Report
Research Team

WOOD Daily: CTPNV NA; ALR PW; ISB IR; CCC PW; EU Energy; INPST NA; ALE PW; SNG RO; MOL HB; RICHT HB; OPL PW; SHO PW; BRD RO; TUPRS TI; DIGI RO

HEADLINES:
• CTP: attractive growth story, but high LTV a risk (HOLD - initiation of coverage)
• Alior Bank: publishes key targets for 2023-24E strategy
• Islandsbanki: thoughts on Kvika's letter on potential merger talks NEUTRAL
• CCC: 4Q22 prelims - soft, as expected NEGATIVE
• European Oil and Gas Monthly: January 2023
• InPost/Allegro: DHL and AliExpress joining forces in Poland NEGATIVE
• Romgaz: new gas-fired power plant to be finalised in 2H24E
• MOL: Hungarian National Bank approves company's acquisition of power and heat business Alteo
• Richter: acquires Irish OC distribution rights company for GBP 32.5m
• Orange Polska: terminates cheapest Orange Flex mobile tariff POSITIVE
• Shoper: CEO comments for local press, eyeing 2023E revenue growth of several dozen percent yoy NEUTRAL
• BRD-GSG: 4Q22E results (due out tomorrow)
• Tupras: 4Q22E results preview (due out tomorrow)
• DIGI Communications: 4Q22E preview - 4% yoy organic EBITDA growth expected (due on 28 February)
• Short News (EL, RO)
Underlyings
Alior Bank SA

Alior Bank is a universal lending and deposit-taking bank which renders services to individuals, legal persons and other entities which are Polish and foreign persons. Co.'s core activities include maintaining bank accounts, granting loans and advances, issuing banking securities and purchasing and selling foreign currency. Co. also conducts brokerage activities, consulting and financial agency services and renders other financial services.

Allegro.eu SA

BRD-Groupe Societe Generale

CCC SA

CCC is engaged in the wholesale and retail trade of clothing and footwear. Co. offers its products to wide range of consumers, from demanding clientele of trendy boutiques to value-oriented medium segment customers, to less wealthy customers seeking reasonably priced quality footwear. Co. pursues a strategy of brand diversification, which is reflected in its three autonomous distribution channels: a chain of official CCC stores, BOTI footwear shops and QUAZI boutiques. Co. offers more than 2,500 designs of footwear. Co. also owns more than 67 proprietary brand names e.g. Lasocki.

Digi Communications NV

InPost S.A.

ISLANDSBANKI HF

MOL Nyrt

Orange Polska S.A.

Orange Polska SA is a supplier of telecommunications services in Poland. Co. provides services, including fixed-line telecommunication services, Integrated Services Digital Network, voice mail, dial-up and fixed access to the Internet and Voice over Internet Protocol. Co. is one of Poland's three DCS 1800 and GSM 900 mobile telecommunications providers. Co. provides also third generation UMTS services. In addition, Co. provides leased lines, radio-communications and other telecommunications value added services, sells telecommunications equipment, produces electronic phone cards and provides data transmission, telephone directories, multimedia services and various Internet services.

SHOPER SA

Societatea Nationala De Gaze Naturale ROMGAZ SA

Turkiye Petrol Rafinerileri A.S.

Turkiye Petrol Rafinerileri is an energy and refining company based in Turkey. Co. is engaged in providing and refining crude oil, the importing and exporting of oil products, and establishing and operating refineries in Turkey and foreign countries. Also, Co. is establishing and operating factories and facilities in the petrochemical industry. Co. is engaged in purchasing, selling, importing, exporting, storing, marketing and distributing (wholesale, retail, foreign and domestic) all kinds of petroleum products, LPG and natural gas. Co. runs its business through the refineries in Izmit, Izmir, Kirikkale and Batman.

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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