Report
Research Team

WOOD Daily: SNP RO; OMV AV; GARAN TI; KRU PW; EU Macro; EREGL TI; EME Macro/Strategy – US; CCC PW; TGN RO; ADKO AV; KCEL KZ; BNET RO; DAT PW; GPP PW

HEADLINES:
• OMV Petrom: record-high clean CCS EBIT, above both our and consensus numbers POSITIVE
• OMV: 3Q22 results and special dividend proposal
• Garanti Bank: 3Q22 highlights - decent quarter, on its own
• Kruk: PLN 188m of net profit in 3Q22 - profit warning
• Europe macro: ECB's stance to stay hawkish for a long time, but attention is shifting to liquidity
• Erdemir: key takeaways from the 3Q22 earnings call NEUTRAL
• EME Macro/Strategy: US - positive 3Q GDP does not change the trajectory
• CCC: PLN 360m debt repayment agreed with banks and bondholders NEUTRAL
• Transgaz: calls EGMS to approve 1:16 stock split
• Addiko Bank: Credit Suisse acquires 5.92% stake in Addiko Bank NEUTRAL
• Kcell: 3Q22E preview - 16% yoy adjusted EBITDA growth expected (due in November, TBC)
• Bittnet Systems: 3Q22E preview - soft quarter, with 78% yoy EBITDA drop (due on 11 November)
• DataWalk: 3Q22E results preview - 32% sales growth expected (due on 22 November)
• Grupa Pracuj: 3Q22E results preview (due on 24 November)
• Short News (SNN)
Underlyings
Addiko Bank

Bittnet Systems

CCC SA

CCC is engaged in the wholesale and retail trade of clothing and footwear. Co. offers its products to wide range of consumers, from demanding clientele of trendy boutiques to value-oriented medium segment customers, to less wealthy customers seeking reasonably priced quality footwear. Co. pursues a strategy of brand diversification, which is reflected in its three autonomous distribution channels: a chain of official CCC stores, BOTI footwear shops and QUAZI boutiques. Co. offers more than 2,500 designs of footwear. Co. also owns more than 67 proprietary brand names e.g. Lasocki.

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.

Eregli Demir ye celik Fabrikalari T.A.S.

Eregli Demir Ve Celik Fabrikalari is engaged in the production of iron and steel rolled products, alloyed and non-alloyed iron, steel and pig iron castings, cast and pressed products, coke and their by-products.

GRUPA PRACUJ DA

KCELL JSC

Kruk S.A.

Kruk SA. Kruk SA is a Poland-based company, which is engaged in the business support industry. The Company is a multi-operator, which offers loss prevention and debt collection services. The Company divides its business into two main operating segments: Debt Purchase, including acquisition of non-performing debt portfolios, and Debt Collection Outsourcing, offering fee-based collection of debt on client's behalf, focused on consumer and corporate loans. The Company provides services to financial institutions and large corporate customers. It manages receivables of banks, credit intermediaries, leasing companies and digital platform providers, among others. The Company's operating activities concentrate in a number of countries, such as Poland, Romania, Czech Republic, Slovakia and Spain. The Company's subsidiaries include Kruk Deutschland GmbH, Presco Investments Sarl and Espand Soluciones de Gestion y Recuperacion de Deuda SL, among others.

OMV AG

OMV is an international energy company with activities in Exploration and Production (E&P), Refining and Marketing including petrochemicals (R&M), and Gas and Power (G&P). Co. explores and develops oil and gas resources and supply energy to over 100 million people. OMV has three operating segments: Exploration and Production (E&P), Refining and Marketing, including petrochemicals (R&M), and Gas and Power (G&P), as well as the segment Corporate and Other (Co&O).

Petrom S.A.

Societatea Nationala de Transport Gaze Naturale Transgaz S.A.

Turkiye Garanti Bankasi Anonim Sirketi

Turkiye Garanti Bankasi is a private banking group based in Turkey. Co. operates as an integrated financial services group in every segment of the sector including corporate, commercial, SME, payment systems, retail, private and investment banking together with subsidiaries in pension and life insurance, leasing, factoring, brokerage, and asset management. Co. provides a range of financial services to 13 million customers through a distribution network of 994 domestic branches; 6 foreign branches in Cyprus, Luxembourg and Malta; 3 international representative offices in London, Dusseldorf and Shanghai with more than 4,152 ATMs, a Call Center and internet.

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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