WOOD Flash – Lukoil: 4Q18E results preview
Lukoil is scheduled to report its 4Q18E IFRS results on 4 March, followed by a conference call on 5 March. We expect a sequential decline in profitability, on the back of a weaker macro environment, but still-robust FCF generation. We will be eagerly looking for the FY19E guidance, particularly around: capex, especially in light of the OPEC+ agreement; the pace of the buyback; details on its downstream operations, especially in respect to the upcoming IMO regulation next year; and its medium-term growth and capex outlooks.
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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