Report
Andrey Kuznetsov ...
  • Andrey Gromadin
  • Cole Akeson
  • Fedor Kornachev
  • Georgiy Ivanin
  • Lyudmila Melnikova
  • Mikhail Krasnoperov
  • Research Team

CIS Market Daily - October 29, 2021

MARKET COMMENT - GLOBAL, RUSSIA INDICATORS SIGNAL CONSOLIDATION AMID FEW DEFINITIVE CATALYSTSDMs managed gains, with US indexes setting new records, while US GDP data came in weak and EMs and commodity stocks declined. The RTS fell 0.6% to 1,880. Global indicators lean more negative than not this morning, but markets lack definitive catalysts. Moscow Exchange's results and monthly socioeconomic data are due. STORIES> Highlights from Novatek's 3Q21 conference call> VEON 3Q21 IFRS results: Strong, EBITDA guidance upgraded> VK's 3Q21 EBITDA tops consensus; revenue guidance downgrade> Magnit's 3Q21 EBITDA, net income above consensus, strong current trading> O'Key trading update: Top-line growth accelerates to 10.1% y-o-y in 3Q21> Enel Russia posts neutral 3Q21 results, reiterates 2021 guidance and dividend plans
Underlyings
Enel Russia

PJSC Enel Russia is a wholesale generation company in Russia. Co.'s main areas of operation are production of power and heat, supply (sale) of power and heat, receipt (purchase) of power and heat from the wholesale power (capacity) market. Co. is active in four production branches around Russia: in the Ural region - Reftinskaya GRES, Sredneuralskaya GRES, in the northern Caucasus - Nevinnomysskaya GRES, and in Central Russia - Konakovskaya GRES. Co.'s aggregate installed capacity is 9,677 MW for power and 2,382 GCal/h for heat. Co. provides power and heat to both industrial enterprises and household consumers via local power distribution networks.

Magnit PJSC

Magnit is a holding company. Through its subsidiaries, Co. operates in the retail and distribution of consumer goods under the Magnit name. Co.'s retail operations are operated through convenience stores, cosmetic stores, hypermarkets and other. Most of its stores are located in the Southern, Central and Volga regions. Co. also operates stores in the North-Western, North-Caucasian, Urals and Siberian regions. As of Dec. 31 2014, Co.'s stores chain consisted of 9,711 stores: 8,344 convenience stores, 190 hypermarkets, 97 Magnit Family stores and 1,080 drogerie stores in 2,108 cities and towns throughout the Russian Federation.

Magnit PJSC Sponsored GDR RegS

Mail.ru Group Ltd. Sponsored GDR

Mail.Ru Group is an Internet company based in the Russian Federation. Co. operates the email service [email protected] and two IM networks in Russia - Mail.Ru Agent and ICQ. Co. operates two Russian-language online social networking sites: Moi [email protected] and Odnoklassniki.ru, and owns a strategic minority equity stake in the social network Vkontakte. Co. is also engaged in developing projects in E-commerce and operating more than 40 thematic vertical sites, targeting various user categories. Co. is also Russia's predominant online games company. Co. maintains a portfolio of online games which includes 34 MMO games and over 30 games for social networking sites.

NOVATEK JSC

Novatek is an independent gas producer and natural gas producer in Russia. Co. is engaged in the exploration, production, and processing of natural gas and liquid hydrocarbons. Co.'s upstream activities are concentrated in the Yamal-Nenets region, which is a natural gas producing area and accounts for a significant part of Russia's natural gas production. Co.'s three core fields are located in the regions of Yurkharovskoye, East Tarkosalinskoye and Khancheyskoye. Co. maintains natural gas reserves of approximately 1,144 bcm. Co.'s total net proved reserves totals around 8,088 million barrels of oil equivalent (boe).

NOVATEK JSC Sponsored GDR RegS

O Key Group

O'key Group is a Russian retailer. Co.'s principal business activity is operation of retail chain in Russia under brand name O'KEY. Co. provides customers with fresh produce (fresh foods and delicatessen products) and non-food goods (cosmetics, clothing, shoes, household cleaning products, domestic appliances, toys, sports and fitness products, etc.). Co.'s stores follow two formats: hypermarkets and supermarkets. Co. manages approximately 71 stores (42 hypermarkets and 29 supermarkets) across North Western, Southern, Central, Urals and Siberian regions.

VimpelCom Ltd. ADS

Provider
Sberbank
Sberbank

​Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

Analysts
Andrey Kuznetsov

Andrey Gromadin

Cole Akeson

Fedor Kornachev

Georgiy Ivanin

Lyudmila Melnikova

Mikhail Krasnoperov

Research Team

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