reports
- Łukasz Prokopiuk
- Research Team
DM BOŚ: Daily research report – date 14.07.2020
Headlines Conferences calendar … 2 Large-cap companies news … 3 JSW: Operating figures for 2Q20 revealed Azoty, PuÅ‚awy, Police: 2Q20 results preview PZU: TUW unit goes in line with sales plan PKN Orlen, Lotos: Green light for the merger with Lotos to be granted today? Utilities: URE refuses G-tariff increase Investment funds: Inflows continue in June Banks: Recovery plans to happen more often Banks: Macroprudential authority lower risk weight for corporate exposures Banks: New EU Cou...
- Łukasz Prokopiuk
- Research Team
DM BOŚ: Daily research report – date 7.07.2020
Headlines Conferences calendar … 2 Large-cap companies news … 3 PKN Orlen: Launch of Visbreaking unit project PKN Orlen, PGNiG: Natural gas commodity secured to OstroÅ‚Ä™ka C project? Orange PL: Mr. Julien Ducarroz – a candidate for the CEO position Santander BP: Ansers to questions from AGM Banks: Remote work in the banking sector Banks: Inquries concerning mortgage loans down by 7% yoy Small- and mid-cap companies news … 5 PuÅ‚awy: Mrs. A. Zarzycka-Rzepecka dismissed from management ...
- Sobiesław Pająk
DM BOŚ: Daily research report – date 1.07.2020
Headlines Conferences calendar … 2 Large-cap companies news … 3 PGNiG: US$ 1.5 billion of compensation from Gazprom returned to PGNiG Dino: Agreement with Krot Invest prolonged for a next 5 years period PKN Orlen: 2Q20 publication date changed Lotos: PLN 1.0 per share dividend from FY19 profits accepted by AGM JSW: No dividend from FY19 profits accepted by AGM Pekao: New head of PR PKO BP: Insurance premium expected to grow by 1.5 billion in 5 year business plan Alior: Restructuring pr...
RON RONSON EUROPE
PGN POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA
PKO PKO BANK POLSKI S.A.
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
ZAP ZAKLADY AZOTOWE PULAWY S.A.
JSW JASTRZEBSKA SPOLKA WEGLOWA S.A.
LVC LIVECHAT SOFTWARE SA
IDA IDEA BANK SA
CMP COMP SAFE SUPPORT S.A.
LTS GRUPA LOTOS S.A.
LSI LSI SOFTWARE SA
11B 11 BIT STUDIOS S.A.
BNP BNP PARIBAS BANK POLSKA
DAT DATAWALK SA
ALR ALIOR BANK SA
DNP DINO POLSKA S.A.
- Research Team
DM BOŚ: Daily research report – date 24.06.2020
Headlines Conferences calendar … 2 Large-cap companies news … 3 KGHM: Production and sale volumes for May Orange PL: Social agreement with trade unions signed - basic salary increases in 2020 reduced from 3.5% to 1.0% Dino: PLN 160 million on two new distribution centres PKO BP: Return of early repaid consumer loans PZU: 1H20 financial report to come later Banks: Volume data for May Banks: BIK releases data for May sales of non-banking lenders Banks: April data shows growth in payments...
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
BDX BUDIMEX S.A.
KGH KGHM POLSKA MIEDZ S.A.
TPS ORANGE POLSKA S.A.
ZAP ZAKLADY AZOTOWE PULAWY S.A.
GTC GLOBE TRADE CENTRE S.A.
ASE ASSECO SOUTH EASTERN EUROPE S.A.
KGL KORPORACJA KGL SA
VOT VOTUM S.A.
CLN CELON PHARMA SA
DNP DINO POLSKA S.A.
- Research Team
DM BOŚ: Daily research report – date 8.04.2020
Headlines Large-cap companies news Azoty, PuÅ‚awy, Police: 4Q19 results revealed; Azoty’s adjusted EBITDA broadly in line with expectations, poor results of PuÅ‚awy, very good cash flow triggered by extensive us of factoring Alior: Management on outlook PKN Orlen: No changes in planned capex despite impact of COVID-19, update on acquisitions PGE: 1Q20 results publication date changed PKO BP: 1Q20 financial report to come later Banks: Unified credit vacation offering? Insurers: Impact of ...
PKO PKO BANK POLSKI S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
ZAP ZAKLADY AZOTOWE PULAWY S.A.
