Report
Research Team

WOOD Daily: global macro, TEL RO, EL RO, ALR RO, PKO PW, ETEL EY, CZG CP, TU macro, EXAE GA

HEADLINES:
• Global macro: latest data
• Transelectrica: takeaways from the 4Q22 earnings call
• Electrica: disappointing 2023E budget
• Alro: 2023 budget shows a significant decline in profitability
• PKO BP: reshuffling in the Supervisory Board NEGATIVE
• Telecom Egypt: management revises the proposed 2022 dividend to EGP 1.25/share NEUTRAL
• Colt CZ Group: thoughts on the 4Q22 earnings beat and FY23 guidance
• Turkey chartbook: all eyes on the elections as imbalances grow
• Athens Exchange Group: 4Q22E results preview (due out today, 27 March)
• Short news (4iG, SNP)
Underlyings
Alro Slatina

C.N.T.E.E. Transelectrica

Ceska Zbrojovka Group

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.

PKO Bank Polski S.A.

PKO Bank Polski is a universal commercial bank offering services to both domestic and foreign retail, corporate and other clients. Co. is licensed to hold foreign exchange and currencies and sell/buy them, as well as perform a full range of foreign exchange services; open and hold bank accounts abroad and to deposit foreign exchange in these accounts. In addition, Co. conducts activities relating to leasing, factoring, electronic settlements via payment cards, as well as renders other financial services. As of Dec 31 2009, Co. had total assets of Zl156,478,685,000 and total deposit of Zl124,628,562,000. Co. operates in the Republic of Poland, Ukraine and Sweden.

Societatea Energetica Electrica

Telecom Egypt

Telecom Egypt is a telecommunications provider in Egypt and is engaged in the provision of fixed-line services in the Middle East. Co. offers a fixed line and retail telecommunications services and provides wholesale telecommunications services. Co. provides retail telecommunication services including access, local, long distance and international voice, internet and data, and other services. Co. also provides wholesale services including broadband capacity leasing to ISPs, and national and international interconnection services. Co.'s internet and data services include the provision of internet broadband access data transmission services and leased lines.

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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