Report

Raiffeisen Centrobank Equity Daily 30.03.2020

ï‚§ AT: RCB - Raiffeisen Centrobank's first Social Distancing Investor Conference starts today
ï‚§ AT: BAWAG Group - AGM and dividend decision postponed to 4Q (neutral)
ï‚§ AT: Lenzing - Viscose prices hit new lows at CNY 9,200/t (negative)
ï‚§ AT: STRABAG, PORR - Construction activity in Austria to be gradually resumed (positive)
ï‚§ CZ: CEZ - CEZ to hold 51% stake in Czech lithium company Geomet through EUR 29 mn capital increase (neutral)
ï‚§ EU: Erste/BAWAG/Addiko - ECB urgently recommends banks to refrain from dividend distributions and share buy-backs (neutral/neutral/negative)
ï‚§ PL: Alior Bank - COVID -19 conference call takeaways (neutral)
ï‚§ PL: Lotos - YME start of production delayed by one year (negative)
 RO: Fondul Proprietatea, OMV Petrom, Romgaz, Electrica, Transgaz - Energy and utilities prices will be capped at current level during the state of emergency (neutral)Â
ï‚§ RO: MedLife - Started to build up testing capacity for Covid-19, only one nurse infected after incident in Grivita hospital (positive)
ï‚§ RU: Petropavlovsk - IRC's 2019 results released: yoy higher revenue and net-of-FX EBITDA, net loss partially on hedge and FX (neutral)
ï‚§ RU: Petropavlovsk - Shareholders are to vote from home for the TEMI option exercise on 16 April (neutral)
ï‚§ RU: Rosneft - Rosneft sells Venezuela assets to the State (positive)
Underlyings
Addiko Bank

Alior Bank SA

Alior Bank is a universal lending and deposit-taking bank which renders services to individuals, legal persons and other entities which are Polish and foreign persons. Co.'s core activities include maintaining bank accounts, granting loans and advances, issuing banking securities and purchasing and selling foreign currency. Co. also conducts brokerage activities, consulting and financial agency services and renders other financial services.

CEZ as

CEZ Group is a dynamic, integrated electricity conglomerate based in the Czech Republic and with operations in a number of countries of Central and Southeastern Europe and Turkey. Co. is an international group consisting of nearly 120 companies, Czech and foreign. Co.'s primary activities involve the production and transmission of electricity through nuclear, coal-fired and hydro power stations; production and distribution of heat and processing of secondary products generated during the production of electricity and heat as well as coal mining. Co. has operating companies in Poland, Bulgaria, Romania, the Netherlands, Ireland, Germany, Hungary, Albania, Turkey, Serbia, and Slovakia.

Erste Group Bank AG

Erste Group is a financial services provider based in Austria. As of Dec 31 2015, Co.'s total assets amounted to Euro199,743 million and the number of customers was approximately 16.5 million. Co.'s key business is the retail business, covering the entire spectrum from lending, deposit and investment products to current accounts and credit cards. In addition to providing financial services to private individuals, Co.'s core activities also include advisory services and support for corporate clients in financing, investment and access to international capital markets, public sector funding and interbank market operations.

Grupa LOTOS S.A.

Grupa Lotos is an oil concern which deals with oil extraction and processing and trading of high quality oil products. Co. supplies the market with, unleaded petrol, diesel oil, fuel oil, aviation fuel, industrial oil, asphalt and paraffin, among other things. Co. is engaged in the production and sales of engine oils and bitumen in Poland. Co. maintains oil exploration and production activities in the Baltic, North Sea and Norwegian Sea and operates three refineries in Gdansk, Jaslo and Czechowice, Poland. Co. markets its products in wholesale markets, as well as in retail markets through a network of petrol stations.

Lenzing AG

Lenzing is engaged in supplying the global textile and nonwovens industries with man-made cellulose fibers and is a supplier in many business-to-business markets. The portfolio ranges from dissolving pulp, standard and specialty cellulose fibers to high-quality plastic polymer products and engineering services. Co.'s operations are divided into three segments: Fibers, which produces and markets man-made cellulose fibers for the textile and nonwovens industry; Plastics, which produces weaving, labelling films, laminates and woven fabrics; Engineering, which implement projects, supply plant and equipment and provide services arond the world.

Med Life

Petrom S.A.

Petropavlovsk PLC

Petropavlovsk is engaged in the mining of precious and non-precious metals which require it to hold licences which permit it to explore and mine in particular areas in Russia. Co.'s reportable segments, which are aligned with its operating locations, are Pokrovskiy, Pioneer, Malomir and Albyn hard-rock gold mines which are engaged in gold and silver production as well as field exploration and mine development.

PORR AG

PORR is engaged in the building construction, structural and civil engineering, road construction and infrastructure construction. Co. also operates the construction branches of planning, development, execution and operation. Co. also coordinates the supraregional activities of the construction branch subsidiaries. Co. is engaged in the contruction of buildings and industrial plants; revitalizing protected architectural treasures; general contractor services, project planning and development; railway construction; foundation engineering; power-plant, tunnel, underground rail and traffic route construction; environmental engineering and prestressing technology.

Rosneft Oil Co.

OJSC OC Rosneft is a vertically-integrated Russian oil and gas company with upstream and downstream operations in each of Russia's oil-producing regions. Headquartered in Moscow, Co. operates ten oil and gas producing enterprises across Russia and is involved in over ten exploration projects. In addition to its upstream operations, Co. also owns two refineries, which have a combined capacity of 10 million tons per year, as well as four main oil export terminals and a nationwide network of over 600 service stations. Co.'s downstream operations consist of its crude oil export structure, refining operations and nationwide network of marketing subsidiaries.

Rosneft Oil Co. Sponsored GDR RegS

S.C. Fondul Proprietatea S.A.

Societatea Comerciala de Distributie si Furnizare a Energiei Electrice Electrica

Societatea Nationala De Gaze Naturale ROMGAZ SA

Societatea Nationala de Transport Gaze Naturale Transgaz S.A.

STRABAG SE

Strabag is a technology group for construction services. Co. provides its services in four operating segments: North + West, which executes construction services of nearly any kind and size with a focus on Germany, Poland, the Benelux countries and Scandinavia; South + East is focused on Austria, Switzerland, Hungary, the Czech Republic, Slovakia, Russia and neighbouring countries as well as on the region South-East Europe; International + Special Divisions, which include on the one hand, the field of tunneling and the concessions business; and Other, which contains the intra-company Central Divisions and Central Staff Divisions.

Provider
Raiffeisen Bank International AG - Institutional Equity
Raiffeisen Bank International AG - Institutional Equity

The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.

The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.

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