WOOD Flash – Kazatomprom: 4Q21 operating update
Today (27 January), Kazatomprom released its operating update and provided its guidance for 2022E. We view this update as negative. The company has guided for 3-4% lower production this year relative to 2021. Sales volumes are guided to remain flat yoy, due to an expected decline in inventories. Another negative point is that realised prices in 4Q were 22.2% lower than market prices. Management has explicitly highlighted the risks of higher taxes and social payments in the future.
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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