WOOD Daily: TLV RO; ADNOCDRI UH; OTKAR TI; TBCG LN; ELM AB; ISCTR TI; PL Banks; PL Utilities; AQ RO; EME Macro/Strategy Weekly; SNP RO; MBR PW; ALE PW
HEADLINES:• Banca Transilvania: NIM resilience and strong loan book expansion the key positives of 1Q24 bottom-line beat, on non-recurring revenue, low provisions and a one-off POSITIVE
• ADNOC Drilling: 1Q24 results – new venture and updated dividend policy POSITIVE
• Otokar: lacklustre 1Q24 results, but strong backlog NEGATIVE
• TBC Bank: 1Q24 results and conference call NEUTRAL
• Elm: mixed 1Q24 financial results NEGATIVE
• Isbank: 1Q24 highlights – margin pressure worsening
• Polish banks: summary of credit holidays extension costs expected by the banks NEUTRAL
• Polish utilities: State sets up team for coal carve out POSITIVE
• Aquila Part Prod Com S.A.: 1Q24 affected by timing of Easter and higher CIT NEUTRAL
• EME Macro/Strategy: macro all-in-one (6-12 May)
• OMV Petrom: signs agreement for supply of renewable energy to Saint-Gobain Romania NEUTRAL
• Mo-BRUK: challenging 1Q24E expected, with EBITDA down 19% yoy (due on 16 May)
• Allegro: 1Q24E results preview – 22% yoy EBITDA growth expected (due on 23 May)
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.
Otokar Otomotive Ve Savunma Sanavi is engaged in the import, manufacture, assembly, sale and export of bodies, engines, and all other components of all kinds of land, sea and air defense vehicles, as well as security vehicles, commercial buses, trucks, minibuses, midibuses, panel vans, cross-country vehicles, etc. Co.'s primary focus is on the production of Land Rover 4x4 and minibuses.
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.
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