Report
Research Team

WOOD Daily:

HEADLINES:
• CE4 macro: 1Q23 GDP confirms the expected relative performances, with upside for Poland
• Bank of Cyprus: a solid start in 1Q23, ahead of the FY23E targets POSITIVE
• Aegean Airlines: 1Q23 results - strong start to the year, with high fares and good cost control POSITIVE
• Auto Partner: 1Q23 results just in line with the preliminary guidance NEUTRAL
• Purcari Wineries: takeaways from the 1Q23 earnings call
• Transelectrica: takeaways from the 1Q23 earnings call NEGATIVE
• Solutions: positive takeaways from the 1Q23 earnings call POSITIVE
• Inter Cars: takeaways from the management call NEUTRAL
• Inter Cars: management recommends a DPS of PLN 0.71, implying an immaterial yield NEUTRAL
• Inter Cars: 1Q23E results preview - adjusted EBITDA up by limited 4% yoy (due on 19 May)
• Allegro: 1Q23E results preview - 6% yoy EBITDA growth expected (due on 25 May) NEUTRAL
• Telecom Egypt: 1Q23E results preview (due at end-May 2023E)
Underlyings
Aegean Airlines SA

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.

Allegro.eu SA

ARABIAN INTERNET & COMMUNICATIONS SERVICES CO

Auto Partner SA

Auto Partner SA is a Poland-based company engaged in the auto, truck and motorcycle parts industry. The Company is an importer and distributor of spare parts for cars and light commercial vehicles. Auto Partner SA is an enterprising entity with its headquarters as well as logistic and distribution centre located in Bierun near Tychy. The Company has approximately 60 branch offices across the domestic markets and some representative offices in neighboring countries, in the Czech Republic, Slovakia, Ukraine and Belarus, among others. Auto Partner SA distributes stabilizer links, steering rod end sets, steering rods, suspension arms, pins, rubber - metal parts, power steering pumps and steering gears, among others.

Bank of Cyprus PCL

C.N.T.E.E. Transelectrica

Inter Cars S.A.

Inter Cars is an automotive spare parts distributor for passenger cars, commercial vehicles and trucks in Middle-Eastern Europe. The product range of Co. reaches over one million different automotive spare parts for passenger cars and trucks. No matter if the car is European or Asian one, Co.'s customers can find full range of products for their cars as well as all the necessary tools and garage equipment. Besides spare parts distribution, which is the core business of Co., Co. is also an exclusive distributor of legendary motorcycle brand “TRIUMPH” in Poland (via motorcycle distribution network, called Inter Motors) and distributor of spare parts and accessories for other motorcycle brands.

Purcari Wineries PCL

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

Other Reports on these Companies
Other Reports from Wood and Company

ResearchPool Subscriptions

Get the most out of your insights

Get in touch