Report
Adrian Skłodowski

Eurocash - 1Q19 operating results worse y/y; EBITDA -16% y/y; negative OpCF; ND/EBITDA 1.8x (neutral)

Research prepared by PKO BP Securities
Underlying
Eurocash S.A.

Eurocash, through its subsidiaries, is engaged in the distribution of food products, household chemicals, alcohol, and tobacco products (fast moving consumer goods). Through a range of distribution formats, Co. and its subsidiaries focus its business activities on the wholesale distribution to customers across the wholesale market segments, in particular, to stores throughout Poland such as retail stores, convenience stores at petrol stations, restaurants, hotels and cafeterias. Co. and its subsidiaries operate a range of distribution formats focused on supplying independent stores in Poland, which primarily include: Cash and Carry, Franchise Systems, and Distribution.

Provider
PKO Bank Polski
PKO Bank Polski

Analysts
Adrian Skłodowski

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