WOOD Daily: Russian Technology (YNDX US, HHR US, OZON US, QIWI US stay BUY; VKCO LI upgraded to BUY), OTKAR TI, NLBR SV, OGZD LI, ROSN LI, MGNT LI, EL RO, FMF PW, EU macro, Previews
HEADLINES:• Russian Technology: fortune favours the brave (Yandex, HeadHunter, Ozon and QIWI stay BUY; VK upgraded to BUY)
• Otokar: 4Q21 results - strong top-down beat, led by the defence segment POSITIVE
• NLB Group: new SREP requirements
• Gazprom: signs a 10bcm supply contract with China POSITIVE
• Rosneft: to supply 10mt to China via Kazakhstan POSITIVE
• Magnit: 4Q21 conference call - key takeaways NEUTRAL
• Electrica: Oltchim's final table of debts shows a lower level of claims for Electrica NEUTRAL
• Famur: wins a PLN 40m contract POSITIVE
• Europe macro: ECB - preparing gradually for a hawkish pivot
• Transelectrica: 4Q21E results preview - steep loss expected (due out on 15 February) NEUTRAL
• Magyar Telekom: 4Q21E results preview - 5% yoy EBITDA growth expected (due out on 23 February)
• Rostelecom: 4Q21E results preview - 6% yoy growth in OIBDA expected (due out on 4 March)
• Short News (OPL)
FAMUR SA is a Poland-based manufacturer of mining equipment and machinery. The main area of the Company's operations is manufacture of automated longwall systems enabling the exploitation of coal. The Company also specializes in design and production of equipment for underground mines and open pits, as well as bulk material handling equipment and machines for coal preparation plants. The Company's products portfolio includes electric and hydraulic shearers, roof support, hydraulic control system, conveyors and crushers. FAMUR SA is also engaged in the development of information technology solutions and management system for coal industry. The Company operates through subsidiaries, based in Poland, Germany and the Russian Federation. The Company's major shareholder was TDJ SA, with a stake 71.28%. On November 27, 2014 the Company acquired 76,69% of stake in FAMAK SA.
Mail.Ru Group is an Internet company based in the Russian Federation. Co. operates the email service [email protected] and two IM networks in Russia - Mail.Ru Agent and ICQ. Co. operates two Russian-language online social networking sites: Moi [email protected] and Odnoklassniki.ru, and owns a strategic minority equity stake in the social network Vkontakte. Co. is also engaged in developing projects in E-commerce and operating more than 40 thematic vertical sites, targeting various user categories. Co. is also Russia's predominant online games company. Co. maintains a portfolio of online games which includes 34 MMO games and over 30 games for social networking sites.
Otokar Otomotive Ve Savunma Sanavi is engaged in the import, manufacture, assembly, sale and export of bodies, engines, and all other components of all kinds of land, sea and air defense vehicles, as well as security vehicles, commercial buses, trucks, minibuses, midibuses, panel vans, cross-country vehicles, etc. Co.'s primary focus is on the production of Land Rover 4x4 and minibuses.
Yandex is an internet and technology company that operates an internet search engine in Russia. Co. builds intelligent products and services powered by machine learning. Co.'s products and services are based on complex, unique technologies that are not easily replicated. Co. generates substantially all of its revenues from online advertising. Co. also generates revenues from its e-commerce offerings, classifieds and e-hailing service. Co.'s businesses are organized in the following operating segments: Search and Portal; E-commerce; Taxi; Classifieds and Experimental businesses.
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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