View 
FILTERS (0)
* Not connected to ResearchPool

MORE FILTERS

  
reports
Research Team
  • Research Team

The Rear-View Mirror – EME markets: EME indices mostly in the red in A...

EME Equity Market – April 2025 EME indices mostly in the red in April, Hungarian BUX and Greek ASE the exceptions. The MSCI EM Europe Index declined by 2.0% mom in EUR terms, but was up 2.9% mom in USD terms in April. The Hungarian BUX was the best performer, followed by the Greek ASE index (+3.5% and 0.8% mom in EUR terms, respectively). There was a slight decline in the Polish WIG20, and more pronounced deteriorations in the Romanian BET and Czech PX indices (-0.6%, -2.0% and -4.2% mom in EUR ...

GARAN TURKIYE GARANTI BANKASI ANONIM SIRKETI
PEO BANK POLSKA KASA OPIEKI SA
JMT JERONIMO MARTINS SGPS S.A.
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
KRU KRUK S.A.
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
KRKG KRKA D.D.
YKBNK YAPI VE KREDI BANKASI A.S.
OMV OMV AG
ISCTR TURKIYE IS BANKASI ANONIM SIRKETI CLASS C
KOMB KOMERCNI BANKA A.S.
TITK TITAN CEMENT CO. SA
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
BDX BUDIMEX S.A.
GEKTERNA GEK TERNA
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
KTY GRUPA KETY SA
DOC DO & CO AKTIENGESELLSCHAFT
TPS ORANGE POLSKA S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
MYTIL MYTILINEOS S.A.
LPP LPP S.A.
AKBNK AKBANK TAS
AKCNS AKCANSA CIMENTO
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
CIMSA CIMENTO SANYAI VE TICARET A.S.
CCC CCC SA
AEGN AEGEAN AIRLINES SA
ENA ENEA S.A.
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
TKNSA TEKNOSA IC VE DIS TICARET AS
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
APR AUTO PARTNER SA
LVC LIVECHAT SOFTWARE SA
PPC PUBLIC POWER CORPORATION S.A.
OTP OTP BANK NYRT
CAR INTER CARS S.A.
ARCLK ARCELIK A.S.
FROTO FORD OTOMOTIV SANAYI A.S.
OTKAR OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.S.
THYAO TURK HAVA YOLLARI A.O.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
CPS CYFROWY POLSAT SA
MBR MO-BRUK S.A.
GPW WARSAW STOCK EXCHANGE
11B 11 BIT STUDIOS S.A.
TPE TAURON POLSKA ENERGIA S.A.
ALR ALIOR BANK SA
OTOEL AUTOHELLAS S.A.
VGO VIGO SYSTEM SA
WPL WIRTUALNA POLSKA HOLDING SA
SAB1L SIAULIU BANKAS
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
MONET MONETA MONEY BANK AS
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
SNP PETROM S.A.
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
DNP DINO POLSKA S.A.
RICHT RICHTER
MAVI MAVI GIYIM SANAYI VE TICARET A.S.
MCOV B MEDICOVER AB
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
CZG CESKA ZBROJOVKA GROUP
INPST INPOST S.A.
PCF PCF GROUP SA
HUGE HUUUGE
7202 ARABIAN INTERNET & COMMUNICATIONS SERVICES CO
4071 ARABIAN CONTRACTING SERVICES CO
BOROUGE BOROUGE
7203 ELM CO
TRESTATES TRADE ESTATES REIC SA
THEON THEON INTERNATIONAL PLC
GEV GEVORKYAN A.S.
BOCHGR BANK OF CYPRUS
DSPW DOOSAN SKODA POWER A.S.
DIAG DIAGNOSTYKA SA
Research Team
  • Research Team

WOOD Daily: PEO PW; KOMB CP; EBS AV; MBK PW; SPL PW; CCC PW; PCF PW; C...

HEADLINES: • Bank Pekao: very solid 1Q25, supporting our 2025E 20%+ ROE, trading at 1.3x BV and a 9%+ yield very attractive • Komercni Banka: beat on 1Q25 bottom line driven by LLPs releases, pre-provision profit falls short of expectations NEUTRAL • Erste Bank: 1Q25 results in line; 2025E ROTE guidance sustained, but market focus on potential big M&A effort • mBank: 1Q25 solid, but valuation reflects recovery already; 2025E revenue guidance a little disappointing • Santander Bank Polska: solid ...