CIE CIECH S.A.
GTC GLOBE TRADE CENTRE S.A.
JWC JW CONSTRUCTION HOLDING SA
BAH BRITISH AUTOMOTIVE HOLDING
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
PCE ZAKLADY CHEMICZNE POLICE
ERB ERBUD SA
ATT GRUPA AZOTY SPOLKA AKCYJNA
BLO BLOOBER TEAM SA
ALR ALIOR BANK SA
MRC MERCATOR MEDICAL
PLW PLAYWAY SA
- Łukasz Prokopiuk
Azoty, Puławy, Police: 4Q19 results revealed; Azoty’s adjusted EBIT...
Event: 4Q19 results revealed; Azoty’s adjusted EBITDA broadly in line with expectations, poor results of PuÅ‚awy, very good cash flow triggered by extensive us of factoring. Today before the session Azoty, PuÅ‚awy and Police published its 4Q19 financial report.
- Research Team
DM BOŚ: Daily research report – date 4.03.2020
Headlines Large-cap companies news PKN Orlen: Model margins for February revealed Lotos: Revamping of B3 field Lotos: Management outlook on investment projects LPP: Income tax PGE: FY19 financial report publication date postponed Pekao: Fixed rate mortgage loans to be introduced into offer mBank: Sale to be cancelled? ING BSK: Supervisory member resigns Banks: Raiffeisen to fight annulment of FX contract in court Utilities: New G-tariff motions submitted Small- and mid-cap companies ...
- Research Team
DM BOŚ: Daily research report – date 20.01.2020
Headlines Large-cap companies news Play: 4Q19 results’ forecast + what may be the impact of the upcoming release of management’s FY20 guidance? Dino: 4Q19 results’ forecasts – strong profits expected Azoty, PuÅ‚awy, Police: 4Q19 results preview – poor EBITDA on weak fertilizer volumes Lotos: Refining production slate for December revealed JSW: Operating figures for 4Q19 revealed Alior: Changes in the management board Alior: Management board member on strategy Banks: Delays in CHF mortga...
AGO AGORA S.A.
NET NETIA HOLDINGS S.A.
ZAP ZAKLADY AZOTOWE PULAWY S.A.
DOM DOM DEVELOPMENT SA
BAH BRITISH AUTOMOTIVE HOLDING
JSW JASTRZEBSKA SPOLKA WEGLOWA S.A.
CMP COMP SAFE SUPPORT S.A.
LTS GRUPA LOTOS S.A.
PCE ZAKLADY CHEMICZNE POLICE
ATT GRUPA AZOTY SPOLKA AKCYJNA
MDG MEDICALGORITHMICS SA
ALR ALIOR BANK SA
MRC MERCATOR MEDICAL
PLY PLAY COMMUNICATIONS SA
DNP DINO POLSKA S.A.
TEN TEN SQUARE GAMES
- Łukasz Prokopiuk
- Research Team
Polish Equities Monthly: December 2019; 2020 equity strategy: At a cri...
Polish Equities Monthly: December 2019 2020 equity strategy At a critical junction The US equity market is, in our view, at a crossroads at the moment. Whereas some of the economic leading indicators (UST curve, industrial production, ISM manufacturing PMI, US corporate profit margins), historically doing decent job in signaling stock market peaks, explicitly imply risk of looming change in the cyclical trend in US equities, the other key ones (ISM non-manufacturing PMI, trend in initial jobl...
PEO BANK POLSKA KASA OPIEKI SA
RON RONSON EUROPE
ACP ASSECO POLAND SA
CDR CD PROJEKT S.A.
PGN POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA
PKO PKO BANK POLSKI S.A.
UNI UNIBEP S.A.
FTE FABRYKI MEBLI FORTE SA
BHW BANK HANDLOWY W WARSZAWIE S.A.
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
BSK ING BANK SLASKI S.A.
BDX BUDIMEX S.A.
CMR COMARCH S.A.
RFK FABRYKA KOTLOW RAFAKO S.A.
VRG VRG SA
SNK STOMIL SANOK S.A.
KTY GRUPA KETY SA
KGH KGHM POLSKA MIEDZ S.A.
TPS ORANGE POLSKA S.A.
PND POLNORD S.A.
AGO AGORA S.A.
NET NETIA HOLDINGS S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
LPP LPP S.A.
ZAP ZAKLADY AZOTOWE PULAWY S.A.
