Report
Research Team

WOOD Morning (3 May)

HEADLINES:
* Coca-Cola Icecek: 1Q18 - 26% EBITDA beat on international, strong volume growth in all markets POSITIVE
* OMV: 1Q18 results review - better than expected POSITIVE
* OMV Petrom: 1Q18 review - big beat on net income POSITIVE
* TSKB: 1Q18 wrap up - Stage 2 may create downbeat sentiment NEGATIVE
* Aselsan: 1Q18 in line NEUTRAL
* CCC: April sales up 32.5% yoy to PLN 455m POSITIVE
* Fondul Proprietatea: asks Hidroelectrica to pay a dividend of RON 2.6bn NEUTRAL
* Transgaz: another attempt to establish a dividend NEUTRAL
* The Rear-View Mirror - CEE markets: Greek equities gained the most in April in EME
* MOL: 1Q18E preview (due out tomorrow, before the open) NEUTRAL
* Siauliu Bankas: 1Q18E results preview (due on 7 May)
Underlyings
Aselsan Elektronik Sanayi ve Ticaret A.S. Class B

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.

Coca-Cola Icecek A.S.

Coca-Cola Icecek is a bottler and distributor of alcohol-free beverages in Turkey, Pakistan, Central Asia and the Middle East. Co. focuses on the production, sales and distribution of sparkling and still beverages with The Coca-Cola Company (TCCC) trademarks. Co. has rights to produce, sell and distribute TCCC branded beverages including Coca-Cola, Coca-Cola Zero, Coca-Cola Light, Fanta, Sprite, Cappy, Sen Sun, Powerade and Fuse Tea in TCCC authorized packages throughout Turkey. Co. also has the right to produce, sell and distribute Burn and Gladiator branded energy drinks throughout Turkey, as well as bottling and distribution rights in Turkey for Schweppes branded beverages.

Fondul Proprietatea

Petrom S.A.

Societatea Nationala de Transport Gaze Naturale Transgaz S.A.

TSKB Gayrimenkul Yatirim Ortakligi AS (A)

TSKB Gayrimenkul Yatirim Ortakligi AS. TSKB Gayrimenkul Yatirim Ortakligi AS (TSKB GYO) is a Turkey-based real estate investment company. The Company is primarily an investment institution engaged in the investment and development of real estate projects in Turkey. Its real estate portfolio includes : two office buildings in Findikli, Istanbul with approximately 20,000 square meters of area, an office building in Karakoy, Istanbul with an area of 3,198 square meters, Pendorya Shopping Center Project in Pendik, Istanbul with 80,642 square meters of indoor area, and a piece of land in Seyhan, Adana with a city hotel project under development. The Company focuses on retail parks and mixed-use projects primarily in and around the city of Istanbul and in other parts of Turkey. TSKB GYO is a subsidiary of Turkiye Sinai Kalkinma Bankasi A.S.

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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