Research Team
  • Research Team

WOOD Daily: HSBK LI; DIA PW; KTY PW; KTY PW; CEZ CP; PL Macro; GR Macr...

HEADLINES: • Halyk Bank: efficient frontier (stays BUY) • Diagnostyka: 4Q24 prelims and DPS proposal ahead of expectations POSITIVE • Kety: 1Q25 results in line with the preliminaries, PLN 48.78 DPS proposed NEUTRAL • Kety: new strategy assumes PLN 1.35bn in EBITDA in 2029E, close to our forecast NEUTRAL • CEZ: said to be nearing sale of nuclear SPV to the State POSITIVE • Poland macro: mixed results in March • Greece macro: 2024 budget surplus triggers one-off fiscal easing this year • Kazatomp...

GR Sarantis S.A.: 1 director

A director at GR Sarantis S.A. bought 3,606 shares at 11.800EUR and the significance rating of the trade was 54/100. 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 clear...

Research Team
  • Research Team

WOOD Daily: OTP HB; BFT PW; PEO PW; CAR PW; HUG PW

HEADLINES: • OTP Bank: agrees to limit retail fees NEUTRAL • Benefit Systems: EGM approves capital increase, via issuance of up to 280k new shares NEUTRAL • Santander Bank Polska: may face change of strategic investor NEUTRAL • Inter Cars: March sales growth accelerates to 13% yoy NEUTRAL • Huuuge Games: preliminary 1Q25 bookings at USD 62m, almost flat qoq NEUTRAL

Research Team
  • Research Team

WOOD Daily: CIS-plus Macro; CDR PW; VGO PW; GEV CP; DAT PW; HU Telecom...

HEADLINES: • CIS-plus macro: Georgia, Kazakhstan and Uzbekistan face indirect risks from US tariffs, but growth trajectory to remain intact • CD Projekt / gaming sector: Nintendo delays Switch 2 pre-orders in the US, due to tariffs NEGATIVE • VIGO Photonics: new US tariffs should have a marginal impact on the company's business NEUTRAL • GEVORKYAN: US import tariffs unlikely to affect demand or margins NEUTRAL • DataWalk: key takeaways from the 4Q24 earnings call POSITIVE • Hungarian telecoms: g...

Research Team
  • Research Team

WOOD Daily: MTELEKOM HB; DAT PW; LPP PW; TXT PW; CZG CP; EU Oil and Ga...

HEADLINES: • Magyar Telekom: regulatory risk outweighs the growth story (downgraded to HOLD) • DataWalk: actual 4Q24 figures in line with the prelims; strong hikes in sales funnel and value of acquired contracts in 1Q25 POSITIVE • LPP: key takeaways from 4Q24 and the strategy update presentation POSITIVE • Text: key takeaways from the 4Q24-25 preliminary earnings call NEUTRAL • Colt CZ Group SE: management's initial comment on US tariffs NEGATIVE • European oil and gas monthly: March 2025 – refi...

Atinc Ozkan ... (+3)
  • Atinc Ozkan
  • Piotr Raciborski
  • CFA

Magyar Telekom: regulatory risk outweighs the growth story (downgraded...

We have downgraded our rating on Magyar Telekom (MTELEKOM) to HOLD (from Buy) and raised our price target (PT) to HUF 1,635/share (from HUF 1,432), implying 4% upside potential. After keeping our Buy for four years (with a 289% share price rally in that time), we close our call. We continue to appreciate MTELEKOM’s growth outlook (a 7.0% 2024-27E EBITDA CAGR) and generous investor remuneration (a c.10% dividend yield in 2025-26E), but see the current discount on its valuation vs. its peers as ju...

Research Team
  • Research Team

WOOD Daily: LPP PW; EEMEA Macro; TRESTATE GA; MOH GA; EUR PW; TXT PW; ...

HEADLINES: • LPP: mediocre 4Q24 – EBIT 4-5% below expectations, but decent start to the year; FY25E guidance broadly maintained, and FY26-27E guidance of stable margins, despite major sales growth acceleration POSITIVE • EEMEA macro: US reciprocal tariff effects • Trade Estates: strong 2024 results POSITIVE • Motor Oil Hellas: 4Q24 results – CCS EBITDA in line with the consensus, but net income weak NEUTRAL • Eurocash: 4Q24 in line with the prelims NEUTRAL • Text: 4Q24-25 (calendar 1Q25) prelimi...

