WOOD Daily: BDX PW; VGO PW; PL Banks; PZU PW; SNP RO; FP RO; WINE RO; KLKIM TI; EL RO
HEADLINES:• Budimex: 4Q23 preliminary results in line with the January guidance, strong gross margin of 14.4% NEUTRAL
• VIGO Photonics: HyperPIC selected for PLN 453.6m co-financing under the European Funds for a Modern Economy 2021-2027 POSITIVE
• Polish banks: PLN 1,563m of sector contributions to resolution fund in 2024E, guarantee fund contributions still suspended
• PZU: most of the Management Board dismissed, but CFO stays
• OMV Petrom: signs financing agreement through recovery plan for two hydrogen projects NEUTRAL
• Fondul Proprietatea: Ministry of Finance proposes lower base fee for the Fund manager and the preservation of the portfolio NEGATIVE
• Purcari Wineries: deputies from Transnistria could call for a referendum on annexation to Russia
• Kalekim: change of CEO NEUTRAL
• Electrica: 4Q23E – stronger qoq EBITDA expected (due on 29 February)
• Short News (PKO)
Budimex S.A. is a holding company. Through its subsidiaries, Co. is engaged in building, assembly and erection works in the scope of general industrial and engineering construction, electrical power construction & assembly, environmental protection, road and highway construction, water and sewage system construction, the rendering of design services and technical and business consulting and real estate development. Co. maintains activities in strategic segments of the market, such as road and bridge construction, general construction works (office, hotel and institutes of higher education), and ecological/environment-related construction.
Powszechny Zaklad Ubezpieczen is an insurance group based in Poland. Co. is engaged in offering a broad range of insurance and financial products. Co. pursues three main lines of business: Property and Casualty Insurance, offered by PZU; Life Insurance, offered by PZU Zycie; and Open-end Pension Funds, offered by PTE PZU, the manager of OFE PZU Zlota Jesien. Co. maintains a network of sales and service outlets including 500 outlets throughout Poland, including 243 shared outlets (common for PZU and PZU Zycie), 137 outlets of PZU Zycie and 120 outlets of PZU. Co.'s business is focused on the Polish market but it also conducts insurance business in the Lithuanian and Ukrainian markets.
Vigo System SA is a Poland-based company engaged in the production of detectors business sector. The Company is a manufacturer of standard and customized High Operating Temperature cadmium mercury telluride (HgCdTe) detectors. The Company's products are divided into three categories, including Infrared Detectors, Infrared Cameras and Measurement Equipment. The Company sells its products worldwide, including the United States, Canada, Finland and Australia, among others. It also cooperates and sells the products to NASA.
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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