Report
Research Team

WOOD Daily: SPL PW; ACP PW; TRESTATE GA; CEZ CP; APR PW; MCOVB SS

HEADLINES:
• Santander BP: 4Q24 results imply solid dividend potential, but share overhang remains a risk in the near term POSITIVE
• Asseco Poland: TSS acquires 14.84% stake in Asseco Poland NEUTRAL
• Trade Estates: Fourlis sells 16% stake at EUR 1.5/share
• CEZ: to sell 15% stake in Veolia CR heating business NEUTRAL
• Auto Partner: January sales growth at a limited 9% yoy NEGATIVE
• Medicover: 4Q24E preview (due on 12 February)
• Short News (CBF, SHO)
Underlyings
Asseco Poland SA

Asseco Poland is a provider of proprietary information technology ("IT") solutions which is based in Poland. Co. is engaged in provision of consulting on IT infrastructure, security solutions, human resources solutions, outsourcing services as well as fully comprehensive IT support. Co.'s profile includes software and computer hardware consultancy, production of software as well as supply of software and hardware. This category includes analysing, developing, and programming ready-to-use IT systems. In addition to IT services, Co. also sells goods including mainly computer hardware.

Auto Partner SA

Auto Partner SA is a Poland-based company engaged in the auto, truck and motorcycle parts industry. The Company is an importer and distributor of spare parts for cars and light commercial vehicles. Auto Partner SA is an enterprising entity with its headquarters as well as logistic and distribution centre located in Bierun near Tychy. The Company has approximately 60 branch offices across the domestic markets and some representative offices in neighboring countries, in the Czech Republic, Slovakia, Ukraine and Belarus, among others. Auto Partner SA distributes stabilizer links, steering rod end sets, steering rods, suspension arms, pins, rubber - metal parts, power steering pumps and steering gears, among others.

CEZ as

CEZ Group is a dynamic, integrated electricity conglomerate based in the Czech Republic and with operations in a number of countries of Central and Southeastern Europe and Turkey. Co. is an international group consisting of nearly 120 companies, Czech and foreign. Co.'s primary activities involve the production and transmission of electricity through nuclear, coal-fired and hydro power stations; production and distribution of heat and processing of secondary products generated during the production of electricity and heat as well as coal mining. Co. has operating companies in Poland, Bulgaria, Romania, the Netherlands, Ireland, Germany, Hungary, Albania, Turkey, Serbia, and Slovakia.

Medicover AB

Medicover AB is a Sweden-based healthcare and diagnostic services provider. It offers a broad range of healthcare services and hub-and-spoke diagnostic laboratory network, supported by proprietary software and information systems infrastructure. The Company offers its services through two divisions: Healthcare Services and Diagnostic Services. The Healthcare Services division offers services ranging from primary care to specialist outpatient and inpatient care. The care is delivered mainly through Medicover's own network of clinics and medical facilities. The Diagnostic Services division offers a broad range of diagnostic laboratory testing for humans and some veterinary services across all main clinical pathology specialties. The Company focuses primarily on such markets, as Poland, Germany, Romania, Ukraine.

Santander Bank Polska SA

Bank Zachodni is a bank seated in Poland. Co. and its subsidiaries provide a range of banking services for individual and business customers and operate in domestic and interbank foreign markets. Additionally, Co. provides also the following services, including intermediation in trading securities, leasing, factoring, asset/ fund management, insurance services, trading in stock and shares of commercial companies, and brokerage activity. Operational activity of Co. and its subsidiaries has been divided into five segments: Retail Banking, Business and Corporate Banking, Global Banking and Markets, ALM (Assets and Liabilities Management) and Centre, as well as Santander Consumer.

TRADE ESTATES REIC 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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