Spread Research - AGROKOR (AGROK) AGROKOR - 4Q15 RESULTS

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Spread Research

AGROKOR - 4Q15 RESULTS

â€‹AGROKOR, headquartered in Croatia, is a leading food manufacturer (19% of revenues, 35% of EBITDA) and general retailer (75% of revenues, 61% of EBITDA) in Central and Eastern Europe. As a reminder, Agrokor has consolidated Slovenian retailer Mercator since 30 September 2014 as an unrestricted subsidiary for compliance purposes with bond covenants.

04/05/2016 2 EN

Underlying

AGROKOR

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Spread Research

Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.

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â€‹Croatian Agrokor is one of the largest food manufacturer (19% of revenues, 36% of EBITDA) and general retailer (75% of revenues, 60% of EBITDA) in Central and Eastern Europe. As a reminder, Agrokor has consolidated Slovenian retailer Mercator since 30 September 2014 but it is still not part of the restricted group due to compliance with bond covenants

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AGROKOR - 4Q15 RESULTS

Monthly LMI Update Independent Investment Research

Feasibility Study Results in December to be a Catalyst for this Junior

AGROKOR 2Q16: Hit by competitive pressure in Slovenia

Gamenet 2q18 - sport payout change offsets regulation impact, goldbet to boost profitability

INTRALOT- Special Comment

IQVIA- 2Q18 Comments

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