WOOD Daily: EME Macro/Strategy – RU & Frontiers; 11B PW; CAR PW; KRKG SV; NRP NA; EL RO; COTE RO; TGN RO; PL Media
HEADLINES:• EME Macro/Strategy: how Russia's fallout is reshaping CIS-plus
• 11 bit studios: uninspiring 3Q22 EBITDA, slightly above our expectations, but below consensus NEUTRAL
• Inter Cars: 3Q22 EBITDA rises by a solid 26% yoy, 8% ahead of consensus POSITIVE
• Krka: margins rebound qoq on Russian stockpiling, books FX revaluation losses NEUTRAL
• NEPI Rockcastle: 3Q22 - tenants' sales 17% above pre-pandemic levels in the summer POSITIVE
• Electrica: takeaways from the 3Q22 earnings call POSITIVE
• Conpet: takeaways from the 3Q22 earnings call NEUTRAL
• Transgaz: takeaways from the 3Q22 earnings call NEUTRAL
• Polish media: ad market up 4% yoy in 3Q22, to PLN 2.4bn NEUTRAL
• Short News (CDR, TEN, FP)
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.
Inter Cars is an automotive spare parts distributor for passenger cars, commercial vehicles and trucks in Middle-Eastern Europe. The product range of Co. reaches over one million different automotive spare parts for passenger cars and trucks. No matter if the car is European or Asian one, Co.'s customers can find full range of products for their cars as well as all the necessary tools and garage equipment. Besides spare parts distribution, which is the core business of Co., Co. is also an exclusive distributor of legendary motorcycle brand “TRIUMPH” in Poland (via motorcycle distribution network, called Inter Motors) and distributor of spare parts and accessories for other motorcycle brands.
Krka is a public generic pharmaceutical company based in Slovenia. Co. is engaged in the development, production, sale and marketing of human health products (prescription and selfmedication pharmaceuticals and cosmetics), animal health products and health resort and tourist services. Co. focuses on a range of generic prescription pharmaceuticals, which are marketed under Co.'s own brands. Co. offers customers in over 70 countries a broad range of prescription pharmaceuticals, self-medication products and animal health and cosmetic products. Co.'s activities are supplemented by health resort and tourist services of Terme Krka.
NEPI Rockcastle is engaged in developing, acquiring and holding commercial properties, either directly or indirectly through the acquisition of listed equities.
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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