, fuel oil, aviation fuel, industrial oil, asphalt and paraffin, among other things. Co. is engaged in the production and sales of engine oils and bitumen in Poland. Co. maintains oil exploration and production activities in the Baltic, North Sea and Norwegian Sea and operates three refineries in Gdansk, Jaslo and Czechowice, Poland. Co. markets its products in wholesale markets, as well as in retail markets through a network of petrol stations.

Idea Bank SA

Idea Bank SA is a Poland-based bank, which provides services to individual, as well as commercial customers. The Bank's activities are divided into five segments: Banking Activity, which includes savings accounts, sales financing, leasing, credit cards, debit cards, real estate credit, loans, and factoring, among others; Leasing, which offers sales financing services; Financial Intermediation, which comprises investment and tax advisory, distribution of financial and investment products, as well as real estate management, among others; Debt Recovery, which delivers collection of customer's debts; and Others. Furthermore, It provides an access to Idea Cloud, an online platform that facilitates the customers to manage their companies. The Bank is a parent of a range of entities, such as Idea Leasing SA, Tax Care SA, Idea Expert SA, Getin Leasing and Idea Money SA. It operates a number of branches in Poland.

Jastrzebska Spolka Weglowa S.A.

Jastrzebska Spolka Weglowa is a producer of type 35 coking coal (“orthocoking coal” according to Polish Standard). The main line of Co.'s business is also the mining and sales of steam coal. Co. is also central for selling all coal derivative products, i.e. coke and hydrocarbons produced by coking plants owned by the JSW S.A. Capital Group. The mining area is located in the Upper Silesian Coal Basin. The principal clients for Co.'s products are located primarily in Poland, Germany, Austria, the Czech Republic, Slovakia, and also India and Brazil.

Livechat Software SA

Livechat Software SA is a Poland-based company engaged in the software industry. The Company is a producer and global provider of software as a service (SaaS) LiveChat, communication software for business. LiveChat enables fast and intuitive communication between company's employees and customers visiting corporate Website. The application also tracks customers' activity on a Website. The Company produces and distributes software for business-to-consumer (B2C) and business-to-business (B2B) communication. Its product portfolio includes three types of LiveChat plans: Solo, dedicated to single user and offering such features as unlimited chats, ticketing system, enhanced security and basic reporting; Team, for numerous teams that additionally includes chat routing and groups creation; and Enterprise, for companies that, additionally to previous ones, provides advanced reporting, work scheduler and unlimited visits on a Website.

LSI Software SA

LSI Software Sa. LSI Software SA is a Poland-based company specialized in the design and provision of software solutions for the retail and hospitality sectors. Its portfolio of products includes Bastion ERP, a corporate management system; POSitive Retail, aimed at retail stores management; and POSitive Hospitality, designed for the management of hotels, restaurants and SPAs, among others. The Company is also a supplier of customer-tailored software solutions. It deals with all levels of software implementation, from the design, through installation, to system configuration, training and post-sale services. The Company holds a partnership with Microsoft for system environment and database implementation and with Long Range Systems for development of software solutions. It also provides building management systems (BMS) under the GIP brand name. The Company operates a number of subsidiaries, such as Softech Sp z o o and Przedsiebiorstwo Projektowo Wdrozeniowe GiP Sp z o o.

PKO Bank Polski S.A.

PKO Bank Polski is a universal commercial bank offering services to both domestic and foreign retail, corporate and other clients. Co. is licensed to hold foreign exchange and currencies and sell/buy them, as well as perform a full range of foreign exchange services; open and hold bank accounts abroad and to deposit foreign exchange in these accounts. In addition, Co. conducts activities relating to leasing, factoring, electronic settlements via payment cards, as well as renders other financial services. As of Dec 31 2009, Co. had total assets of Zl156,478,685,000 and total deposit of Zl124,628,562,000. Co. operates in the Republic of Poland, Ukraine and Sweden.

Polski Koncern Naftowy ORLEN S.A.

