Two Directors at Wizz Air Holdings bought 8,243 shares at between 1,206p and 1,206p. The significance rating of the trade was 52/100. 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 las...
HEADLINES: • Wizz Air: 4Q FY25 – core numbers in line with our estimates, but weaker than the consensus • CEZ: KHNP, government and CEZ sign EDU II deal POSITIVE • Poland macro: NBP on hold • Jumbo: May sales growth picks up speed to a strong 12%; declares EUR 0.50/share dividend POSITIVE • Titan: signs MOA with Carbon Upcycling to develop low-carbon construction materials POSITIVE • PCF Group: decision to reduce project Bifrost development team • Mavi: 1Q25E earnings preview (due on 10 June)
EME Equity Market – May 2025 EME indices mostly in the green in May, apart from Türkiye. The MSCI EM Europe Index added 3.6% mom in EUR and USD terms. The Greek ASE index (+7.8% mom) was the best performer, followed by the Czech PX (+6.6% mom) and Romanian BET indices (+5.0% mom), the Hungarian BUX (+4.0% mom) and the Polish WIG20 (+2.0% mom; all in EUR terms). The Turkish ISE30 Index was, again, the worst performer, with a more modest decline (-1.4% mom in EUR terms) this time.
HEADLINES: • Middle Eastern oil services: time to switch horses (ADNOC Drilling downgraded to HOLD, Arabian Drilling upgraded to BUY) • Poland macro: Presidential election – final results and implications • 4iG: 1Q25 results review – 11% yoy increase in reported EBITDA, in line with our estimate NEUTRAL • GTC: 1Q25 – some notes, post the results • PCF Group: suspension of development works on Gemini and Bifrost, over 60 people to be laid off NEGATIVE • OMV: to sell stake in Ghasha sour gas proje...
Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: Gearing-up for acquisitions? – 1Q25 production was 4,085 boe/d with no horizontal wells drilled in the period. RCE is more mature than CN and while no drilling has taken place at RCE, the decline rate between 4Q24 and 1Q25 was only ~5%. 1Q25 Production was constrained by increased water production preventing the company increasing the speed of the pumps at some of its producing wells. The increased amount of produced water increase...
HEADLINES: • Polish food retail: turning the corner (initiating on Zabka with a BUY, Eurocash and Jeronimo stay BUY, Dino stays SELL) • Benefit Systems: 1Q25 adjusted EBIT up 14% yoy, 10% above our forecast POSITIVE • Grupa Pracuj: 1Q25 results – adjusted EBITDA up 11% yoy, in line with our forecast, 4% above the consensus POSITIVE • Wirtualna Polska: 1Q25 results review – adjusted EBITDA up 2% yoy, 2% above the consensus NEUTRAL • Athens Exchange Group: 1Q25 results in line with expectations NE...
HEADLINES: • Mo-BRUK: 1Q25 EBITDA 7% below our forecast, but a substantial 24% miss vs. the consensus NEGATIVE • Doosan Skoda Power: weak 1Q25 – EBITDA down 70% yoy NEGATIVE • Cyfrowy Polsat: 1Q25 results review – adjusted EBITDA up 5% yoy, in line with the consensus NEUTRAL • Cyfrowy Polsat: Liechtenstein court dismisses Zygmunt Solorz's lawsuit against his children POSITIVE • Pepco Group: 1H25 slightly below expectations on worsening Poundland; lfl improvement at Pepco; another EUR 234m impair...
OMV reported a clean CCS EBIT of EUR 1,160 mn in Q1 2025, down 16% quarter-on-quarter and 22% year-on-year, missing the market consensus of EUR 1,232 mn. The shortfall was primarily driven by the continued weak performance of the refining segment, which also disappointed significantly in Q4.
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