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DM BOŚ: Daily research report – date 13.10.2020

Conferences calendar … 2

Large-cap companies news … 3
PGNiG: Mutual exploration/extraction project with ERU in the
Ukraine
PGNiG: Interest in privatisation of Ukrainian energy assets?
mBank: Shift to mid-caps index
PGE: New protests against Turów mine in Germany
Banks: Supreme Court to rule on FX denominated loan

Small- and mid-cap companies news … 5
Rafako: 2Q20 results review
Medicalgorithmics: Claims in September; up 13% yoy/ 3% mom
Idea Bank: New recovery plan to be submitted this week
GTC: 3Q20 results publication date delayed

Poland: capital market calendar … 6

DM BOŚ Coverage Universe … 11

Underlyings
Fabryka Kotlow RAFAKO S.A.

Rafako SA (Fabryka Kotlow Rafako SA) is a Poland-based company engaged in the design, development and manufacture of industrial and power-generation boilers. It produces and sells a range of boilers fired with coal, oil, gas or a combination of these fuels, as well as other boilers, including fluidized bed boilers and biomass-fired boilers. The Company also provides diagnostics, repairs and overhauls of boilers and boiler auxiliaries. In addition, it is involved in the production of turnkey flue-gas desulphurization, environmental protection, municipal and industrial waste incineration plants, the provision of boiler pressure parts, and the production of boiler components. It is active domestically and abroad, including such countries as: Finland, Germany, France, the Czech Republic, Austria and Denmark, among others.

Globe Trade Centre S.A.

Globe Trade Centre is the parent company of the capital group, Globe Trade Centre (the Group). The Group is engaged in the development and rental of office and retail space and the development and sale of residential units. The Group is a real estate company in Central and Eastern Europe and South-eastern Europe, operating in Poland, Romania, Hungary, Croatia, Serbia, Bulgaria, and Slovakia. Additionally, it co-owns land in Ukraine and Russia and operates in the Czech Republic. The Group's portfolio comprises: completed office buildings and office parks as well as retail and entertainment centres; residential projects; and undeveloped plots of land and suspended projects.

MBANK SA

mBank is a provider of comprehensive corporate banking services in Poland. Co. and its subsidiaries make up the mBank Group which is engaged in offering financial services. Co.'s service offering includes a comprehensive financial offer tailored to the needs of corporate clients, Private Banking clients, and retail clients. The business activities of Co. is conducted in the following business segments: Retail Banking and Corporates and Markets.

PGE Polska Grupa Energetyczna S.A.

PGE Polska Grupa Energetyczna is an electricity company based in Poland. Co. is engaged in the generation and selling of electricity. Co. is a predominant power producer and supplier in Poland and a major heat and power sector company in Central and Eastern Europe. Co. supplies over 5 million households, businesses and institutions through a combination of its own fuel resources (lignite), power generation and final distribution networks. Co.'s activities focus on the following areas: Conventional Power Generation, Renewable Power Generation, Nuclear Power Generation, Wholesale, Distribution and Retail. Co. has 12.2 GW of installed generation capacity.

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.

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.

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