Research Team
  • Research Team

The Rear-View Mirror – EME markets: Türkiye in the red, again

EME Equity Market – March 2025 Türkiye hammered, once again. The MSCI EM Europe Index advanced 0.5% in EUR terms and 4.5% mom in USD terms in March. The Czech PX Index was the best performer (+7.0% mom in EUR terms), followed by the Greek ASE (+4.8% mom), Polish WIG (+3.7% mom) and Hungarian BUX(+1.3% mom) indices (all in EUR terms). There was a muted performance from the Romanian BET Index (-0.1% mom in EUR terms). The Turkish ISE30 finished in the red again, declining 9.5% mom in EUR terms.

BRE MBANK SA
PEO BANK POLSKA KASA OPIEKI SA
JMT JERONIMO MARTINS SGPS S.A.
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
EXAE HELLENIC EXCHANGES SA
MOL MOL NYRT
CEZ CEZ AS
ACP ASSECO POLAND SA
CDR CD PROJEKT S.A.
OMV OMV AG
PKO PKO BANK POLSKI S.A.
BHW BANK HANDLOWY W WARSZAWIE S.A.
BIMAS BIM BIRLESIK MAGAZALAR A.S.
WIZZ WIZZ AIR HOLDINGS PLC
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
BSK ING BANK SLASKI S.A.
BDX BUDIMEX S.A.
LAMDA LAMDA DEVELOPMENT S.A.
GEKTERNA GEK TERNA
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
KTY GRUPA KETY SA
TPS ORANGE POLSKA S.A.
CAI CA IMMOBILIEN ANLAGEN AG
SAR GR. SARANTIS S.A.
LPP LPP S.A.
CIMSA CIMENTO SANYAI VE TICARET A.S.
CCOLA COCA-COLA ICECEK A.S.
GTC GLOBE TRADE CENTRE S.A.
2310 SAHARA INTERNATIONAL PETROCHEMICAL COMPANY
DOM DOM DEVELOPMENT SA
AEGN AEGEAN AIRLINES SA
ENA ENEA S.A.
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
MGROS MIGROS TICARET A.S
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
TKNSA TEKNOSA IC VE DIS TICARET AS
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
APR AUTO PARTNER SA
TPEIR PIRAEUS BANK SA
ALPHA ALPHA BANK AE
PPC PUBLIC POWER CORPORATION S.A.
OTP OTP BANK NYRT
CAR INTER CARS S.A.
FROTO FORD OTOMOTIV SANAYI A.S.
THYAO TURK HAVA YOLLARI A.O.
ECH ECHO INVESTMENT
CPS CYFROWY POLSAT SA
MBR MO-BRUK S.A.
GPW WARSAW STOCK EXCHANGE
11B 11 BIT STUDIOS S.A.
TPE TAURON POLSKA ENERGIA S.A.
ALR ALIOR BANK SA
VGO VIGO SYSTEM SA
WPL WIRTUALNA POLSKA HOLDING SA
TLV BANCA TRANSILVANIA S.A.
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
SNP PETROM S.A.
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
NBGGY NATIONAL BANK OF GREECE S.A. ADS
BVB S.C. BURSA DE VALORI BUCURESTI S.A.
RICHT RICHTER
M MED LIFE
R22 R22
SOKM SOK MARKETLER TICARET AS
ESLT ELBIT SYSTEMS LTD
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
ALG ALLEGRO.EU SA
CZG CESKA ZBROJOVKA GROUP
KSPI KASPI KZ
INPST INPOST S.A.
PCF PCF GROUP SA
4IG 4IG NYRT
IGN1L IGNITIS GRUPE
WPS W.A.G PAYMENT SOLUTIONS PLC
PCO PEPCO GROUP NV
CTPNV KAZMUNAYGAS NC JSC
VRC CTP NV
GPP VERCOM SA
BCG GRUPA PRACUJ DA
KLKIM BALTIC CLASSIFIEDS GROUP PLC
GIG KALEKIM KIMYEVI MADDELER SANAYI VE TICARET AS
AROBS GAMING INNOVATION GROUP
9526 AROBS TRANSILVANIA SOFTWARE SA
SHO JAHEZ INTERNATIONAL CO
7203 SHOPER SA
AQ ELM CO
AIRA AQUILA PART PROD COM
GEV AIR ASTANA JSC
BOCHGR GEVORKYAN A.S.
DSPW BANK OF CYPRUS
DIAG DOOSAN SKODA POWER A.S.
DIAGNOSTYKA SA
Natalia Svyriadi
  • Natalia Svyriadi

