WOOD Daily: A4L BU; HSBK LI; AEGN GA; ROSN LI; ENKAI TI; HMX1R LR; BNET RO; DIGI RO; FP RO; TEL RO; WINE RO; SNN RO; PL Macro; TELEC CP; ALE PW; INPST NA; PZU PW
HEADLINES:• Allterco: +60% sound good? Not yet, not for us (stays BUY)
• Halyk Savings Bank: 1Q21 results review - business on track and still inexpensive
• Aegean Airlines: capital increase priced at EUR 3.2/sh, rights can be exercised for next two weeks POSITIVE
• Rosneft: 1Q21 results review
• Enka Insaat: 1Q21 results - strong beat, due to one-off collections POSITIVE
• HansaMatrix: strong network demand, net profit hit by warrant revaluation POSITIVE
• Bittnet Systems: 1Q21 results review - weak quarter, with 22% yoy drop in gross profit NEGATIVE
• DIGI Communications: 1Q21 results - mediocre, with adjusted EBITDA up 7% yoy, 1% below our estimate NEUTRAL
• Fondul Proprietatea: Hidroelectrica's 1Q21 net profit +77% yoy, and shareholders approve special dividend POSITIVE
• Transelectrica: 1Q21 - better-than-expected net profit, on non-core businesses
• Purcari Wineries: 1Q21 - strong sales in Romania, but room to recover in other regions
• Nuclearelectrica: 1Q21 conference call takeaways
• Poland macro: New Deal programme announced
• Poland macro: 1Q21 GDP at -1.7% yoy, below the consensus (-1.4% yoy)
• O2 Czech Republic: BoD approves CZK 21 DPS from the 2020 net profit NEUTRAL
• Allegro: weight in WIG index to be increased as of 18 May close POSITIVE
• InPost: 1Q21E preview (due on 19 May)
• PZU: 1Q21E preview summary (due on 27 May)
Aegean Airlines is an airline carrier based in Greece. Co. is engaged in aviation transportation, providing services that concern the transportation of passengers and commodities in the sector of public aviation transportation inside and outside Greece, conducting scheduled and unscheduled flights. Co. provides full service, premium quality short and medium haul services. Co. maintains a network of 145 destinations, 111 international in 45 countries and 34 domestic destinations. Co. is a member of global airline network, the Star Alliance network.
Enka Insaat ve Sanayi is an engineering and construction company. Co. operates in the following geographical areas: in Turkey, Co. is engaged in a range of construction activities including construction of industrial and social buildings, motorways and construction and operation of natural gas fired electrical energy generation facilities; in Russian Federation, Georgia, Turkmenistan and Kazakhstan, Co. is engaged in construction activities and also in investment and development of real estate properties and shopping malls in Moscow, Russia; and in Europe, Co. is engaged in construction and trading activities in Romania, the Netherlands, Switzerland, Germany and Kosovo.
O2 Czech Republic is a provider of voice, data and other telecommunications services in the Czech Republic. Co. provides telephony services to business and residential customers, operates pay phones, provides cellular phone services, euroISDN, leased lines, Internet and data services (including internet online ISDN services which offer digital connection to the internet network), telephone equipment and other services. Co. comprises two main business segments: the Fixed segment which is telephone services using the fixed telephone network and the Mobile segment which is mobile telephone services provided by Telefonica O2 Slovakia.
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.
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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