reports
Alkaloid AD Skopje: 1 director
A director at Alkaloid AD Skopje bought 400 shares at 0.000MKD and the significance rating of the trade was 63/100. 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 clearl...
EQS-News: VERBUND successfully places new EUR 500 million Green Bond i...
EQS-News: VERBUND AG / Key word(s): Bond/Issue of Debt VERBUND successfully places new EUR 500 million Green Bond including biodiversity 21.05.2024 / 11:00 CET/CEST The issuer is solely responsible for the content of this announcement. VERBUND AG, Austria's leading utility company, has taken another step in its long-standing green finance strategy and successfully issued a green bond including biodiversity. The green bond including biodiversity for EUR 500 million with a term of 7 years was extremely well received by the investor community in a competitive environment and...
EQS-News: VERBUND platziert erfolgreich neuen Green Bond inklusive Bio...
EQS-News: VERBUND AG / Schlagwort(e): Anleihe/Anleiheemission VERBUND platziert erfolgreich neuen Green Bond inklusive Biodiversität in Höhe von 500 Mio. Euro 21.05.2024 / 11:00 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Die VERBUND AG, Österreichs führendes Energieunternehmen, hat einen weiteren Schritt in der langjährig erfolgreichen Green Finance Strategie gesetzt und erfolgreich eine grüne Anleihe inklusive Biodiversität begeben. Die grüne Anleihe inklusive Biodiversität in Höhe von EUR 500 Mio. mit einer Laufzeit von 7 Jahre...
- Research Team
WOOD Daily: PZU PW; WPL PW; PPC GA; HSBK LI; CEZ CP; KMGZ KZ; GPP PW; ...
HEADLINES: • PZU: posts solid 1Q24, confirming growth trends in the non-life segment; strategy from new management update due in 4Q24E NEUTRAL • Wirtualna Polska: 1Q24 results review – adjusted EBITDA up 11% yoy, 3% above the consensus POSITIVE • Public Power Corporation: 1Q24 EBITDA jumps, but bottom line disappoints NEGATIVE • Halyk Bank: 1Q24 highlights and notes from the conference call NEUTRAL • CEZ: proposes CZK 52 DPS from the 2023 earnings NEUTRAL • KazMunayGas: Board recommends KZT 491....
Benefit Systems S.A.: 1 director
A director at Benefit Systems S.A. sold 20,000 shares at 2,750.017PLN and the significance rating of the trade was 68/100. 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...
Eurobank Ergasias Services And Holdings: 1 director
A director at Eurobank Ergasias Services And Holdings sold 10,000 shares at 2.140EUR and 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...
- Research Team
WOOD Daily: CZ Banks; ALARABIA AB; GEV CP; EME Macro/Strategy Weekly; ...
HEADLINES: • Czech banks: special sector levy headlines continue to flow NEGATIVE • Al Arabia Outdoor Advertising: 1Q24 interim financial results POSITIVE • GEVORKYAN: 1Q24 – strong set of results, with EBITDA up 24% yoy, 17% above our estimate POSITIVE • EME Macro/Strategy: macro all-in-one (13-19 May) • Inter Cars: 25% yoy 1Q24E EBITDA decline, on top line and FX-related gross margin weakness (due on 22 May) • Short News (DAT, OTE)
GR Sarantis S.A.: 1 director
A director at GR Sarantis S.A. sold 2,500 shares at 11.370EUR and 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 last two years clearly...
Kruk S.A.: 1 director
A director at Kruk S.A. sold 20,000 shares at 466.030PLN and the significance rating of the trade was 71/100. 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 show...
Hellenic Telecommunications Organization S.A.: 1 director
A director at Hellenic Telecommunications Organization S.A. bought 15,000 shares at 14.259EUR and the significance rating of the trade was 72/100. 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...
- Mihaly Gajda
Romgaz delivers solid Q1 2024 results
Key Message Romgaz reported a solid quarter with RON 1581 mn EBITDA, down 16% YoY andup 43.8% QoQ. The company was able to improve QoQ profitability despite significantly lower gas prices, primarily due to a substantial reduction in windfall taxes from RON 477 mn to RON 77 mn from Q1 2023 to Q1 2024. Other parametersremained relatively stable.
- Szabolcs Pal
Surprising Q1 on revenues, lower provisioning
BT’s reported net income came to RON 1,132 mln in the first quarter, up by35% and 63% y-o-y and q-o-q, respectively. Better results stemmed fromlower provisioning, higher revenues and a solid bargain gain from theacquisition of the BCR Chișinău S.A. Net interest income went up by 9% q-o-q and 24% y-o-y as a result of higherlending flows and higher NIM while net fees also increased thanks to strongclient activity. Net trading was also better after a weak Q4 due to higher incomefrom derivatives....
