Report
Research Team

WOOD Daily: NOVAL GA; PCO PW; HTO GA; ALARABIA AB; GPP PW; JMT PL

HEADLINES:
• Noval Property: a Greek real estate growth story (HOLD - initiation of coverage)
• Pepco Group: weak lfl trends continued in 3Q; FY24E EBITDA guidance of EUR 900m maintained NEGATIVE
• OTE: Greek government to launch EUR 80m voucher scheme, to boost fibre uptake, in September POSITIVE
• Al Arabia Outdoor Advertising: announces establishing of Alarabia Alliances For Smart Advertisement, in partnership with the Saudi Company for Artificial Intelligence NEUTRAL
• Grupa Pracuj: new job ads on Pracuj.pl reach 396,000 in 1H24, down 13% yoy NEUTRAL
• Jeronimo Martins: 2Q24E results preview – 2% yoy EBITDA erosion expected (due on 24 July, after the close)
Underlyings
ARABIAN CONTRACTING SERVICES CO

GRUPA PRACUJ DA

Hellenic Telecommunications Organization SA

Hellenic Telecommunications Organization is a full-service telecommunications group. Co. provides local, long-distance and international fixed-line telecommunications services in Greece and Romania, and mobile telephony services through its Cosmote subsidiary in Greece, as well as in Albania, Bulgaria, the Former Yugoslav Republic of Macedonia and Romania. Co. also provides internet access services and Internet Protocol (IP) -based telecommunications applications, as well as information technology application development and hosting services using IP technologies. Also, Co. provides several other telecommunications services, including value-added services and public telephone services.

Jeronimo Martins SGPS S.A.

Jeronimo Martins S.G.P.S. is a holding company. Through its subsidiaries, Co. is engaged as a food distribution company with operations in Poland and Portugal. Co. operates in four segments: Portugal Retail, which comprises the business unit of JMR - Gestao de Empresas de Retalho, SGPS, S.A. (Pingo Doce supermarkets); Portugal Cash & Carry, which includes the wholesale business unit Recheio; Poland Retail, which includes the business unit with the brand Biedronka; and Others, which includes marketing services and representations, restaurants in Portugal, health and beauty retail in Poland, and its retail business in Colombia.

PEPCO GROUP NV

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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