Report
Research Team

WOOD Daily: TEL RO; KAP LI; MOH GA; PCF PW; SNG RO; SNP RO; TOASO TI; FROTO TI; DOAS TI; TEN PW; CPS PW; PCF PW

HEADLINES:
• Transelectrica: 2022 net profit high but in line, low profit budgeted for 2023E NEGATIVE
• Kazatomprom: 4Q operating update - good quarterly data, but weaker guidance NEUTRAL
• Motor Oil Hellas: Interministerial Committee for Strategic Investments approves LNG terminal
• PCF Group: increases stake in Incuvo to 50.01%, financed with 136k new shares issue (0.45% dilution) NEUTRAL
• OMV Petrom/Romgaz: looking into potential acquisition of 70% of Black Sea Oil&Gas
• OMV Petrom: 4Q22E earnings preview (due on 2 February)
• Tofas: 4Q22E earnings preview (due on 2 February) NEUTRAL
• Ford Otosan: 4Q22E earnings preview (due on 8 February) NEUTRAL
• Dogus Otomotiv: 4Q22E earnings preview (due on 28 February) NEUTRAL
• Ten Square Games: 4Q22E adjusted EBITDA down slightly qoq on flat bookings (due on 27 March)
• Cyfrowy Polsat: 4Q22E preview - 7% yoy drop in adjusted EBITDA expected (due on 30 March)
• PCF Group: uninspiring 4Q22E, revenues flat qoq, bottom line in the red due to FX (due on 27 April) NEUTRAL
• Short News (KRU, SNP)
Underlyings
Autohellas S.A.

Autohellas is a Hertz national franchisee. Co. is engaged in the rent-a-car segment, comprising of renting (short-term lease) and fleet management (long-term lease and fleet management) in Greece, Bulgaria, Cyprus, Romania, Serbia and Montenegro. Renting covers the needs of both individuals and companies for occasional, small duration rentals up to 1 year long.

C.N.T.E.E. Transelectrica

Cyfrowy Polsat SA

Dogus Otomotiv Servis ve Ticaret A.S.

Dogus Otomotiv Servis Ve Ticaret is an automotive importer and distributor in Turkey. Co. represents 14 international brands each of which is engaged in the following sectors: Passenger cars, Light commercial vehicles, Heavy commercial vehicles, Industrial and marine engines, and Cooling systems.Co. provides its individual and corporate customers with a portfolio of more than 80 models. Co. competes in the industrial and marine engines market by representing the brand Scania Engines and in the cooling systems market representing Thermo King brand. Co.'s sales and service network is comprised of over 500 contact points.

Ford Otomotiv Sanayi A.S.

Ford Otomotiv Sanayi is an automobile manufacturing company based in Turkey. Co. operates as a joint venture between Ford Motor Company and the Koc Group of Companies. Co. is engaged in manufacturing, assembling and selling motor vehicles, primarily commercial vehicles, imports and sells passenger cars and manufactures and imports and sells spare parts of those vehicles. Co. has two plants located in Kocaeli and Eskisehir, has a spare part distribution warehouse in Kartal, Istanbul and a branch in Tubitak Marmara Research Centre, Gebze Campus Technological Free Zone (TEKSEB).

National Atomic Company Kazatomprom

PCF Group SA

Petrom S.A.

Societatea Nationala De Gaze Naturale ROMGAZ SA

Ten Square Games

Ten Square Games SA is a Poland-based mobile games development company. The Company is focused on 3D simulation hobby games for people who seek outdoor experiences on their mobile devices, like fishing or hunting games. Its games are available on social platforms, a network of partner sites, as well as on Google Play, App Store and Microsoft Store.

Tofas Turk Otomobil Fabrikasi 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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