WOOD Daily: EAT PW; KRU PW; TXT PW; ENA PW; CTPNV NA; RICHT HB; DHS HB; WIZZ LN; PE RO; SNG RO; M RO; TLV RO; H2O RO; SFG RO; ELPE GA; HTO GA; ALPHA GA; EUROB GA; TPEIR GA; CIMSA TI

HEADLINES: • AmRest: 4Q25 miss, due mainly to allegations about food safety in Czechia NEGATIVE • Kruk: 4Q25 results – bit of a mixed bag • Text: 3Q25-26 (calendar 4Q25) results – EBITDA down 25% yoy, 3% above the consensus NEUTRAL • Enea: impairments and higher provisions to reduce 2025 net income by PLN 1.37bn and EBITDA by PLN 162m NEUTRAL • CTP: 4Q25 results and conference call • Richter: 4Q25 beat, on gross margin and tight opex control POSITIVE • Duna House: 4Q25 in line, guidance implies upside for our forecasts POSITIVE • Wizz Air: Indigo partners sell 10m shares in ABB • Premier Energ...

WOOD Flash – CTP: 4Q25 – both FFO and guidance trail our and the consensus estimates slightly

The 4Q25 results and the 2026E guidance imply around 3-4% consensus FFO downgrades for 2026E, and feature a material gap between the EPRA earnings (at EUR 336m) and the company-adjusted EPRA earnings (at EUR 405m). That said, CTP announced that it will start to capitalise the interest costs related to developments. As a result, the consensus FFO estimates are likely to be reviewed upwards instead.

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 02/26/2026

Credit recommendations - March 2026

Suivi des recommandations crédit - Mars 2026

Oddo’s 2 Weeks Ahead_Friday 27 February 2026