Raiffeisen Centrobank Equity Daily 17.08.2020
 HR: Valamar Riviera - Austria to advise its citizens not to travel to Croatia (negative) RO: Banca Transilvania - Lost the case against fiscal authority for income tax on bargaining gain from the acquisition of Volksbank Romania (negative)
 RO: Conpet - 2Q 20 net profit was down by 8% yoy on declining imported crude segment (neutral)
 RO: Digi Communications - Growth in RGUs from 2Q 20 was mostly organic (neutral)
 RO: MedLife - Management sees encouraging recovery in 3Q 20 (positive)
 RU: Petropavlovsk - Appointment of a temporary CEO and corporate governance update (neutral)
 RU: Rosneft - 2020e capex guidance remained unchanged at RUB 750 bn, 2021e investments estimated at RUB 1 trln (neutral)
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.
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.
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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