WOOD Flash – Gradus: 3Q20 – another weak quarter, triggered by the epidemic
On Friday (27 November), after the market closed, Gradus reported its 3Q20 results, which were weaker than we forecast. The company’s top line reached BGN 29m, -17% yoy, falling short of our forecast by 22%. Other revenues were down by 12% yoy, to BGN 3.9m, BGN 1.1m below our numbers. The EBITDA came in at BGN 3.9m, -40% yoy and 14% below our expectations. Finally, on the bottom line, Gradus reported BGN 1.5m (-68% yoy/30% below our forecast).
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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