4Q16 results – 3-2-1, we have lift off
Romgaz announced its 4Q16 results yesterday, beating both our and the consensus expectations dramatically. Sales revenues came in 5% above both our and the consensus expectations, whilst net profit was 62% above our forecast and 23% above the consensus estimates. We believe this increases the chances of a dividend. However, the net profit was boosted by the reversal of a previous write-off, while the EBITDA was 14% above the consensus, but 16% below our expectations.
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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