WOOD Flash – MMK: 2Q18 trading update
MMK has just released its 2Q18 trading update. Sales volumes and prices were broadly unchanged qoq in the steel business, but the large increase in coal mining volumes (+53% qoq) was a positive, in our view, after the weak 1Q18. This suggests to us that MMK’s plan to add 1.5mt to coal mining volumes this year remains achievable. We see this result as neutral for the share price.
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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