WOOD Daily: VGO PW; PGE PW; 11B PW; DNP PW; KRKG SV; GEV CP; ELPE GA; PBK RO; BGEO LN; CEZ CP; SFG RO; RO Macro; PL Macro

HEADLINES: • VIGO Photonics: top Polish defence industry exposure (downgraded to HOLD) • PGE: strong 1Q25 recurring EBITDA, 26% above our expectations POSITIVE • 11 bit studios: weak 1Q25, misses our forecast, on higher opex NEGATIVE • Dino: 2-7% EBITDA beats in 1Q25 NEUTRAL • Krka: 1Q25 – record net profit, on high FX revaluation gains POSITIVE • GEVORKYAN: strong 1Q25 - EBITDA 15% above our expectations, but 2025E guidance implies an EBITDA margin contraction POSITIVE • HELLENiQ Energy: 1Q25 results – EBITDA below expectations NEGATIVE • Patria Bank: strong bottom-line delivery in 1Q25 POSIT...

WOOD Daily: BIMAS TI; MOL HB; OTP HB; EAT PW; NLBR SV; ETE GA; EUROB GA; ALPHA GA; TITC GA; PGSUS TI; ELM AB; TBCG LN; BDX PW; 11B PW; HTO GA; DIGI RO; ACP PW

HEADLINES: • BIM: weak results in 1Q25 NEGATIVE • MOL: 1Q25 results – strong EBITDA, big net income beat POSITIVE • OTP Bank: neutral 1Q25 results, but supported strongly by Russian operations NEUTRAL • AmRest: 1Q25 below expectations, due to EUR 5m negative one-off NEUTRAL • NLB Group: small bottom-line miss in 1Q25, but guidance maintained NEUTRAL • National Bank of Greece: 1Q25 highlights POSITIVE • Eurobank Ergasias Services: 1Q25 highlights NEUTRAL • Alpha Services and Holdings: 1Q25 highlights, before the call • Titan Cement: 1Q25 results and conference call takeaways • Pegasus Airlines:...

Forsee Power : 2025 guidance revised

Intertek : Good momentum despite some FX adjustments, with no fundamental impact

Forsee Power : Révision des objectifs 2025