Report
Research Team

WOOD Daily: ALPHA GA; EUROB GA; ETE GA; TPEIR GA; DOM PW; KGH PW; ALR RO; WINE RO; SNG RO; PL Banks; HMX1R LR; BOCH CY; EXAE GA

HEADLINES:
• Greek banks: earnings upgrades cycle (Alpha Bank, Eurobank, NBG and Piraeus Bank stay BUY)
• Dom Development: 3Q22 - en route to another year of record profit POSITIVE
• KGHM: 3Q22 results review - net income beat, but operating cash flow remains weak
• Alro: takeaways from the 3Q22 earnings call POSITIVE
• Purcari Wineries: takeaways from the 3Q22 earnings call NEUTRAL
• Romgaz: takeaways from the 3Q22 earnings call NEUTRAL
• Polish banks: PLN mortgage loan agreements subject to a court case NEGATIVE
• HansaMatrix: BaltCap prepares tender offer, details TBA POSITIVE
• Bank of Cyprus: 3Q22E preview - strong quarter ahead (due out tomorrow)
• Athens Exchange Group: 3Q22E preview (due on 21 November)
• Short News (FP)
Underlyings
Alro Slatina

Bank of Cyprus PCL

Dom Development SA

Dom Development is engaged in the construction and sale of residential real estate in Poland.

Eurobank Ergasias Services & Holdings SA

Eurobank Ergasias and its subsidiaries are organized in the following reportable segments: Retail. which incorporates customer current accounts, savings, deposits and investment savings products, credit and debit cards, consumer loans, small business banking and mortgages; Corporate, which incorporates direct debit facilities, current accounts, deposits, overdrafts, loan and other credit facilities, foreign currency and derivative products; Wealth Management, which incorporates private banking services; Global and Capital Markets, which incorporates investment banking services; and International, which incorporates operations in Romania, Bulgaria, Serbia, Cyprus, Ukraine and Luxembourg.

HansaMatrix AS

Hellenic Exchanges SA

The Hellenic Exchanges is engaged in the following business sectors: trading, clearing, settlement, data feed, IT, exchange services, depository services, clearinghouse services, and other.

KGHM Polska Miedz S.A.

KGHM Polska Miedz is engaged in the mining of copper and non-ferrous metals ore; the excavation of gravel and sand; the production of copper, precious and non-ferrous metals; the production of salt; the casting of light and non-ferrous metals; the forging, pressing, stamping and roll forming of metal- powder metallurgy; waste management; wholesale based on direct payments or contracts; warehousing and storage of merchandise; holding management activities; geological and exploratory activities; general construction activities with respect to mining and production facilities; scheduled and non-scheduled air transport; telecommunication and IT services; and other activities.

National Bank of Greece S.A. ADS

Piraeus Bank SA

Purcari Wineries PCL

Societatea Nationala De Gaze Naturale ROMGAZ SA

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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