Sarantis | Firing on all cylinders, with margins shifting up a gear

Delivering on FY’24 targets… – Sarantis delivered a solid performance in FY’24, with sales up 24% to €600m and EBIT rising 30% to €61m. Organic EBIT growth reached 14.7%, driven by a better product mix and efficiency gains. International sales surged 31%, supported by the Stella Pack acquisition (+15% uplift), while Greece saw a 10% increase. Net profit grew 17% to €46m, slightly below expectations due to one-off financial costs. Importantly, Sarantis beat guidance on most metrics and demonstrat...

Natalia Svyriadi
  • Natalia Svyriadi

Sarantis | Firing on all cylinders, with margins shifting up a gear

Delivering on FY’24 targets… – Sarantis delivered a solid performance in FY’24, with sales up 24% to €600m and EBIT rising 30% to €61m. Organic EBIT growth reached 14.7%, driven by a better product mix and efficiency gains. International sales surged 31%, supported by the Stella Pack acquisition (+15% uplift), while Greece saw a 10% increase. Net profit grew 17% to €46m, slightly below expectations due to one-off financial costs. Importantly, Sarantis beat guidance on most metrics and demonstrat...

Egor Fedorov ... (+2)
  • Egor Fedorov
  • James Wilson

EM Credit Spark/EM credit weekly and trade ideas update

The buildup to more tariff news next week is likely to keep investors on edge, while spreads generally remain fairly tight. We see technicals as the main supportive factor for EM credit, with a decent amount of sovereign issuance out of the way.

Research Team
  • Research Team

WOOD Daily: PCO PW; AIRA LI; CEZ CP; ALE PW; SHO PW; PL Banks; MBR PW;...

HEADLINES: • Pepco Group: structurally challenged (downgraded to HOLD) • Air Astana Group: 4Q24 – good, at first glance; dividend surprises positively • CEZ: takeaways from the 4Q24 earnings call NEGATIVE • Allegro: key takeaways from the 4Q24 call POSITIVE • Shoper: takeaways from the post-4Q24 prelims management call NEUTRAL • Polish banks: receive maximum dividend payout ratio letters from the PFSA – no surprises NEUTRAL • Mo-BRUK: unfavourable ruling results in closure of Wałbrzych branch (2...

Research Team
  • Research Team

WOOD Daily: CEZ CP; PKO PW; SAR GA; ALE PW; CAR PW; SHO PW; SHO PW; GE...

HEADLINES: • CEZ: 4Q24 results a strong beat, FY25E guidance also positive POSITIVE • PKO BP: posts solid 4Q24, and sets solid base for 2025E delivery NEUTRAL • Sarantis: FY24 slightly above guidance; minor guidance upgrade for 2025E POSITIVE • Allegro: 4Q24 EBITDA beat, solid FY25E guidance, PLN 1.4bn buyback POSITIVE • Inter Cars: preliminary 4Q24 net profit rises 41% yoy, but a slight miss vs. expectations NEUTRAL • Shoper: 4Q24 preliminary adjusted EBITDA up 32% yoy, sound 12% beat vs. our f...

Research Team
  • Research Team

WOOD Daily: BFT PW; CAR PW; CTPNV NA; FROTO TI; PL Utilities; BCG LN; ...

HEADLINES: • Benefit Systems: conditional USD 420m agreement to buy leading MAC Group fitness chain in Türkiye POSITIVE • Inter Cars: February sales growth decelerates to 3% yoy NEGATIVE • CTP: issues EUR 1bn of green bonds in two tranches, 6Y and 10Y POSITIVE • Ford Otosan: signs agreement with Iveco to develop heavy truck cabin models NEUTRAL • Polish utilities: comments on electricity price freeze for 4Q25 NEUTRAL • Baltic Classifieds Group: acquires Lithuanian real estate valuation platform ...

