Report
Research Team

WOOD Daily: TPE PW; SNT PW; GEKTERNA GA

HEADLINES:
• Tauron: 4Q25 results fully in line with the preliminaries NEUTRAL
• Tauron: PLN 0.2 DPS recommended POSITIVE
• Synektik: formally completes Syn2Bio spin-off NEUTRAL
• GEK Terna: 2025E results preview (due on 7 April)
Underlyings
Gek Terna

GEK Terna Holding Real Estate Construction is a real estate development group based in Greece. Co.'s main activity is the development and management of investment property, the construction of any kind, the management of self-financed or co-financed projects, the construction and management of energy projects, as well as its participation in companies having similar activities. Co. has a significant and specialized presence in construction, energy as well as in the development, management and exploitation of investment property having a strong capital base. Co. is also active in construction and quarry, the industrial segment, metal constructions, and producing skids from armed concrete.

Synektik

Synektik SA is a Poland-based company active in the medical sector. It produces PACS software which allows running a diagnostic imaging laboratory. It runs a research laboratory which performs acceptance and specialist tests of X-ray equipment. The Company sells medical equipment and operates a services center for imaging equipment. Synektik SA is a partner of Siemens. On November 28, 2013, the Company raised its stake in Miedzynarodowe Centra Medyczne Inwestycje Sp z o o to 100%.

TAURON Polska Energia S.A.

Tauron Polska Energia is engaged in the generation, transmission, distribution, and sale of electricity and heat in Poland. Co. generates electricity from various conventional and renewable energy sources, including hard coal, lignite, natural gas, biomass, wind, solar, and hydro power. It is also involved in quarrying, crushing, and breaking of limestone; quarrying of stone for the construction industry; mining of hard coal; trading in electricity; and production of technical gases. In addition, Co. engages in the repair and maintenance of machinery and electrical equipment; electrical installations; and construction of power lines.

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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