WOOD Daily: CTPNV NA; GE Macro; RBI AV; AIRA LI; TPEIR GA; ALK MS; ETE GA; GEV CP; AKBNK TI; PCF PW; CEZ CP; PL Macro
HEADLINES:• CTP: better late than never (upgraded to BUY)
• Georgia macro: protests in Tbilisi
• Raiffeisen Bank International: posts solid 1Q24, keeps 2024E guidance (but only on ex. Russia and Belarus basis), facing huge pressure to address Russia and Belarus exposures from officials
• Air Astana Group: 1Q24 – 15% ASK growth, RASK down slightly yoy, but CASK stable
• Piraeus Financial Holdings: 1Q24 highlights NEUTRAL
• Alkaloid: 1Q24 numbers a strong start to the year POSITIVE
• National Bank of Greece: 1Q24 highlights POSITIVE
• GEVORKYAN: 4Q23 results broadly in line with our estimates NEUTRAL
• Akbank: 1Q24 highlights
• PCF Group: earnings call takeaways – 1Q24E may be affected by cuts in Gemini project profitability NEGATIVE
• CEZ: EC okays financing model for first new nuclear unit POSITIVE
• Poland macro: a closer look at retail spending, appetite and pricing
CEZ Group is a dynamic, integrated electricity conglomerate based in the Czech Republic and with operations in a number of countries of Central and Southeastern Europe and Turkey. Co. is an international group consisting of nearly 120 companies, Czech and foreign. Co.'s primary activities involve the production and transmission of electricity through nuclear, coal-fired and hydro power stations; production and distribution of heat and processing of secondary products generated during the production of electricity and heat as well as coal mining. Co. has operating companies in Poland, Bulgaria, Romania, the Netherlands, Ireland, Germany, Hungary, Albania, Turkey, Serbia, and Slovakia.
Raiffeisen Bank International is a universal bank focusing on corporate and retail customers in Central and Eastern Europe (CEE) and on corporate customers in Austria. In CEE, Co. consists of a network of banks, leasing companies and financial service providers. In Austria, Co. is involved in corporate finance and export and trade finance banks. Co. provides services to customers in 2,800 branch offices. In the retail banking business, Co.'s product and service portfolio comprises inter alia credit services (mortgages, credit cards and personal loans), as well as payment transaction and current account package services. As of Dec 31 2014, Co.'s total assets amounted to Euro121.6 million
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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