WOOD Daily: KMB MS; TNB MS; THYAO TI; ATRS AV; EME Macro/Strategy – TL; BRISA TI; EL RO; Rear-View Mirror; DNP PW
HEADLINES:• North Macedonian banks: growth story to continue after COVID-19 (Komercijalna Banka downgraded to HOLD, NLB Banka stays HOLD)
• Turkish Airlines: 1Q21 - solid results against difficult backdrop, cargo helps reduce cash burn POSITIVE
• Atrium: 1Q21 - gradual reopening of retail across CEE, new hybrid bond boosts equity
• EME Macro/Strategy: Turkey - modest growth prospects, with worrying inflation
• Brisa: takeaways from the 1Q21 earnings call NEUTRAL
• Electrica: reports key operational indicators for 1Q21 POSITIVE
• The Rear-View Mirror - EME markets: Greece performs well again, but volumes down across the board
• Dino: 1Q21E results preview (due on 7 May) NEUTRAL
Atrium European Real Estate is engaged in the ownership, management and operation of commercial real estate in the retail sector. Co. primarily operates in Poland, the Czech Republic, Slovakia, Russia, Hungary and Romania. Co. has two reportable segments: the standing investment segment includes all commercial real estate held to generate rental income for Co.; and the development segment includes all development activities and activities related to land plots. As of Dec 31 2016, the portfolio of standing investments consisted of 59 properties in Poland, the Czech Republic, Slovakia, Russia, Hungary, and Romania.
Brisa Bridgestone Sabanci Lastik Sanayi ve Ticaret is engaged in the manufacture and sale of vehicle tires for domestic and foreign brands.
Dino Polska is engaged in the business of retail sale in non-specialized stores with food, beverages and tobacco. In addition, Co. conducts processing of meats and the resulting products are dedicated, in the form of culinary meat, to external recipients within Co.'s retail chain. As of December 31, 2016, Co. operated a network of 628 Dino stores.
Turk Hava Yollari is engaged in the airline industry with the airline flying to 103 destinations, throughout Turkey and internationally. As of the year end, Co. maintains 66 aircrafts with a total seat capacity of 10,672, and leases a A300-200 cargo aircraft. Co. has various services for their customers which include: various ways of checking in and on-line ticket sales.
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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