WOOD Morning (7 February)
HEADLINES:* OPAP: tailwinds continuing (stays BUY)
* Moneta Money Bank: solid 4Q17 results and 2018-20E guidance; 27% total dividend yield in three years POSITIVE
* Raiffeisen Int.: 4Q17 - preliminary 2017E in line with expectations NEUTRAL
* MMK: 4Q17 financial results EBITDA and net income beat consensus, but FCF weaker than expected
* Romgaz/OMV Petrom: Romania - Hungary gas deal POSITIVE
* Czech Republic macro: new Czech bond yield forecasts
* EME Strategy: MSCI February 2018 QIR rebalancing predictions
* Mytilineos: annual meeting with CEO POSITIVE
* Unipetrol: PKN increases its stake above 90% NEUTRAL
* Polish gencos: government reportedly talking sector consolidation again NEUTRAL
* Orange Polska: purchases part of Nettelkom fibre network, covering 14.8k locations NEUTRAL
* Richter: weak 4Q net on FX losses and taxes (due on 12 February)
* Transelectrica: 4Q17E results preview (due on 15 February)
* Electrica: 4Q17E results preview (due on 15 March)
* Short News (ENG)
Orange Polska SA is a supplier of telecommunications services in Poland. Co. provides services, including fixed-line telecommunication services, Integrated Services Digital Network, voice mail, dial-up and fixed access to the Internet and Voice over Internet Protocol. Co. is one of Poland's three DCS 1800 and GSM 900 mobile telecommunications providers. Co. provides also third generation UMTS services. In addition, Co. provides leased lines, radio-communications and other telecommunications value added services, sells telecommunications equipment, produces electronic phone cards and provides data transmission, telephone directories, multimedia services and various Internet services.
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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