Report

Raiffeisen Research Institutional Equity Daily 13.01.2022

 AT: AGRANA - Final Q3 numbers in line with preliminaries, FY guidance confirmed (neutral)
 AT: Andritz - Andritz received spunlace line order from Ukraine (neutral)
 AT: EVN - EnergieAllianz retail affiliate to increase gross retail gas prices by 25% as of February (neutral)
 AT: IMMOFINANZ - CPI publishes offer documents, offer price maintained (negative)
 AT: OMV - Higher gas sales and stronger realized gas prices to support Q4 21 earnings (positive)
 HU: MOL - Entering Polish fuel retail market (positive)
 PT: Jeronimo Martins - Biedronka reported almost 10% lfl sales growth in Q4 21 (positive)
Underlyings
AGRANA Beteiligungs-AG

AGRANA Beteiligungs AG (AGRANA) is an Austria-based company that processes agricultural raw materials. The Company manufactures foods and intermediate products for the downstream food industry, as well as for non-food applications. It operates through three segments: Sugar, Starch and Fruit. The products of the Sugar segment are marketed both directly to consumers through food retailers and to the sugar industry. In the Starch segment, the Company processes and refines mainly corn (maize) and potatoes into starch products. The Fruit segment develops and produces fruit preparations (fruit ingredients) and fruit juice concentrates. The Company operates over 50 production sites globally. The Company's subsidiaries include AGRANA Zucker GmbH, AGRANA Starke GmbH, AGRANA Marketing-und Vertriebsservice Gesellschaft mbH, AGRANA Bioethanol GmbH and Main Process SA, among others. The Company also manufactures animal feed and fertilizers.

ANDRITZ AG

Andritzis develops production systems and industrial process solutions for standard and specialized products. Co. maintains five business areas. Pulp and Paper provides technology and services for production of various grades of pulp and fiber for the manufacture of paper, board and tissue. Metals develops and manufactures plants for the production of cold-rolled carbon steel, stainless steel, and non-ferrous metals strip. Environment and Process provides products and services for mechanical and thermal solid or liquid separation. Feed and Biofuel develops and produces equipment for production of feed. Hydro supplies turnkey electromechanical equipment and services for hydro power plants.

EVN AG

EVN is an energy and environmental services provider. Co.'s segments include: generation, which is engaged in electricity generation; energy trade and supply, which is engaged in the procurement of electricity; network infrastructure Austria, which is engaged in the operation of regional electricity and natural gas networks; energy supply South East Europe, which is engaged in operation of electricity networks and electricity, and energy trading; environmental services segment, which is engaged in among others, drinking water supply, as well as international project business; and strategic investments and other business segment, which is engaged in strategic and other investments.

IMMOFINANZ AG

Immofinanz AG is an Austria-based real estate company that invests in commercial properties. The Company's core activities are the management and development of retail and office properties in selected Central and Eastern European countries. The Company focuses its operations on such markets as Austria, Germany, the Czech Republic, Slovakia, Hungary, Slovenia, Romania and Poland. The Company manages a portfolio of approximately 240 properties, covering rentable space of approximately 1.8 million square meters. In the office sector, the Company concentrates on the capital cities of the core countries and the major office locations in Germany with its international myhive brand. The Company's activities in the retail sector are based on the brands STOP SHOP for retail parks and VIVO! for shopping centers which are designed for secondary and tertiary cities of Central and Eastern Europe.

Jeronimo Martins SGPS S.A.

Jeronimo Martins S.G.P.S. is a holding company. Through its subsidiaries, Co. is engaged as a food distribution company with operations in Poland and Portugal. Co. operates in four segments: Portugal Retail, which comprises the business unit of JMR - Gestao de Empresas de Retalho, SGPS, S.A. (Pingo Doce supermarkets); Portugal Cash & Carry, which includes the wholesale business unit Recheio; Poland Retail, which includes the business unit with the brand Biedronka; and Others, which includes marketing services and representations, restaurants in Portugal, health and beauty retail in Poland, and its retail business in Colombia.

MOL Hungarian Oil & Gas Plc Class A

Magyar Olaj-Es Gazipari is an integrated oil and gas enterprise based in Hungary and active in central and eastern Europe. Co.'s core activities include: exploration and production of crude oil, natural gas and gas products; refining, transportation, storage and distribution of crude oil products in both retail and wholesale markets; importation, transportation, storage and wholesale trading of natural gas and other gas products; and the production and sale of olefins and polyolefins. TVK, the petrochemical affiliate of Co., is an olefin and polyolefin producer in Hungary.

OMV AG

OMV is an international energy company with activities in Exploration and Production (E&P), Refining and Marketing including petrochemicals (R&M), and Gas and Power (G&P). Co. explores and develops oil and gas resources and supply energy to over 100 million people. OMV has three operating segments: Exploration and Production (E&P), Refining and Marketing, including petrochemicals (R&M), and Gas and Power (G&P), as well as the segment Corporate and Other (Co&O).

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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