Report
Research Team

WOOD Daily: AIRA LI; G2M SS; BOCHGR GA; AKCNS TI; KRU PW; ARABIAND AB; ALE PW

HEADLINES:
• Air Astana Group: market cap largely covered by net cash (upgraded to BUY)
• Gentoo Media: 4Q24 financial results review, and key conference call takeaways NEUTRAL
• Bank of Cyprus: 4Q24 results and 2025E guidance highlights
• Akcansa: key takeaways from the 4Q24 conference call
• Kruk: 4Q24E cash EBITDA and net profit guidance NEUTRAL
• Arabian Drilling: announces strategic alliance with Shelf Drilling POSITIVE
• Allegro: 4Q24E results preview – flat yoy EBITDA expected (due on 14 March) NEUTRAL
• Short News (4iG)
Underlyings
AIR ASTANA JSC

Akcansa Cimento

Co. is engaged in the manufacture and sale of clinker, cement and ready mixed concrete, establishment of facilities for the same or their purchase in part or in full.

Allegro.eu SA

ARABIAN DRILLING CO.

GAMING INNOVATION GROUP

Gaming Innovation Group Inc. (GIG) is a holding company. The Company provides gambling solutions and entertainment. The Company's principal activity is to provide a platform for and facilitate Internet gambling, gaming and sports betting. The Company operates two segments, the Business to Consumer (B2C) segment which includes the gaming operations directed towards end users, and the Business to Business (B2B) segment which includes its iGC platform offering, sports trading, games and affiliate marketing. The Company's GiG Core is a cloud-based solution licensed in Malta, United Kingdom, New Jersey, Germany, Sweden, Iowa, Latvia and Romania. The Company's sportsbook can deliver end users a betting experience on offline or online channels. The Company's GiG Data is a data platform, which can be integrated with GiG Core or with third-party solutions for data system. The Company operates in Nordic countries, Europe excluding Nordic countries and Rest of world.

Kruk S.A.

Kruk SA. Kruk SA is a Poland-based company, which is engaged in the business support industry. The Company is a multi-operator, which offers loss prevention and debt collection services. The Company divides its business into two main operating segments: Debt Purchase, including acquisition of non-performing debt portfolios, and Debt Collection Outsourcing, offering fee-based collection of debt on client's behalf, focused on consumer and corporate loans. The Company provides services to financial institutions and large corporate customers. It manages receivables of banks, credit intermediaries, leasing companies and digital platform providers, among others. The Company's operating activities concentrate in a number of countries, such as Poland, Romania, Czech Republic, Slovakia and Spain. The Company's subsidiaries include Kruk Deutschland GmbH, Presco Investments Sarl and Espand Soluciones de Gestion y Recuperacion de Deuda SL, among others.

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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