WOOD Daily: CE4 Macro; BFT PW; MBR PW; CPS PW; TGN RO; SOKM TI; HSBK LI; CAR PW; H2O RO; SNG RO; TEL RO; NRP NA
HEADLINES:• CE4 macro: weak 2Q GDP, as expected
• Benefit Systems: positive surprise in 2Q23 gross margin, strong FY23E guidance POSITIVE
• Mo-BRUK: 2Q23 EBITDA 6% below our forecast on weaker top line NEGATIVE
• Cyfrowy Polsat: 2Q23 results review - soft numbers, in line with expectations NEGATIVE
• Transgaz: lower-than-expected net loss in 2Q23 NEUTRAL
• Sok Marketler Ticaret: 2Q23 results - in line NEUTRAL
• Halyk Savings Bank: 2Q23 results on track POSITIVE
• Inter Cars: 2Q23 preliminary net profit misses our forecast by 22%, on weaker margins NEGATIVE
• Hidroelectrica: 2Q23 net profit increases by 58% yoy, on a similar increase in volumes sold POSITIVE
• Romgaz: takeaways from the 2Q23 earnings call NEUTRAL
• Transelectrica: takeaways from the 2Q23 earnings call NEUTRAL
• NEPI Rockcastle: increases its FFO guidance by around 5-6% POSITIVE
Benefit System SA is a Poland-based company engaged in providing work benefits in the area of sport, recreations, culture and entertainment for employers. Its products portfolio includes MultiSport Plus card, program that allows access to the sport and recreation clubs and multi-purpose facilities; MultiBet, providing access to more than 90 cinemas through Poland; and cafeteria programs, which allow employees to select items from such segments as sport, recreation, culture, entertainment, tourism and health and beauty. The Company is a parent entity of a capital group, which includes subsidiaries, such as MyBenefit Sp z o o, FitSport Polska Sp z o o, Vanity Style Sp z o o and Multisport Benefit sro, based in the Czech Republic.
Inter Cars is an automotive spare parts distributor for passenger cars, commercial vehicles and trucks in Middle-Eastern Europe. The product range of Co. reaches over one million different automotive spare parts for passenger cars and trucks. No matter if the car is European or Asian one, Co.'s customers can find full range of products for their cars as well as all the necessary tools and garage equipment. Besides spare parts distribution, which is the core business of Co., Co. is also an exclusive distributor of legendary motorcycle brand “TRIUMPH” in Poland (via motorcycle distribution network, called Inter Motors) and distributor of spare parts and accessories for other motorcycle brands.
Mo-Bruk SA is a Poland-based company involved in the production of concrete. It is also active in the area of hazardous and other than hazardous industrial waste management. Additionally, the Company operates a waste recovery plant, waste recycling plant, alternative fuel production plant and an industrial waste landfill. The Company produces alternative fuels from municipal and industrial wastes. The Company is also the owner of two open non-stop petrol stations for liquefied fuel, as well as a technical inspection station. Mo-Bruk SA is also engaged in the construction of concrete surfaces. As of December 31, 2011, the Company operated one wholly owned subsidiary, Raf-Ekologia Sp. z o.o.
NEPI Rockcastle is engaged in developing, acquiring and holding commercial properties, either directly or indirectly through the acquisition of listed equities.
Sok Marketler Ticaret AS. Sok Marketler Ticaret AS, located in Istanbul, Turkey, owns and operates grocery stores. It sells Amigo, Crown, Deren, Evin, Karmen, Lio, Peki, Piyale and Tempo brands. The Company was founded in 1995.
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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