Polski Koncern Naftowy Orlen's activities are divided into three main business segments: the Refining Segment that comprises crude oil processing as well as wholesale and retail trade in refinery products. The Petrochemical Segment that encompasses production and sale of petrochemicals and chemicals. The Retail Segment that comprises of sales at petrol stations. Co.'s basic products include gasolines, diesel oils, light heating oil, Jet fuel, liquid gas, polyetylene, polypropylene, benzene, butadiene, acetone, phenol, glycols, toluen, ortoxylene.

Polskie Gornictwo Naftowe i Gazownictwo SA

Polskie Gornictwo Naftowe I Gazownictwo SA Polish Oil & Gas Co (PGNiG) is an integrated natural gas company based in Poland. Co.'s core activity covers exploration and production of natural gas and crude oil as well as import, storage, trade and distribution of gas and liquid fuels. Co.'s scope of activity includes gas trading and commercial support, as well as operation, maintenance and expansion of its distribution system. Co.'s distribution networks comprises over 100 thousand kilometers of gas pipelines (high, upper-medium, medium and low pressure), which cover primarily industrialized and urbanized areas of the country.

Powszechny Zaklad Ubezpieczen Spolka Akcyjna

Powszechny Zaklad Ubezpieczen is an insurance group based in Poland. Co. is engaged in offering a broad range of insurance and financial products. Co. pursues three main lines of business: Property and Casualty Insurance, offered by PZU; Life Insurance, offered by PZU Zycie; and Open-end Pension Funds, offered by PTE PZU, the manager of OFE PZU Zlota Jesien. Co. maintains a network of sales and service outlets including 500 outlets throughout Poland, including 243 shared outlets (common for PZU and PZU Zycie), 137 outlets of PZU Zycie and 120 outlets of PZU. Co.'s business is focused on the Polish market but it also conducts insurance business in the Lithuanian and Ukrainian markets.

Ronson Europe

Ronson Europe is engaged in the development and sale of residential units, primarily apartments, in multi-family residential real-estate projects to individual customers in Poland.

Zaklady Azotowe Pulawy S.A.

Zaklady Azotowe Pulawy is engaged in production of chemicals, chemical products and polyamide fibers. Co.'s products in this division consist of: fertilizers and nitrogen compounds; other inorganic basic chemicals; other organic chemicals; industrial gases; and plastics. Co. is also engaged in the production, transmission and distribution of electricity; production of plastic products; production and distribution of heat (steam and hot water); and the collection and treatment of water, excluding service activities; services relating to water distribution.

Provider
BOS Brokerage
BOS Brokerage

BOS Brokerage, with over 20-year experience, offers brokerage services on the Polish capital market to satisfy numerous needs of institutional and retail investors.

Our comprehensive offer includes brokerage services on both the stock exchange and the forex market as well as brokerage services on the energy market, debt and equity issues, distribution of investment funds and assets management.

BOS Brokerage analytical team belongs to the most appreciated and acclaimed on the market. According to Parkiet daily’s poll (as of January 7, 2019), DM BOŚ equity research team was selected by institutional investors as the third best in Poland. Moreover, the team members won several individual best analysts awards, including Sobiesław Pająk – IT (best analyst), media/telco (ranked 2.), strategy (ranked 4.), Tomasz Rodak – video games (best analyst), overall ranked 5., Łukasz Prokopiuk – chemicals (ranked 2.), mining (ranked 3.), Maciej Wewiórski – real estate (ranked 3.).

In August 2017 Parkiet daily indicated DM BOŚ recommendations as the most accurate over 12 months and according to the Puls Biznesu daily (as of April 11, 2017) DM BOŚ research team was the most prolific on the Polish market and issued the biggest number of recommendations (247) in the years 2014-2016.

The analysts handle over 80 companies listed on the Warsaw Stock Exchange.

Analysts
Sobiesław Pająk

Other Reports on these Companies
Other Reports from BOS Brokerage

ResearchPool Subscriptions

Get the most out of your insights

Get in touch