NEU NEUCA SA
CCC CCC SA
CIE CIECH S.A.
LEN LENA LIGHTING
GTC GLOBE TRADE CENTRE S.A.
DOM DOM DEVELOPMENT SA
JWC JW CONSTRUCTION HOLDING SA
ASB ASBISC ENTERPRISES
ABS ASSECO BUSINESS SOLUTIONS
BAH BRITISH AUTOMOTIVE HOLDING
ASE ASSECO SOUTH EASTERN EUROPE S.A.
LWB LUBELSKI WEGIEL BOGDANKA S.A.
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
JSW JASTRZEBSKA SPOLKA WEGLOWA S.A.
LVC LIVECHAT SOFTWARE SA
CAR INTER CARS S.A.
CMP COMP SAFE SUPPORT S.A.
EUR EUROCASH S.A.
LTS GRUPA LOTOS S.A.
DCR DECORA
PCE ZAKLADY CHEMICZNE POLICE
OEX OEX SA
ECH ECHO INVESTMENT
FMF FAMUR SA
ABE AB SA
LSI LSI SOFTWARE SA
ETL EUROTEL SA
ERB ERBUD SA
MCR MERCOR SA
CIA CI GAMES SA
TRK TRAKCJA POLSKA SA
CPS CYFROWY POLSAT SA
ATT GRUPA AZOTY SPOLKA AKCYJNA
VIN GIELDA PRAW MAJATKOWYCH VINDEXUS S.A.
ATC ARCTIC PAPER SA
FRO FERRO S.A.
11B 11 BIT STUDIOS S.A.
TPE TAURON POLSKA ENERGIA S.A.
VOX VOXEL SA
MDG MEDICALGORITHMICS SA
ALR ALIOR BANK SA
PCR PCC ROKITA SA
MRC MERCATOR MEDICAL
KGL KORPORACJA KGL SA
PLY PLAY COMMUNICATIONS SA
TOW TOWER INVESTMENTS SA
CLN CELON PHARMA SA
DNP DINO POLSKA S.A.
BSC BSC DRUKARNIA OPAKOWAN S.A.
PLW PLAYWAY SA
TOA TOYA SA
TEN TEN SQUARE GAMES
UNT UNIMOT SA
ENE CENTRUM MEDYCZNE ENEL-MED SA
MVP MARVIPOL DEVELOPMENT SA
- Jakub Viscardi
- Łukasz Prokopiuk
- Maciej Wewiórski
- Michał Sobolewski
- Sobiesław Pająk
- Sylwia Jaśkiewicz
- Tomasz Rodak
- Wojciech Romanowski
DM BOŚ: Daily research report – date 21.11.2019
Headlines Large-cap companies news Asseco Poland: (i) 3Q19 results released – ahead of expectations (strong subs, weak parent), (ii) backlog KGHM: 3Q19 results revealed; Results slightly ahead of market consensus, weak operating cash flow, leverage continues to increase Alior: Management on outlook Alior: BFG subsidy for SKOK Jaworzno takeover PGE: 60 MW photovoltaic farm in BeÅ‚chatów Banks: Press on FX mortgage buffers Banks: Industry insiders on MREL CD Projekt: 3Q19 results forecast...
CDR CD PROJEKT S.A.
UNI UNIBEP S.A.
KGH KGHM POLSKA MIEDZ S.A.
GTN GETIN HOLDING
ZAP ZAKLADY AZOTOWE PULAWY S.A.
ASB ASBISC ENTERPRISES
LWB LUBELSKI WEGIEL BOGDANKA S.A.
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
IDA IDEA BANK SA
FMF FAMUR SA
MCR MERCOR SA
VIN GIELDA PRAW MAJATKOWYCH VINDEXUS S.A.
ALR ALIOR BANK SA
- Łukasz Prokopiuk
Puławy – 3Q19E results’ preview
We remain positive towards the equities of PuÅ‚awy (Buy, Overweight, 12M EFV of PLN 176.5 per share). The Company’s equities have become ridiculously cheap, in our view. Based on our estimates the Company’s adjusted EBITDA in 2019 is likely to reach an astonishing PLN 0.8 billion vs. PLN 0.3 billion recorded in 2018 and even despite such expected strong EBITDA performance the Company’s equities are still at a comparable price level as a year ago. While we do see the risks associated with margin ...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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