WOOD Flash – Colt CZ Group: thoughts on the 4Q22 earnings beat and FY23 guidance
Yesterday (23 March), before the Prague market opened, Colt CZ reported its preliminary FY22 results, released its FY23 guidance, and later hosted a midday earnings call. The reported FY22 and 4Q22 figures posted a strong beat, driven mainly by an improved operational performance, supported by higher FX derivatives gains than expected. Reported 4Q22 revenues and EBITDA were c.5% above consensus, while the reported 4Q22 net income of CZK 706m represented an 83% beat vs. the Street and was well above our CZK 244m estimate. Management has proposed a FY22 dividend of CZK 30/share, payable either in cash or, optionally, in newly-issued shares, subject to AGM approval. The stock closed the day +1.0% up vs. the main Prague PX index, which was down 1.3%.
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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