PKO Bank Polski - Novaturas (NTU) Novaturas - Apr-19 sales increased by 16% y/y, weaker 2019 outlook (neutral)

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PKO Bank Polski

Adrian Skłodowski

Novaturas - Apr-19 sales increased by 16% y/y, weaker 2019 outlook (neutral)

Research prepared by PKO BP Securities

15/05/2019 3 EN

Underlying

Novaturas

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Provider

PKO Bank Polski

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Analysts

Adrian Skłodowski

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Novaturas - Apr-19 sales increased by 16% y/y, weaker 2019 outlook (neutral)

Novaturas - Weak 1Q19 results, in line with expectations; ND/EBITDA 1.2x; challenging 2019 outlook (negative)

Novaturas - Mar-19 sales decreased by 2% y/y (slightly negative). Coverage discontinued

Famur - Bullish outlook + hard rock entry (positive)

Stalexport - Benefit on VAT exemption? (positive)

- Dziennik

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