Report
Research Team

WOOD Daily: ALE PW; INPST NA; 11B PW; PCF PW; SNP RO; PL/CZ/RS Utilities; PKO PW; HUG PW; TEN PW

HEADLINES:
• Allegro: better than you might think (stays BUY)
• InPost: reasonably priced alternative (stays BUY)
• 11 bit studios: strong 2Q22 results, fully in line with preliminary guidance NEUTRAL
• PCF Group: understanding of termination of Take-Two agreement, supportive settlement terms POSITIVE
• PCF Group: no major newsflow during management call post results NEUTRAL
• OMV Petrom: invests in 450 MW PV parks with CE Oltenia POSITIVE
• Polish/Czech/Serbian utilities: EU ministers approve new emergency measures NEUTRAL
• PKO BP: signs swap agreement with PKN Orlen, offsetting financial impact risk from shares holding NEUTRAL
• Huuuge Games: September bookings estimate disappoints, with 12% mom decline NEGATIVE
• Ten Square Games: flat mom September bookings estimate NEUTRAL
• Short News (PEO, PZU)
Underlyings
11 Bit Studios S.A.

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.

Allegro.eu SA

InPost S.A.

PCF Group SA

Petrom S.A.

PKO Bank Polski S.A.

PKO Bank Polski is a universal commercial bank offering services to both domestic and foreign retail, corporate and other clients. Co. is licensed to hold foreign exchange and currencies and sell/buy them, as well as perform a full range of foreign exchange services; open and hold bank accounts abroad and to deposit foreign exchange in these accounts. In addition, Co. conducts activities relating to leasing, factoring, electronic settlements via payment cards, as well as renders other financial services. As of Dec 31 2009, Co. had total assets of Zl156,478,685,000 and total deposit of Zl124,628,562,000. Co. operates in the Republic of Poland, Ukraine and Sweden.

Ten Square Games

Ten Square Games SA is a Poland-based mobile games development company. The Company is focused on 3D simulation hobby games for people who seek outdoor experiences on their mobile devices, like fishing or hunting games. Its games are available on social platforms, a network of partner sites, as well as on Google Play, App Store and Microsoft Store.

Provider
Wood and Company
Wood and Company

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.

Analysts
Research Team

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