1Q17 results – weaker quarter, but outlook remains strong
Forte held a conference call today, after the release of its 1Q17 results. The company presented a strong outlook for 2Q17E, as volumes have started to recover, following the slight decline seen in 1Q17, which was the result of price pressure from clients’, as they lowered their orders temporarily to try to enforce price cuts. However, Forte claims that it resisted this pressure, with clients forced to increase their orders in 2Q17 at flat prices. The company has also disclosed that wooden panel prices are getting higher, and are likely to keep growing. However, this is not negative for Forte, as it orders them at fixed prices (but it is positive for wooden panel producers, like Pfleiderer). Forte has also disclosed that all its investments are on track with its schedule, and its wooden panel plant should be completed in the winter this year.Fortescue Metals Group is an iron ore producer. As of June 30 2016, Co.'s operations had four mine sites in the Pilbara. The Chichester Hub, which includes the Cloudbreak and Christmas Creek mines, is located in the Chichester Ranges and the Solomon Hub, in the Hamersley Ranges, includes the Firetail and Kings Valley mines. Co. owns and operates an integrated supply chain including its Herb Elliott Port in Port Hedland and a heavy haul railway with over 620km of track. As of June 30 2016, Co.'s total hematite ore proved and probable reserves were 2.17 billion tonnes. Also, as of June 30 2016, Co.'s total magnetite ore proved and probable reserves were 705.0 million tonnes.
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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