ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 08/20/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 20/08/2025

Romgaz : The post-election rally has run out of steam and is no longer...

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 08/19/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 19/08/2025

Digi Communications : Few catalysts materialised, while execution risk...

Credit Morning 08/18/2025

Kantar: slowdown is confirmed in H1 2025 but EBITDA remains up thanks to mix effects|

Morning Crédit 18/08/2025

Kantar : le ralentissement se confirme au S1 2025, mais l’EBITDA reste en hausse grâce au mix|

WOOD Daily: CGEO LN; BIMAS TI; SOKM TI; KLKIM TI; AQ RO; SNG RO; RO Ma...

HEADLINES: • Georgia Capital: multi-sector story (BUY - transfer of coverage) • BIM: solid operating results overshadowed by bottom-line miss in 2Q25 NEUTRAL • Sok Marketler Ticaret: bottom line misses expectations in 2Q25 NEGATIVE • Kalekim: 2Q25 – strong set of results POSITIVE • Aquila Part Prod Com S.A.: 2Q25 – eyeing +6% EBITDA margin for 2H25E POSITIVE • Romgaz: 2Q25 results – better than our forecasts POSITIVE • Romania macro: GDP heading into a tough 2H • DIGI Communications: key takeawa...

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Bite, Digi Communications, Hapag-Lloyd, Borr Drilling, Motel One, Vedanta Resources

Digi (Underweight) Q2 25: Some concerns on KPIs, Portugal fibre roll (...

Digi has reported a disappointing set of results with slower RGU adds in Portugal and Belgium than in Q1, weak ARPU in Spain, and seemed to push out the timetable for the Portugal fibre roll on the call.

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 08/14/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 14/08/2025

Digi Communications : Activation of new businesses starts to weigh on ...

Romgaz : Q2 net earnings below our estimates on weaker contribution of...

WOOD Daily: NLBR SV; DIGI RO; DOC AV; PL Macro; PL Banks; MBR PW; CEZ ...

HEADLINES: • NLB Group: still cheap, despite the rally (stays BUY) • DIGI Communications: 2Q25 results – adjusted EBITDA down 1% yoy, 2% below our estimate NEGATIVE • DO & CO: 1Q FY26 results above our expectations POSITIVE • Poland macro: GDP growth steady in 2Q • Polish banks: tax on obligatory reserve remuneration may be announced in the coming weeks NEGATIVE • Mo-BRUK: consortium with MBR signs PLN 30m “eco bomb” contract POSITIVE • CEZ: E.ON negotiating, reportedly, with CEZ on the sale of ...

WOOD Daily: ACP PW; PKO PW; ESLT IT; MGROS TI; PGSUS TI; LOGO TI; IGN1...

HEADLINES: • Asseco Poland: unjustifiably expensive (downgraded to SELL) • PKO BP: very solid 2Q25; our ambitious forecasts seem achievable; market valuation appears to be pricing it in NEUTRAL • Elbit Systems: 2Q25 results – strong operating performance and a big contract win in Europe • Migros: 2Q25 results – bottom line misses expectations NEGATIVE • Pegasus Airlines: 2Q25 – weaker margins yoy, as expected • Logo Yazilim: 2Q25 results – in line; FY25E guidance reiterated NEUTRAL • Ignitis Gro...

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Bite, Sasol, Digi Communications, Hapag-Lloyd, Solenis

Model Portfolio Update - Inclusion of Astor, Exclusion of Aselsan and ...

Astor is Turkey’s largest and most profitable transformer and switchgear producer, with 31% revenue CAGR in 2019–24 and best-in-class margins supported by vertical integration and long-standing ties to TEIAS, distribution companies, and industrial clients. Capacity expansions from 4Q25, including new transformer lines, conductor production, and a switchgear plant, are set to boost production, underpinning our forecast of 9.8% revenue CAGR and 30% average EBITDA margin in 2025–34. Global transfor...

Petrom beats expectations, lifted by one-off litigation gain

• The company reported clean CCS operating profit of RON 1,188 mn, representing a 6% decline QoQ and a 14% decline YoY. However, it outperformed the consensus estimate of RON 1,111 mn, exceeding it by 7%, mainly due to stronger-than-expected performance in the E&P segment. The results were significantly boosted by a one-off litigation settlement, which increased EBITDA and EBIT by RON 200 mn. The outperformance was even more pronounced at the net profit level, further supported by RON 170 mn in ...