WOOD Daily: FP RO; TGN RO; EL RO; WINE RO; BNET RO; ONE RO; ALR RO; CEE Macro; TEL RO; ALE PW; GPW PW; FP RO; SHO PW; HUG PW; STH PW
HEADLINES:• Fondul Proprietatea: better 1Q22 results for Hidroelectrica
• Transgaz: much better than expected 1Q22, on reversals of provisions and financial gains POSITIVE
• Electrica: lower-than-expected net loss in 1Q22, on better supply results POSITIVE
• Purcari Wineries: weaker sales but better margins in 1Q22 POSITIVE
• Bittnet Systems: 1Q22 - 62% yoy gross profit on sales expansion, in line with our expectations NEUTRAL
• ONE United Properties: 1Q22 - revaluations a major driver of earnings, again NEUTRAL
• Alro: net loss, as expected, in 1Q22, on better gross profit, but higher financial losses NEUTRAL
• CEE macro: CE4 FX and macro forecasts update
• Transelectrica: takeaways from the 1Q22 earnings call NEUTRAL
• Allegro: Mall Group's FY22 GMV down 6.2% yoy NEUTRAL
• Warsaw Stock Exchange: recommends PLN 2.74 DPS (7% dividend yield) to be paid from 2021 profit POSITIVE
• Fondul Proprietatea: NAV per share up 9.8% mom NEUTRAL
• Shoper: 1Q22E EBITDA of PLN 7.7m, in line with preliminary guidance (due out tomorrow)
• Huuuge Games: 1Q22E - qoq results deterioration expected, starting from top line (due on 24 May)
• STS Group: 1Q22E results preview - 6% yoy EBITDA growth expected, from a high base (due on 25 May) NEUTRAL
• Short News (EBS, TNB)
STS Group AG is a Germany-based supplier of vehicle parts. The Company develops and manufactures solutions for acoustic and thermal insulation (soft trim) and components made of plastics or composite material (hard trim) for the automobile and trucking industries, focusing on four categories of vehicles: medium and heavy commercial vehicles (MHCV), light commercial vehicles (LCV), agriculture and construction vehicles (ACV), and light vehicles (LV), and supplying its products directly to Original Equipment Manufacturers (OEMs). The Company operates through three business segments: STS Acoustics, which includes mainly soft trim products with acoustic and thermal features that reduce noise and protect against heat; STS Plastics, which includes mainly hard trim products used for exterior body parts or interior modules, and Materials, which includes semi-finished goods from mixed composite recyclables. The Company operates production facilities in Europe, China, Mexico and Brazil.
Gielda Papierow Wartosciowych w Warszawie SA (Warsaw Stock Exchange, GPW) is a Poland-based stock exchange. It is a parent entity of WSE Group that offers products and services within its trading markets of equity, derivate, fixed income and structured products. It also distributes market data. The Company has two business lines: Financial market, which includes trading in equities, derivatives, fixed-income and other instruments, listing, and information services; and Commodity market, which includes trading in electricity and property rights in certificates of origin, operation of a register of certificates of origin, clearing, trade and technical trade operator services. As of December 31, 2011, it operates two wholly owned subsidiaries, WSEInfoEngine SA, providing data transmission and information services; and Instytut Rynku Kapitalowego WSE Research SA, engaged in publishing; as well as 92.47%-owned BondSpot SA.
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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