Report
Research Team

WOOD Daily: OPTIMA GA; CTPNV NA; PCF PW; CPS PW; WPL PW; BDX PW; 11B PW; HUG PW; TEN PW; DAT PW; GPP PW; DUNAHOUS HB

HEADLINES:
• Optima Bank: buying the dip (stays BUY)
• CTP: great story, fairly valued (downgraded to HOLD)
• PCF Group: key takeaways from the 3Q25 earnings call
• Cyfrowy Polsat/Wirtualna Polska: CPS audience share at 22.37%, while WP TV at 0.46% in November 2025 NEUTRAL
• Budimex: plans to pay out 100% of net income in dividends in 2025-29E NEUTRAL
• 11 bit studios: finalises agreement with Microsoft on licence for Game Pass POSITIVE
• Huuuge Games: October Sensor Tower bookings estimate flat mom NEUTRAL
• Ten Square Games: October Sensor Tower bookings estimates flat mom
• WOOD's Winter Wonderland EME Conference 2025: Postcards from Prague
• DataWalk
• Grupa Pracuj
• Duna House
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.

Budimex S.A.

Budimex S.A. is a holding company. Through its subsidiaries, Co. is engaged in building, assembly and erection works in the scope of general industrial and engineering construction, electrical power construction & assembly, environmental protection, road and highway construction, water and sewage system construction, the rendering of design services and technical and business consulting and real estate development. Co. maintains activities in strategic segments of the market, such as road and bridge construction, general construction works (office, hotel and institutes of higher education), and ecological/environment-related construction.

Cyfrowy Polsat SA

Datawalk SA

Datawalk SA Formerly known as Pilab SA. Datawalk SA, formerly known as Pilab SA, is a Poland-based a software publisher. The Company specializes in the area of data analysis, offering Business Intelligence solutions. It operates DataWalk, an agile analysis platform, which enables financial and insurance institutions to discover fraud attempts, combat money laundering, as well as analyze and monitor business processes, such as sales, claim adjustment and debt collection, among other applications. The Company operates through Datawalk Inc, its wholly-owned subsidiary based in the United States.

Duna House

GRUPA PRACUJ DA

OPTIMA BANK S.A.

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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