HEADLINES: • Bank Pekao: strong 4Q25 delivery bodes well for 2026E outlook POSITIVE • Orlen: 4Q25 results – strong underlying EBITDA POSITIVE • Kruk: buys material portfolio in Italy – very strong start to 2026E in terms of investments scale POSITIVE • Orange Polska: key takeaways from the 4Q25 earnings call NEUTRAL • Mo-BRUK: signs PLN 7.5m contract NEUTRAL • CD Projekt: 4Q25E preview – EBITDA to decline by 48% qoq (due on 19 March) • GEK Terna: EUR 1.1bn planned Vrochonera HPS project secures ...
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