Report
Research Team

WOOD Daily: ADNOCDIS UH; SHO PW; PEO PW; SFG RO

HEADLINES:
• ADNOC Distribution: 4Q23 results – net income better than expected POSITIVE
• Shoper: 2024E management guidance implies EBITDA range broadly in line with our forecast NEUTRAL
• Bank Pekao: Pekao Bank Hipoteczny on FX mortgage saga costs due in 4Q23E NEUTRAL
• Sphera Group: 9% yoy EBITDA expansion expected in 4Q23E (due on 29 February)
• Short News (PKN, WPS, FP)
Underlyings
ADNOC Distribution PJSC

BANK POLSKA KASA OPIEKI SA

Bank Polska Kasa Opieki (the Bank) is a commercial bank providing a range of banking services, mainly in Poland. The segments of the Bank are as follows: Retail banking, which comprises all banking activities related to retail customers and small and micro companies; Private banking, which comprises all banking activities related to the affluent individual customers; Corporate and Investment banking, which comprises all banking activities related to the companies, interbank market, debt securities and other instruments; and Assets and Liabilities Management and other, which is engaged in the supervision and monitoring of fund transfers, and other activities centrally managed.

SHOPER SA

Sphera Franchise Group SA

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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