Please find enclosed our daily market report.Market CommentCroatia European industrial production falls in May; Croatia recovers Building permits issued in May up nearly 10% YoY Slovenia NLB raises takeover bid for Addiko by 10% to EUR 22 per share Romania EBRD makes minority equity investment in Arobs Transilvania Software Hidroelectrica’s CIO Bogdan Badea sells RON 133,000 worth of shares Romania's current account deficit widens 34% YoY to EUR 9.17 bln in January-May 2024 ...
AT: AT&S - Read-across from semiconductor reporting short-term negative (negative) AT: OMV - Better than expected Q3 clean earnings, strong operating CF generation, significantly lower net gearing (positive) AT: OMV - Exploring partnership in deliveries for LNG (neutral) AT: OMV - OMV Executive Board will proposed a special dividend of EUR 2.25 (positive) AT: Palfinger - Top line beat in Q3 but earnings in line, turnover target for FY 22 tweaked upwards while EBIT reiterated (neutral) ...
-Top line down, both yoy and compared to our estimates, mainly due to weaker performance on the Croatian market -Termination of the e-Health contract in Belarus as well as pressure on wage growth reflected in profit margins nosedive -The reported figures are yoy down and well below our expectations and we see the negative market reaction as justified
The key change from our previous update relates to cancellation of future deliveries to the Belarusian market, which accounted for 4% of total sales in 2021 TP revised upwards on the back of improved margins and a lower risk-free rate in TV (due to Croatias accession to the euro area). Ericsson NT trades at 15.9x P/E 2023e and 12.7x EV/EBIT 2023e, implying a significant premium above the peers We maintain our REDUCE recommendation with a cum-dividend TP of HRK 1,697
AT: AMAG - Q1 results in line with RBIe but above consensus, major cash drain from NWC, FY 22 EBITDA guidance of > EUR 200 mn heralds (expected) upside to estimates (neutral) AT: Andritz - Record order backlog, in-line results and guidance confirmed (positive) AT: Erste Group - Q1 22 net profit beating expectations / strong core revenues offset by higher opex and weak trading result / guidance for 2022 marginally tweaked upwards / CET1 drop should be only temporary (positive) AT: Oester...
AT: EVN - Q1 21/22 EBITDA in line, net better than expected, EUR 200-240 mn net income guidance confirmed (neutral) AT: IMMOFINANZ - CPI reaches 53.3% stake in IMMOFINANZ (neutral) AT: Rosenbauer - Company intends to increase stake in its American subsidiary (positive) AT: Wienerberger - Divestment of French plastic piping business planned (positive) HR: Ericsson Nikola Tesla - Good performance in Q4 21 at all levels (positive) HR: Hrvatski Telekom - EBITDA margin set to further impr...
A director at Ericsson Nikola Tesla sold 229 shares at 1,670.000HRK and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years c...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
We downgrade the stock from HOLD to REDUCE with the TP at HRK 1,508 (vs. previous HRK 1,367) Bright top line outlook boasted by 5G related investments, but MS revenues deteriorate profit margins We set the DPS estimate for 2020e at HRK 55, implying a dividend yield of 3.7% at current pricing
Strong top line yoy growth on the back of takeover of full scope of managed services for Hrvatski Telekom Profit margins improved despite high share of managed services revenues We rate the results positive and expect further positive top line development in line with 5G momentum and digitalization of society in general
AT: Addiko Bank - 3Q 20 conference call takeaways (positive) AT: Andritz - Final 3Q results in line with preliminaries, Pulp&Paper and Separation key for strong performance (neutral) AT: S&T - 3Q results in line with RCBe, above consensus, guidance raised as expected (positive) AT: Verbund - 3Q results in line, guidance increased more than expected to EUR 1,240-1,300 mn EBITDA, EUR 570-610 mn net (positive) AT: Wienerberger - 3Q results well ahead of RCBe and consensus owing to higher...
The top line came in somewhat lower than we anticipated, due to lower network segment revenues (-33% yoy), while other categories revenues were mainly in line with expectations. The growth driver were managed services revenues for Hrvatski Telekom, which were yoy more than tripled. Marketwise, the realization in Croatian market was 53% yoy lower (excluding the MS revenues), while significant decline of 44% was also recorded in export markets (excl. the internal Ericssons market). One of the reas...
Company Events: (* preview included in the Equity Weekly) Monday, 26/10/2020 RU: X5, 3Q Earnings Release* RU: Mail.Ru Group, 3Q Earnings Release* Tuesday, 27/10/2020 HR: Atlantic Grupa, 3Q Earnings Release* PL: Bank Millennium, 3Q Earnings Release AT: BAWAG Group, 3Q Earnings Release* PL: CCC, 3Q Earnings Release PL: Santander Bank Polska, 3Q Earnings Release Wednesday, 28/10/2020 HR: Ericsson Nikola Tesla, 3Q Earnings Release* RU: Novatek, 3Q Earnings Release* PL: Orange Polska, 3Q Earnin...
AT: IMMOFINANZ - Placement of 7 year, EUR 500 mn bond (neutral) HR: Ericsson Nikola Tesla - Dividend proposal of HRK 49 per share (positive) PL: LPP - 2Q 20 EBIT of PLN 32 mn vs. PLN -40 mn in preliminary release (positive) PL: PGNiG - Recognition of PLN 389 mn impairment related to PGNiG's participation in PGG (negative) CEE Macro Daily
AT: Palfinger - Merger of Cargotec and Konecranes (neutral) HR: Ericsson Nikola Tesla - Contract with HT Mostar for upgrade of 4G/4G+ network (positive) PL: CCC - 2Q 20 EBIT of PLN -232 mn, 3Q 20p EBIT of PLN -8 mn (neutral) PL: CCC - CCC mulls raising PLN 0.4-0.5 bn capital for eobuwie from minority investor (neutral) PL: mBank - OSII buffer to be lowered to 0.5% (neutral) RU: Alrosa - USD 500 mn of state support likely to come in 2021e (positive)
ï‚§ AT: Zumtobel - Cost-driven earnings beat in 1Q (positive) ï‚§ FR: Verallia - CFO Fontaine leaves company at the end of October (neutral) ï‚§ HR: Ericsson Nikola Tesla - Extension of the Managed Services Agreement with Hrvatski Telekom (neutral) ï‚§ PL: PGE - 2Q 20 preliminary earnings negatively impacted by ca. PLN 1.0 bn special items (negative) ï‚§ RO: Electrica, Fondul Proprietatea - Media reports that Electrica, Hidroelectrica and SAPE might have lost the auction for CEZ's Romanian asset...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.