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....
A director at Agora S.A. bought 17,400 shares at 6.980PLN and the significance rating of the trade was 53/100. 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 clearly sho...
ï‚§ AT: Addiko Bank - Advent continues to reduce the stake in the bank (neutral) ï‚§ AT: AT&S - Apple reports flat revenues, gives no outlook (negative) ï‚§ AT: S&T - New 2020e guidance in line with RCBe: Sales +3% yoy to EUR 1,150 mn, EBITDA of EUR 115 mn (neutral) ï‚§ AT: Verbund - NASA Earth Observatory data also suggests drought in Germany in summer 2020 (negative) ï‚§ HR: Ericsson Nikola Tesla - No dividend for the 2019 (negative) ï‚§ HR: Podravka - Double-digit growth on all lines in 1Q, ...
ï‚§ AT: Austria - FMA extends short-selling ban by one month ï‚§ AT: AT&S - Apple to launch new iPhone SE at the end of April (neutral) ï‚§ AT: Flughafen Wien - Strategic decisions for home carrier Austrian Airlines to be made by early May (neutral) ï‚§ AT: UNIQA - FY 19 annual report and capital position presentation (neutral) ï‚§ AT: Warimpex - Postpones AGM, no new date (neutral) ï‚§ HU: Gedeon Richter - Cancellation of AGM (neutral) ï‚§ PL: Agora - Estimates savings from 20% salary cut for 6...
We revise our outlook on Agora to account for the negative impact of the coronavirus epidemic on the Company's earnings prospects. Our current base-case scenario assumes that Agora will generate an EBITDA loss of PLN 23m in FY2020 after experiencing a plunge in revenues from the cinema business, combined with falling revenues from advertising. When it comes to the balance-sheet position, Agora is on stable footing with FY2019 year-end net debt of PLN 157m, net fixed assets of PLN 460m, and a 40%...
Headlines Large-cap companies news Tauron: Contract with PGG to be renegotiated PZU: Ratings outlook dropped to stable ING BSK: Fitch upgrades ratings Kruk: 1Q20 financial report to be released later Banks: Banks tighten lending policies Banks: Demand for mortgage loans Banks: Data for penetration of mobile banking Banks: Press on tightening of lending policies Banks: Leasing slows down Small- and mid-cap companies news Erbud: 4Q19 results released. Ronson: Strong 1Q20 pre-sales. I...
ï‚§ AT: AT&S - Samsung's 1Q 20 guidance shows strengthening memory chip pricing outpacing first covid-effects (neutral) ï‚§ AT: Austria - Austria will ease Covid-19 restrictions starting next week (positive) ï‚§ AT: IMMOFINANZ - Posponement of AGM to October 1 (neutral) ï‚§ FR: Verallia - Company provided update on Covid-19 framework and withdraws FY 20 guidance (neutral) ï‚§ PL: Agora - Starts group layoffs in Goldenline, intends to cut salaries by 20% for six months (neutral) ï‚§ PL: PGE/Enea ...
Headlines Large-cap companies news PKO BP: CEO on outlook Eurocash: Azvalor below 5% threshold Eurocash: 2,000 of new employees needed Banks: Cards payment data show extent of decline in consumer outlays Banks: Credit vacations models. Asset management: Outflows to moderate in the near-term Small- and mid-cap companies news Ten Square Games: 1Q20 preliminary bookings revealed; 1Q20 results forecast Famur: Management on impact of COVID-19 Unibep: Takeaways from the FY19 results video c...
ï‚§ AT: IMMOFINANZ, S IMMO - Plans to restart merger talks moved to after Covid-19 crisis (neutral) ï‚§ AT: Vienna Insurance Group - Postponement of AGM, no new date announced yet (neutral) ï‚§ HU: Gedeon Richter - New partnership with Myovant to strengthen Richter's position in women's healthcare segment (positive) ï‚§ PL: Agora - Agora suspends negotiations for new financing, focuses on prolonging current financing until the end of the pandemic (neutral) ï‚§ PL: Banks - Suffering decline in ne...
The coronavirus crisis also affects companies' dividend payments, first, due to AGMs being postponed and foremost due to the economic turmoil, potential regulatory intervention and cash restraints. Below we present an overview of the biggest dividend risks and potential timelines for AGMs and subsequent 2019 dividend pay-outs in our Coverage universe. Dividend risks We clearly see the highest risk for dividends in the banking sector as many regulators have already issued recommendations to su...
