Report
Research Team

WOOD Daily: HU Macro; MBK PW; ISCTR TI; RICHT HB; PETKM TI; INPST NA; EBS AV; WPL PW; ELPE GA; COTE RO; TEL RO; TGN RO; EL RO

HEADLINES:
• Hungary macro: a deep downturn in the making for next year
• mBank: 3Q22 - massive loss, as expected, but underlying earnings stronger than expected at the peak POSITIVE
• Isbank: 3Q22 highlights - no surprises, cost control still a problem
• Richter: strong 3Q on OCs, Russia/CIS and FX revaluation POSITIVE
• Petkim: 3Q22 results - EBITDA weaker than expected
• InPost: DHL announces launching parcel machines in Poland NEGATIVE
• Erste Bank: announces planned purchase of Sberbank's active loan portfolio in the Czech Republic
• Wirtualna Polska: acquires Mediapop for PLN 28m NEUTRAL
• Wirtualna Polska: real users in October 2022 NEUTRAL
• Helleniq Energy: 3Q22E results preview (due on 10 November)
• Conpet: 3Q22E results preview - 8% yoy increase in net profit expected (due on 14 November)
• Transelectrica: 3Q22E results preview - jump in profit from accounting change (due on 14 November)
• Transgaz: 3Q22E results preview (due 14 November)
• Electrica: 3Q22E results preview - jump in profitability from accounting change (due on 15 November)
• Short News (TEN, RO Energy)
Underlyings
C.N.T.E.E. Transelectrica

Conpet SA

Erste Group Bank AG

Erste Group is a financial services provider based in Austria. As of Dec 31 2015, Co.'s total assets amounted to Euro199,743 million and the number of customers was approximately 16.5 million. Co.'s key business is the retail business, covering the entire spectrum from lending, deposit and investment products to current accounts and credit cards. In addition to providing financial services to private individuals, Co.'s core activities also include advisory services and support for corporate clients in financing, investment and access to international capital markets, public sector funding and interbank market operations.

InPost S.A.

MBANK SA

mBank is a provider of comprehensive corporate banking services in Poland. Co. and its subsidiaries make up the mBank Group which is engaged in offering financial services. Co.'s service offering includes a comprehensive financial offer tailored to the needs of corporate clients, Private Banking clients, and retail clients. The business activities of Co. is conducted in the following business segments: Retail Banking and Corporates and Markets.

Petkim Petrokimya Holding AS

Societatea Energetica Electrica

Societatea Nationala de Transport Gaze Naturale Transgaz S.A.

Turkiye Is Bankasi Anonim Sirketi Class C

Turkiye Is Bankasi is a commercial banking group based in Turkey Co. is engaged in the provision of private, retail, commercial and corporate banking, money market and securities market operations as well as international banking services. Co. provides services to corporations, SMEs and other trading companies (excluding real trading persons) within the course of its corporate and commercial operations. Co. is organized into two main business segments: Banking segment, which includes corporate, retail and private banking, as well as treasury; and non-banking operations, which are followed according to insurance, ‘investment and finance' and ‘manufacturing and trading' segments.

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

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