Report
Shana Gavron

LHV Institutional Weekly Review, April 24th, 2020

Please find attached this week's edition of the Baltic Review
* Q1 full results reviews for Coop Pank (CPA1T ET) and Tallinna Vesi (TVEAT ET)
* Q1 turnover comment for MADARA Cosmetics (MDARA LR)
* Key metrics for stocks covered.
Underlyings
AS Tallinna Vesi

Tallinna Vesi is a water utility in Estonia providing drinking water and wastewater disposal services to over 400,000 people in Tallinn and in several neighbouring municipalities. Co. has the exclusive right to provide water and sewerage services in Tallinn's main service area until the year 2020. Co.'s activities included the production, treatment and distribution of water; storm and wastewater disposal and treatment. Co.'s main operating activity principally comprises the sales of water and treatment of wastewater to domestic and commercial customers within and outside of the service area, and fees received from the City of Tallinn for operating and maintaining the storm water system.

Provider
LHV PANK
LHV PANK

LHV Bank is an independent pan-Baltic bank, based on Estonian capital. The company was founded in 1999 by two founders of Hansapank (today’s Swedbank in the Baltics) and has been offering a full range of investment services for 15 years. In May 2009, LHV received a credit institution licence allowing it to provide all banking services.

The head office is situated in Tallinn, Estonia. Cross-border services are offered in Vilnius, Lithuania and in Riga, Latvia. LHV provides brokerage (institutional and retail), asset management, banking and capital markets services. Compared to other banks, we are more innovative and have more solid experience in investment and entrepreneurship.

The Bank, together with the Group asset management company employs over 320 people. LHV Group shares are listed on Nasdaq Tallinn.

Analysts
Shana Gavron

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