WOOD Daily: ALE PW; LAMDA GA; CZ Macro; PGE PW; PCO PW; DIGI RO; SNP RO; TGN RO; KLKIM TI
HEADLINES:• Allegro: 2Q23 results above expectations; guidance for EBITDA acceleration in 3Q23E POSITIVE
• Lamda Development: 1H23 - existing malls NOI ahead of our estimates, NAV stable at EUR 7.8/share POSITIVE
• Czech Republic macro: CNB preparing for the first rate cut
• PGE: 2Q23 earnings call takeaways
• Pepco Group: another profit warning and management reshuffle NEGATIVE
• DIGI Communications: in talks with Macquarie and Abrdn to sell stake in its Spanish fibre network NEUTRAL
• OMV Petrom: signs gas purchase contract with BOTAS NEUTRAL
• Transgaz: royalties could return to 10% of revenues, from 0.4% NEUTRAL
• Kalekim: 300% stock split NEUTRAL
• Short News (DAT)
Lamda Development is a real estate development group based in Greece. Co.'s main activities comprise investment, development and maintenance of innovative real estate projects. Co. operates in Greece, as well as in other neighboring Balkan countries mainly Romania, Bulgaria, Serbia, Montenegro. Co.'s operations are organized along two business segments: Real Estate; and Marine Services. Co. is a subsidiary of Lamda Holdings.
PGE Polska Grupa Energetyczna is an electricity company based in Poland. Co. is engaged in the generation and selling of electricity. Co. is a predominant power producer and supplier in Poland and a major heat and power sector company in Central and Eastern Europe. Co. supplies over 5 million households, businesses and institutions through a combination of its own fuel resources (lignite), power generation and final distribution networks. Co.'s activities focus on the following areas: Conventional Power Generation, Renewable Power Generation, Nuclear Power Generation, Wholesale, Distribution and Retail. Co. has 12.2 GW of installed generation capacity.
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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