- Egor Fedorov
- James Wilson
EM Credit Spark/EM credit weekly
After some relief for markets on the data front this week, a period of quiet in terms of macro news should offer a further window for new supply to come from EM issuers ahead of an expected summer lull. Spread levels remain well anchored and EM credit should continue to see robust demand from yield-seeking investors.
- Research Team
WOOD Daily: CGEO LN; ELPE GA; GPW PW; BOCH CY; ALPHA GA; EUROB GA; BFT...
HEADLINES: • Georgia Capital: announces two new buyback programmes POSITIVE • HELLENiQ Energy: 1Q24 results – mildly above expectations POSITIVE • Warsaw Stock Exchange: bottom-line miss and further margin compression in the 1Q24 results NEGATIVE • Bank of Cyprus: 1Q24 highlights POSITIVE • Alpha Services and Holdings: 1Q24 highlights – trading-related beat, but NIM and fees evolve better than expected • Eurobank Ergasias Services: 1Q24 highlights – helped by trading income, but good quarter ove...
KRKG KRKA D.D.
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
LOGO LOGO YAZILIM SANAYI VE TICARET A.S.
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
ALPHA ALPHA BANK AE
MBR MO-BRUK S.A.
GPW WARSAW STOCK EXCHANGE
11B 11 BIT STUDIOS S.A.
BANK OF CYPRUS PCL
CGEO GEORGIA CAPITAL
CZG CESKA ZBROJOVKA GROUP
4IG 4IG NYRT
AROBS AROBS TRANSILVANIA SOFTWARE SA
ELPE HELLENIQ ENERGY
- Miguel Dias
WOOD Flash – Banca Transilvania: NIM resilience and strong loan book e...
Overall, we see the bank’s 1Q24 results as positive. Despite the core pre-provision profit coming in largely in line with our expectations, we view the resilience of the NIM and the strong loan book expansion as constructive. The bargain gain was a positive surprise and, together with the very low COR, provided most of the c.27% bottom-line beat vs. our expectations.
- Bram Buring
- CFA
WOOD Flash – AROBS Transilvania Software: revenues recovery to be back...
1Q24 was another quarter of stagnation in the IT sector and, therefore, soft earnings from AROBS – revenues fell by 5% yoy and the adjusted net profit by 30% yoy. Management highlighted several factors, including: 1) delays in signing new contracts linked to automotive electrification; 2) disappointing results from AROBS Polska (aerospace), which is now being reorganised; 3) integration systems revenues that will be backloaded into 2H24E; and 4) targeted new investments in sales and marketing. O...
- Research Team
WOOD Daily: BFT PW; MTELEKOM HB; PBK RO; GEV CP; MBR PW; DAT PW; IGN1L...
HEADLINES: • Benefit Systems: strong 1Q24, but May card base estimate disappoints POSITIVE • Magyar Telekom: 1Q24E results review – EBITDA up 46% yoy, 6% above the consensus; 2024E guidance upgraded POSITIVE • Patria Bank: strong bottom-line print in 1Q24, but loan book development remains absent POSITIVE • GEVORKYAN: 1Q24 EBITDA up 24% yoy, 17% above our estimate POSITIVE • Mo-BRUK: 1Q24 EBITDA 5% above our forecast, 6% miss vs. the consensus NEUTRAL • DataWalk: 1Q24 numbers fully in line with ...
- Russell Waller
Digi Q1 24: Solid results, Portugal launch pushed to H2 24
Digi has reported a solid set of Q1 numbers vs expectations: Both SR and EBITDA growth rates are slower, but remain impressive. A launch in Portugal has been pushed back to H2 (same timing as for Belgium) and no further details were given on the launch particulars. We remain unconvinced that Digi can build NPV positive businesses in either market, but we think it will launch in both, with all the associated costs– indeed, Digi upped capex guidance for 2024 to €650m-€700m from €650m. This drag to...
- Lukasz Wachelko
- CFA
WOOD Flash – Sphera Group: strong 1Q24 results
Today (15 May), Sphera reported another strong set of results, and held a webcast, to discuss them. While the sales growth remained in single-digit territory (+9% yoy), the company continued to surprise on the profitability end. With EBTDA of RON 40m, up 69% yoy, the company came in 15% ahead of our expectations.
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