Research Team
  • Research Team

The Rear-View Mirror – EME markets: Poland outperforms; Türkiye declin...

EME Equity Market – February 2025 Poland outperforms, again; Türkiye declines. The MSCI EM Europe Index advanced by 3.1% in EUR terms and 2.9% mom in USD terms in February. The Polish WIG20 was, once again, the best performer, adding 7.3% mom in February; followed by the Czech PX Index (+6.1% mom); while Greece (+3.8% mom), Hungary (+3.5% mom) and Romania (+3.0% mom) all reported rather similar performances. The Turkish ISE30 was the worst performer, declining 4.5% mom.

BRE MBANK SA
EUROB EUROBANK ERGASIAS SERVICES & HOLDINGS SA
PEO BANK POLSKA KASA OPIEKI SA
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
KRU KRUK S.A.
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
ACP ASSECO POLAND SA
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
RBI RAIFFEISEN BANK INTERNATIONAL AG
OMV OMV AG
KOMB KOMERCNI BANKA A.S.
BHW BANK HANDLOWY W WARSZAWIE S.A.
BIMAS BIM BIRLESIK MAGAZALAR A.S.
WIZZ WIZZ AIR HOLDINGS PLC
SPL SANTANDER BANK POLSKA SA
BSK ING BANK SLASKI S.A.
BDX BUDIMEX S.A.
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
TPS ORANGE POLSKA S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
MYTIL MYTILINEOS S.A.
AKCNS AKCANSA CIMENTO
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
CIMSA CIMENTO SANYAI VE TICARET A.S.
LOGO LOGO YAZILIM SANAYI VE TICARET A.S.
CCC CCC SA
2310 SAHARA INTERNATIONAL PETROCHEMICAL COMPANY
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
TKNSA TEKNOSA IC VE DIS TICARET AS
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
APR AUTO PARTNER SA
LVC LIVECHAT SOFTWARE SA
TBCB TBC BANK JOINT STOCK CO
TPEIR PIRAEUS BANK SA
ALPHA ALPHA BANK AE
CAR INTER CARS S.A.
FROTO FORD OTOMOTIV SANAYI A.S.
THYAO TURK HAVA YOLLARI A.O.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
GSPARK GRAPHISOFT PARK SE
CPS CYFROWY POLSAT SA
11B 11 BIT STUDIOS S.A.
WPL WIRTUALNA POLSKA HOLDING SA
SAB1L SIAULIU BANKAS
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
SNP PETROM S.A.
PBK PATRIA BANK SA
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
DIGI DIGI COMMUNICATIONS NV
DNP DINO POLSKA S.A.
NBGGY NATIONAL BANK OF GREECE S.A. ADS
BVB S.C. BURSA DE VALORI BUCURESTI S.A.
GEB BANK OF GEORGIA
RICHT RICHTER
19XX NEPI ROCKCASTLE PLC
SFG SPHERA FRANCHISE GROUP SA
R22 R22
MCOV B MEDICOVER AB
ADNOCDIST ADNOC DISTRIBUTION PJSC
CGEO GEORGIA CAPITAL
EAT AMREST HOLDINGS SE
NLBR NLB GROUP
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
DUNAHOUSE DUNA HOUSE
KSPI KASPI KZ
HUGE HUUUGE
4IG 4IG NYRT
CTPNV CTP NV
GPP GRUPA PRACUJ DA
GIG GAMING INNOVATION GROUP
ADNOCDRILL ADNOC DRILLING CO
2381 ARABIAN DRILLING CO.
7202 ARABIAN INTERNET & COMMUNICATIONS SERVICES CO
ELPE HELLENIQ ENERGY
BOROUGE BOROUGE
7203 ELM CO
AQ AQUILA PART PROD COM
TRESTATES TRADE ESTATES REIC SA
AIRA AIR ASTANA JSC
NOVAL NOVAL PROPERTY
Loading...
New interest

Save your current filters as a new Interest

Please enter a name for this interest

Email alerts

Would you like to receive real-time email alerts when a new report is published under this interest?

Save This Search

These search results will show up under 'Saved searches' in the left panel

Please enter a name for this saved search

ResearchPool Subscriptions

Get the most out of your insights

Get in touch