Report
Research Team

WOOD Daily: TEL RO; ADNOCDRI UH; DIGI RO; ETEL EY; ONE RO; BOCH CY; SNN RO; MBR PW; EME Macro/Strategy Weekly; PZU PW

HEADLINES:
• Transelectrica: 3Q23 results in line with our expectations, but weak yoy performance might surprise NEGATIVE
• ADNOC Drilling: 3Q23 results - better margins than expected
• DIGI Communications: 3Q23 results - adjusted EBITDA up 18% yoy, in line with our estimate NEUTRAL
• Telecom Egypt: 3Q23 results review - EBITDA up 7% yoy, in line with the consensus NEUTRAL
• ONE United Properties: 3Q23 - gross profit margin at 27%, rental income of EUR 5m for the quarter
• Bank of Cyprus: 3Q23 results highlights POSITIVE
• Nuclearelectrica: takeaways from the 3Q23 earnings call NEUTRAL
• Nuclearelectrica: GMS agenda amended to approve transition to FEED Phase 2 for Small Modular Reactor NEUTRAL
• Mo-BRUK: places lowest bid for "ecological bomb" contract in Czestochowa POSITIVE
• EME Macro/Strategy: macro all-in-one (6-12 November)
• PZU: 3Q23E preview (due on 23 November)
• Short News (CDR)
Underlyings
ADNOC DRILLING CO

Bank of Cyprus PCL

C.N.T.E.E. Transelectrica

Digi Communications NV

Mo-BRUK S.A.

Mo-Bruk SA is a Poland-based company involved in the production of concrete. It is also active in the area of hazardous and other than hazardous industrial waste management. Additionally, the Company operates a waste recovery plant, waste recycling plant, alternative fuel production plant and an industrial waste landfill. The Company produces alternative fuels from municipal and industrial wastes. The Company is also the owner of two open non-stop petrol stations for liquefied fuel, as well as a technical inspection station. Mo-Bruk SA is also engaged in the construction of concrete surfaces. As of December 31, 2011, the Company operated one wholly owned subsidiary, Raf-Ekologia Sp. z o.o.

ONE UNITED PROPERTIES SA

Powszechny Zaklad Ubezpieczen Spolka Akcyjna

Powszechny Zaklad Ubezpieczen is an insurance group based in Poland. Co. is engaged in offering a broad range of insurance and financial products. Co. pursues three main lines of business: Property and Casualty Insurance, offered by PZU; Life Insurance, offered by PZU Zycie; and Open-end Pension Funds, offered by PTE PZU, the manager of OFE PZU Zlota Jesien. Co. maintains a network of sales and service outlets including 500 outlets throughout Poland, including 243 shared outlets (common for PZU and PZU Zycie), 137 outlets of PZU Zycie and 120 outlets of PZU. Co.'s business is focused on the Polish market but it also conducts insurance business in the Lithuanian and Ukrainian markets.

Societatea Nationala Nuclearelectrica SA

Telecom Egypt

Telecom Egypt is a telecommunications provider in Egypt and is engaged in the provision of fixed-line services in the Middle East. Co. offers a fixed line and retail telecommunications services and provides wholesale telecommunications services. Co. provides retail telecommunication services including access, local, long distance and international voice, internet and data, and other services. Co. also provides wholesale services including broadband capacity leasing to ISPs, and national and international interconnection services. Co.'s internet and data services include the provision of internet broadband access data transmission services and leased lines.

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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