Headlines Large-cap companies news PKO BP: Management on impact of the epidemic PKN Orlen: Fuel sales halved in the last weeks? JSW: Shortened time shifts to limit possible spreading of coronavirus JSW: Focus on sale intensification and operational and cost effectiveness Cyfrowy Polsat: Exclusivity to negotiate under the sale process of Interia LPP: Insider buying ING BSK: BFG confirms MREL targets Millennium: AGM voted on Friday Millennium: Three month credit vacation for customers B...
We have developed a speedy test for the companies under coverage to capture their risk profiles in the current environment Scorecard based on - Industry risk - Revenue resilience - Margin resilience - Debt level - Refinancing risk - CAPEX flexibility Last week we collected feedback from companies to assess the impact from COVID-19 with the focus on China and other hotspots (especially Italy). By now, the framework has changed dramatically, and the half-life of recent scenarios seems to equal t...
ï‚§ AT: Government provides EUR 4 bn to support economy (positive) ï‚§ HR: Valamar Riviera - Temporarily closure of hotels (neutral) ï‚§ HU: Gedeon Richter - European authorities started review of Esmya (neutral) ï‚§ HU: Wizz Air - Polish travel ban forces Wizz Air to cancel all Polish flights, 20% of total capacity (negative) ï‚§ PL: Agora - Feedback from 4Q 19 results conference, only small costs related to cinemas shutdown (positive) ï‚§ PL: Bank Pekao - Exposure to risky sectors at ca. 2% of...
Headlines Large-cap companies news Eurocash: Management outlook Dino: Management outlook LPP, CCC, VRG: Assessment of the impact of COVID19 PGE: PLN 7.1 billion impairments PKO BP: Branch in Slovakia to be launched soon PKO BP: Insider buying PKO BP: Supervisory board on the watchdog recommendation PZU: New CEO on dividends Kruk: CEO on pandemic impact Millennium: Insider buying ING BSK: Supervisory board member candidature. Banks: Pandemic effect on banking branch closures Banks: ...
ï‚§ AT: Andritz - Andritz asked shareholders to vote by proxy in March 25 AGM (neutral) ï‚§ AT: Flughafen Wien - Profit warning and preparations for a 70% reduction of passengers (negative) ï‚§ HR: Hrvatski Telekom - Proposed dividend of HRK 8.00 per share (neutral) ï‚§ PL/AT: Consumer/Atrium - Polish government to discuss closing of shopping malls (negative) ï‚§ PL: Agora - 4Q 19 results above expectations (positive) ï‚§ PL: Cyfrowy Polsat - Highlights from 4Q 19 results conference (neutral) ï‚...
Headlines Large-cap companies news Dino: 4Q19 results released – profit lines in line with the expectations, strong OCF, yoy gross profit margin dilution Eurocash: 4Q19 results released – EBITDA excl. IFRS 16 slightly ahead of expectations, weaker yoy OCF Cyfrowy Polsat: Management outlook Lotos: Coker unit fully utilized currently? Lotos: Capex guidance PKN Orlen: Production of disinfection fluids PKO BP: Bank on individual recommendation for 50% profit retention PZU: Change at CEO and...
Company Events: (* preview included in the Equity Weekly) Friday, 13/03/2020 PL: Agora, 4Q Earnings Release* PL: Dino, Annual report publication* PL: Eurocash, Annual report publication Monday, 16/03/2020 RU: Magnit, 4Q Earnings Release* Tuesday, 17/03/2020 AT: Mayr-Melnhof, 4Q Earnings Release* CZ: CEZ, 4Q Earnings Release* RU: Enel Russia, 4Q Earnings Release* AT: Vienna Insurance Group, 4Q Preliminary results* Wednesday, 18/03/2020 AT: Palfinger, AGM AT: SBO, 4Q Earnings Release AT: V...
ï‚§ AT: Flughafen Wien - Airlines cut capacities further (negative) ï‚§ AT: Lenzing - 4Q 19 results and negative 2020e guidance in line, 2024e EBITDA guidance of EUR 800 mn way above expectations (neutral) ï‚§ AT: Oesterreichische Post - Slightly better than expected operating performance, DPS 2.08 (positive) ï‚§ AT: OMV - Supervisory Board approved acquisition of additional stake in Borealis for USD 4.7 bn (neutral) ï‚§ AT: OMV, Verbund - Verbund evaluates a potential acquisition of OMV's stake...
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