Report
Research Team

WOOD Daily: MGROS TI; NRP NA; TLV RO; TKNSA TI; AKCNS TI; TL Macro; NLBR SV; PEO PW

HEADLINES:
• Migros: solid operating results in 2Q24 POSITIVE
• NEPI Rockcastle: 1H24 – robust NOI growth and strong tenant sales POSITIVE
• Banca Transilvania: 2Q24 bottom-line beat on higher trading income and lower provisions booked POSITIVE
• Teknosa: weak set of results in 2Q24 NEGATIVE
• Akcansa: 2Q24 conference call takeaways
• Türkiye macro: CBT reaffirms prolonged pause
• NLB Group: threshold for Addiko acquisition not met, plan shelved NEGATIVE
• Bank Pekao and Commerzbank: notify National Bank of Lithuania about potential activity
Underlyings
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.

Banca Transilvania S.A.

BANK POLSKA KASA OPIEKI SA

Bank Polska Kasa Opieki (the Bank) is a commercial bank providing a range of banking services, mainly in Poland. The segments of the Bank are as follows: Retail banking, which comprises all banking activities related to retail customers and small and micro companies; Private banking, which comprises all banking activities related to the affluent individual customers; Corporate and Investment banking, which comprises all banking activities related to the companies, interbank market, debt securities and other instruments; and Assets and Liabilities Management and other, which is engaged in the supervision and monitoring of fund transfers, and other activities centrally managed.

Migros Ticaret A.S

Migros Ticaret is a retailing group based in Turkey. Co. offers spacious stores in a wide range of formats and locations whose vast selection of stationery, glass and kitchenware, appliance, book, clothing, and other items along with groceries and other necessities. Co. maintains a store network of 1,004 national and international locations with a national presence in 70 provinces in Turkey's seven geographical regions. Store brand names include M, MM, MMM, 5M, MigroJet, Tansas, Macrocenter and Ramstores. Co. also provides customers alternatives such as internet, call centers, kiosks, catalogues, and mobile shopping networks.

NEPI Rockcastle Plc

NEPI Rockcastle is engaged in developing, acquiring and holding commercial properties, either directly or indirectly through the acquisition of listed equities.

Teknosa Ic Ve Dis Ticaret AS

Teknosa Ic ve Dis Ticaret AS is a Turkey-based company engaged in the retail trade of electronics. Its products mainly comprise of a wide range of consumer electronics and household appliances, such as dishwashers, vacuum cleaners, televisions, mobile phones, digital cameras as well as personal computers, 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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