MSCI November Index Review - Standard indices (STD) changes: DEL: Orange Polska; SmallCap indices (SC) changes: DEL: FACC, Telekom Austria; AT: Andritz - Andritz to supply equipment to Sappi in Austria (neutral) AT: OMV - Market rumors about Carlyle's interest in OMV's upstream assets (neutral) AT: Vienna Insurance Group - Hartwig Löger confirmed to become CEO (neutral) PL: LPP - CEO states company has prepared for weaker sales in coming months (negative) PL: Santander Bank Polska ...
PBT of EUR 136 mn somewhat below our and consensus expectations Strong top-line growth continued with ~18% yoy, driven by P&C and Life segments Claims (+c. 17% yoy) and costs (+c. 23%) inflation offset the impressive premium growth Sound investment income performance We view the quarterly results as neutral in the light of rising claims and costs
AT: Rosenbauer - Operating loss in Q3 amplified by restructuring costs, unchanged FY guidance of sales of ca. EUR 1 bn and positive EBIT requires major earnings uptick in Q4 (neutral) AT: Vienna Insurance Group - Strong earnings driven by underwriting and investment performance (neutral) DE: Encavis - Q3 22 above RBIe and consensus without EUR 30 mn provision for potential government revenue skimming, guidance confirmed (neutral) RO: Conpet - Q3 22 net profit up by 27% yoy, on the back o...
AT: FACC - Negative EBIT and bottom line loss in Q3 22, FY outlook confirmed (negative) AT: S IMMO - Acquiring properties in Budapest from CPI Property Group (neutral) AT: Vienna Insurance Group - Application for listing on the Budapest Stock Exchange submitted (neutral) AT: voestalpine - Q2 results live up to pre-announced indication, NWC remains cash flow burden (neutral) CEE: Banks - KBC reports lower Q3 net profit qoq in CZ, but higher in BG and HU (neutral) CZ: CTP - Q3 trends i...
AT: Vienna Insurance Group - Hartwig Löger to become new CEO as of July 2023 (neutral) EU: Energy - Commission proposal of EUR 180/MWh revenue cap during winter, solidarity contribution and 5% peak demand cut, hint at electricity market reform (negative) HU: MOL - Croatian government wants INA to sell all gas produced in Croatia domestically at regulated prices (negative)
AT: Bawag Group - Supreme Court rules against Bawag in the swap contract court case with City of Linz/ EUR 254 mn write-off has no impact on regulatory capital (neutral) AT: Kapsch TrafficCom - Kapsch TrafficCom agreed to sell Spanish public transport subsidiary (neutral) AT: PORR - Initial FY 22 output guidance below RBIe but might be conservative, earnings increase flagged (neutral) AT: Vienna Insurance Group - CEO Elisabeth Stadler will not renew her mandate (neutral) RO: Sphera Fra...
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