WOOD Daily: AEGN GA; EAT PW; BGEO LN; H2O RO; WINE RO; COTE RO; TGN RO; SNG RO; TPE PW; 11B PW; CZ Macro; HU Macro; PL Macro; RO Macro
HEADLINES:• Aegean Airlines: 3Q23 on track for best year ever, 3Q beat on better cost control POSITIVE
• AmRest: 3% EBITDA beat in 3Q23 on improving margins POSITIVE
• Bank of Georgia: 3Q23 highlights, before the call - good quarter
• Hidroelectrica: 3Q23 net profit of RON 1.2bn, 30% higher yoy and 6% above our estimate POSITIVE
• Purcari Wineries: 3Q23 net profit 27% higher than our estimate, on higher other income
• Conpet: 3Q23 net profit rebounds qoq and stands 9% higher yoy POSITIVE
• Transgaz: lower net loss than expected in 3Q23 NEUTRAL
• Romgaz: 3Q23 net profit at RON 483m, a small miss versus our estimate
• Tauron: 3Q23 prelims beat on EBIT and net lines POSITIVE
• 11 bit studios: gross revenues of The Invincible digital sales at a mere PLN 3.2m in the first week NEGATIVE
• Czech Republic macro: GDP disappoints in 3Q
• Hungary macro: economy on track for a contraction this year
• Poland macro: positive GDP print to support NBP's pause
• Romania macro: GDP disappoints in 3Q
11 BIT STUDIOS SA is a Poland-based company engaged in the game development industry. Its product portfolio includes four games: Anomaly Korea, Sleepwalker's Journey, Funky Smugglers and Anomaly Warzone Earth. The Company produces video games for different devices, such as video consoles, personal computers (PC), and Apple products (iPhone, iPad), among others.
Aegean Airlines is an airline carrier based in Greece. Co. is engaged in aviation transportation, providing services that concern the transportation of passengers and commodities in the sector of public aviation transportation inside and outside Greece, conducting scheduled and unscheduled flights. Co. provides full service, premium quality short and medium haul services. Co. maintains a network of 145 destinations, 111 international in 45 countries and 34 domestic destinations. Co. is a member of global airline network, the Star Alliance network.
Amrest Holdings SE is a Spain-based company active in the restaurants and bars sector. The Company's core activity is operating Kentucky Fried Chicken (KFC), Pizza Hut, Burger King and Starbucks restaurants through its subsidiaries in Poland, the Czech Republic, Hungary, the Russian Federation, Serbia, Croatia, Bulgaria, Spain and France, on the basis of franchises granted, and Applebee's in the United States. Additionally, in Spain and France the Company operates its own brands La Tagiatella, Trastevere and il Pastificcio. It also operates PizzaPortal.pl, an online portal for ordering food from various restaurants. The Company operates through subsidiaries, such as AmRest Sp z o o, AmRest sro, AmRest doo, AmRest Adria doo, Blue Horizon Hospitality Group PTE, AmRest TAG SL, SC Marinopoulos Coffee Company III Srl and Marinopoulos Coffee Company Bulgaria EOOD, among others.
Tauron Polska Energia is engaged in the generation, transmission, distribution, and sale of electricity and heat in Poland. Co. generates electricity from various conventional and renewable energy sources, including hard coal, lignite, natural gas, biomass, wind, solar, and hydro power. It is also involved in quarrying, crushing, and breaking of limestone; quarrying of stone for the construction industry; mining of hard coal; trading in electricity; and production of technical gases. In addition, Co. engages in the repair and maintenance of machinery and electrical equipment; electrical installations; and construction of power lines.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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