Report
Research Team

WOOD Daily: TBCG LN; MTSS RX; FOYRK GA; CCC PW; IIA AV; CGEO LN; INPST NA; MGNT LI; OGZD LI; WPL PW; HMX1R LR; COTE RO; WINE RO; RO Macro; RU Macro; CIE PW; FP RO

HEADLINES:
• TBC Bank: 1Q21 highlights - core lines do not look strong
• Mobile TeleSystems: 1Q21 - 3% beat on OIBDA, over 4% yoy 2021E OIBDA growth guidance reiterated POSITIVE
• Mobile TeleSystems: key takeaways from the 1Q21 earnings call NEUTRAL
• Fourlis: 1Q21 results - sales down 10% yoy, rebound on foreign operations
• CCC: final 4Q20 results slightly below prelims NEUTRAL
• Immofinanz: launches cash bid for S Immo, at EUR 22.25/share NEUTRAL
• Georgia Capital: 1Q21 NAV flat qoq, discount narrows NEUTRAL
• InPost: 1Q trading results slightly below expectations, FY21E guidance hike NEUTRAL
• Magnit: acquisition of Dixy POSITIVE
• Gazprom: press conference on strategy - key takeaways
• Wirtualna Polska: key takeaways from the 1Q21 earnings call POSITIVE
• HansaMatrix: takeaways from the 1Q21 earnings call NEUTRAL
• Conpet: 1Q21 results conference call takeaways
• Purcari Wineries: 1Q21 results conference call takeaways
• Romania macro: real GDP surprises materially to upside in 1Q
• Russia macro: GDP contracts by 1.0% in 1Q21
• Ciech: management recommends PLN 3.00 DPS (7% dividend yield) from the 2020 profit POSITIVE
• Fondul Proprietatea: draft law keeps water tax for power producers at RON 33/MWh
• Short News (CDR, TEL)
Underlyings
CCC SA

CCC is engaged in the wholesale and retail trade of clothing and footwear. Co. offers its products to wide range of consumers, from demanding clientele of trendy boutiques to value-oriented medium segment customers, to less wealthy customers seeking reasonably priced quality footwear. Co. pursues a strategy of brand diversification, which is reflected in its three autonomous distribution channels: a chain of official CCC stores, BOTI footwear shops and QUAZI boutiques. Co. offers more than 2,500 designs of footwear. Co. also owns more than 67 proprietary brand names e.g. Lasocki.

Ciech S.A.

Ciech is engaged in the production, trade and distribution of chemicals as well as comprehensive service activities directed at the domestic and foreign market. The main products sold by Co. are soda ash, TDI, plastics, resins, chemical fertilizers, plant protection chemicals, glass blocks and glass packaging, salt and other chemicals.

Conpet SA

Fondul Proprietatea S.A. GDR (Reg S)

Fourlis Holdings S.A.

Co. is engaged in the manufacture, import and distribution of electrical household appliances and the manufacture of FOURLIS kitchen hoods. In addition, through a subsidiary, Co. is engaged in the operation of a retail chain.

Gazprom (GDR)

Georgia Capital

Georgia Capital PLC. Georgia Capital PLC is a United Kingdom-based holding company. The Company is focused on investing in developing businesses in Georgia. Its portfolio companies include Georgian Global Utilities LLC (GGU), JSC m2 (m2), JSC Aldagi (Aldagi) and JSC Teliani Valley (Teliani). GGU carries on business in two areas: water utility and renewable energy generation. m2 is the Company's real estate business. m2 develops residential and commercial property in Georgia, outsourcing design while focusing on project and construction management, and sales. m2 also focuses on developing hotels with outsourced operations. Aldagi is a provider of property and casualty insurance products in Georgia. Aldagi primarily focuses on the Georgian motor vehicle, property, credit life, and liability insurance markets and also on other markets offering cargo and agricultural (Agro) insurance. Teliani is a wine and beer producer in Georgia and its sells its products across 15 countries.

HansaMatrix AS

IMMOFINANZ AG

Immofinanz AG is an Austria-based real estate company that invests in commercial properties. The Company's core activities are the management and development of retail and office properties in selected Central and Eastern European countries. The Company focuses its operations on such markets as Austria, Germany, the Czech Republic, Slovakia, Hungary, Slovenia, Romania and Poland. The Company manages a portfolio of approximately 240 properties, covering rentable space of approximately 1.8 million square meters. In the office sector, the Company concentrates on the capital cities of the core countries and the major office locations in Germany with its international myhive brand. The Company's activities in the retail sector are based on the brands STOP SHOP for retail parks and VIVO! for shopping centers which are designed for secondary and tertiary cities of Central and Eastern Europe.

InPost S.A.

Magnit PJSC Sponsored GDR RegS

Mobile TeleSystems PJSC

Mobile Telesystems is a provider of mobile cellular communications services in the Russian Federation, Ukraine, Uzbekistan and Turkmenistan to consumers and corporate customers, employing technology based primarily on Global System for Mobile Communications (GSM). Co. had a mobile subscriber base of around 102.5 million (77.3 million in Russia, 20.4 million in Ukraine, 2.1 million in Turkmenistan, 1.6 million in Uzbekistan and 1.1 million in Armenia). In addition to standard voice services, Co. provides improved services, including voice mail, short message service, general packet radio service, and various SMS- and GPRS-based information and entertainment services.

Purcari Wineries PCL

TBC Bank Joint Stock Co

Wirtualna Polska Holding SA

Wirtualna Polska Holding SA is a Poland-based holding company. The Company owns entities that are engaged in the Internet publishing and broadcasting content, including operating business, technology, sports and entertainment portals, as well as electronic mail (e-mail) and electronic commerce (e-commerce). It also offers a range of advertising products, including display ads. The Company operates through such Internet portals as Wirtualna Polska, o2.pl, Money.pl, WP SportoweFakty, Dobreprogramy.pl, WP Parenting, Domodi and Homebook, among others. The Company operates domestically.

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

Other Reports on these Companies
Other Reports from Wood and Company

ResearchPool Subscriptions

Get the most out of your insights

Get in touch