Report
Research Team

WOOD Daily: ALR PW; MONET CP; TUPRS TI; FROTO TI; TOASO TI; SHO PW; SNG RO; EL RO; MYTIL GA; PPA GA; TRP RO; SPL PW; PPC GA; EL RO; ALARABIA AB; VER AV; SOLUTION AB; SNP RO; TEN PW; HUG PW; 11B PW; PCF PW

HEADLINES:
• Alior Bank: strong beat on headline profit as LLPs keep giving low readings POSITIVE
• MONETA Money Bank: strong 3Q23 results, but medium-term outlook broadly unchanged NEUTRAL
• Tupras: 3Q23 results - EBITDA better than expected
• Ford Otosan: strong beat in 3Q23 financials POSITIVE
• Tofas: better-than-expected results in 3Q23 POSITIVE
• Shoper: 3Q23 adjusted EBITDA up 32% yoy, as expected NEUTRAL
• Romgaz: 3Q23 trading update
• Electrica: 3Q23 operational indicators NEUTRAL
• Mytilineos: 3Q23 trading statement a solid beat
• Piraeus Port Authority: 3Q23 financial results POSITIVE
• TeraPlast: takeaways from the 3Q23 earnings call NEUTRAL
• Santander Bank Polska: receives approval for interim dividend to be paid, potentially, in 2023E POSITIVE
• Public Power Corporation: finalises Enel Romania acquisition NEUTRAL
• Electrica: signs financing contract via Resilience and Recovery Plan for 27 MW PV project POSITIVE
• Al Arabia Outdoor Advertising: wins Riyadh project POSITIVE
• Verbund: APG contemplating EUR 9bn investment plan over 2023-34E NEUTRAL
• Solutions by STC: 3Q23E preview (date TBC)
• OMV Petrom: 3Q23E earnings preview (due on 31 October)
• Ten Square Games: 3Q23E adjusted EBITDA up by 50% qoq (due on 20 November)
• Huuuge Games: 3Q23E - another solid quarter expected (due on 22 November)
• 11 bit studios: 3Q23E - deeper qoq operating loss (due on 23 November)
• PCF Group: 3Q23E - qoq improvement driven by Maverick project (due on 27 November)
• Short News (VER, SNP, PPC, FP)
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.

ARABIAN CONTRACTING SERVICES CO

ARABIAN INTERNET & COMMUNICATIONS SERVICES CO

Ford Otomotiv Sanayi A.S.

Ford Otomotiv Sanayi is an automobile manufacturing company based in Turkey. Co. operates as a joint venture between Ford Motor Company and the Koc Group of Companies. Co. is engaged in manufacturing, assembling and selling motor vehicles, primarily commercial vehicles, imports and sells passenger cars and manufactures and imports and sells spare parts of those vehicles. Co. has two plants located in Kocaeli and Eskisehir, has a spare part distribution warehouse in Kartal, Istanbul and a branch in Tubitak Marmara Research Centre, Gebze Campus Technological Free Zone (TEKSEB).

MONETA Money Bank AS

Moneta Money Bank as is a Czech Republic-based retail and expanding small and medium enterprises (SME) bank. The Company holds an universal banking licence and provides a range of retail and SME-focused financial products and services. The Company operates through a national distribution network of 229 branches and through alternative distribution channels, such as the internet, its call centre, auto dealers, brokers and approximately 4,700 leasing partners. The Company together with its controlled subsidiaries offers current accounts, savings accounts, term deposits and transactional banking products including payment services and debit cards, consumer loans, credit cards, overdrafts, mortgages and auto loans, auto leases and other complementary products such as bancassurance and sales of investment funds.

MYTILINEOS S.A.

Mytilineos Holdings is an industrial group engaged in the sectors of Metallurgy, EPC, Energy, and Defence. Co. and its subsidiaries are engaged in three main operating business segments: Metallurgy, Constructions and Energy. Co. and its subsidiaries monitor its performance on Metallurgy and Mining Sector through the subsidiaries Aluminium S.A. (Alumina-Aluminium) and Sometra S.A. (Zinc-Lead). Co., through its subsidiary, METKA S.A., is an EPC Constructor in Greece.

PCF Group SA

Petrom S.A.

Piraeus Port Authority S.A.

Piraeus Port Authority SA is a Greece-based company engaged in the management and operation of Piraeus port. The main activities of Piraeus Port Authority SA are ships' anchoring services, handling cargo, loading and unloading services as well as goods storage and car transportation. The Company is also responsible for the maintenance of port facilities, the supply of port services (water, electric current and telephone connection, among others), for services provided to travelers and for renting space to third parties. Piraeus Port Authority SA has two wholly owned subsidiaries, Nafsolp SA and Logistics OLP SA. Nafsolp SA is mainly engaged in ship repairing services and Logistics OLP SA is mainly engaged in the development of combined transportations as well as port facilities and services.

Public Power Corporation S.A.

Public Power Corp. is a vertically intergrated electric utility engaged in electricity generation, transmission and distribution throughout Greece. At Dec 31 2014, Co. and its subsidiaries generated electricity in its own 62 power generating stations of Co. and from the additional stations which belong to its wholly owned subsidiary PPC Renewables S.A, facilitated the transmission of electricity through its own power lines of approximately 12,273 km and distributed electricity to consumers through its own distribution lines for Medium and Low voltage of 235,100 km which are managed by its wholly owned subsidiary Hellenic Distribution Network Operator (HEDNO S.A.) (Medium and Low voltage).

Santander Bank Polska SA

Bank Zachodni is a bank seated in Poland. Co. and its subsidiaries provide a range of banking services for individual and business customers and operate in domestic and interbank foreign markets. Additionally, Co. provides also the following services, including intermediation in trading securities, leasing, factoring, asset/ fund management, insurance services, trading in stock and shares of commercial companies, and brokerage activity. Operational activity of Co. and its subsidiaries has been divided into five segments: Retail Banking, Business and Corporate Banking, Global Banking and Markets, ALM (Assets and Liabilities Management) and Centre, as well as Santander Consumer.

SHOPER SA

Societatea Energetica Electrica

Societatea Nationala De Gaze Naturale ROMGAZ SA

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.

Teraplast

Tofas Turk Otomobil Fabrikasi A.S.

Turkiye Petrol Rafinerileri A.S.

Turkiye Petrol Rafinerileri is an energy and refining company based in Turkey. Co. is engaged in providing and refining crude oil, the importing and exporting of oil products, and establishing and operating refineries in Turkey and foreign countries. Also, Co. is establishing and operating factories and facilities in the petrochemical industry. Co. is engaged in purchasing, selling, importing, exporting, storing, marketing and distributing (wholesale, retail, foreign and domestic) all kinds of petroleum products, LPG and natural gas. Co. runs its business through the refineries in Izmit, Izmir, Kirikkale and Batman.

VERBUND AG Class A

Verbund is a public utility company engaged in the generation and transmission of electricity from subsidiaries' hydro and thermal power stations located throughout Austria. Through its subsidiaries, Co. is involved in the planning and construction of water systems, hydroelectric power plants, river structures, sewage disposal systems, and high voltage transmission towers and lines. Co. generates, trades and sells electrical energy to power exchange buyers, traders, energy supply companies and industrial companies as well as households and commercial customers.

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
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