reports
- Klaus Ringel
- Julian Dobrovolschi
- Julian Dobrovolschi
- Klaus Ringel
- Bojan Djurickovic
- Oleg Galbur
- Research Team
WOOD Daily: CDR PW; PZU PW; MOL HB; ELPE GA; NLBR SV; CCC PW; AKCNS TI...
HEADLINES: • CD Projekt: opening the next chapter (upgraded to BUY) • PZU: CEO Klesyk dismissed NEGATIVE • MOL: 2Q25 results hit by one-off charge NEUTRAL • HELLENiQ Energy: 2Q25 results NEUTRAL • NLB Group: material bottom-line beat in 2Q25, due mainly to provisions and impairments released POSITIVE • CCC: preliminary 2Q25 EBITDA beats expectations by 1-5%, on the top line POSITIVE • Akcansa: 2Q25 conference call takeaways NEUTRAL • Brisa: takeaways from the 2Q25 earnings call POSITIVE • Cimsa:...
CDR CD PROJEKT S.A.
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
AKCNS AKCANSA CIMENTO
BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
CIMSA CIMENTO SANYAI VE TICARET A.S.
CCC CCC SA
APR AUTO PARTNER SA
NLBR NLB GROUP
ELPE HELLENIQ ENERGY
- Mihaly Gajda
OMV resilient despite macro strain, Petrochemicals remain weak
OMV reported clean CCS EBIT of EUR 1,031 mn in Q2 2025, down 11% QoQ and 16% YoY, broadly in line with the market consensus of EUR 1,022 mn. CCS net income came in at EUR 385 mn, also close to consensus. The differences between actual results and consensus were minimal, both at the aggregate and segment levels.
- Krisztian Karikas
Upgraded guidance creates more room for payout
Magyar Telekom has reported solid results for the second quarter and beat market consensus estimates. Thanks to the efficient cost reduction and one-off items, adjusted net profit reached HUF 110bn in the first half of 2025. Such that management has lifted its full year guidance, expecting ca. 15% EBITDAaL growth over the year, at least HUF 200bn adjusted net profit and HUF 200bn free cashflow. Due to the better than expected results, we adjust our forecast for this year while keeping our ...
- Roy Külter
- Steven Boumans
SBMO SBM OFFSHORE NV
SCMN SWISSCOM AG
UTDI UNITED INTERNET AG
KCO KLOECKNER & CO SE
VOE VOESTALPINE AG
XIOR XIOR STUDENT HOUSING N.V.
G24 SCOUT24 AG
LNZ LENZING AG
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
FNTN FREENET AG
DRI 1&1 DRILLISCH AG
S92 SMA SOLAR TECHNOLOGY AG
INS INSTONE REAL ESTATE GROUP AG
SFQ SAF-HOLLAND SE
CTPNV CTP NV
SHA SCHAEFFLER AG
- Bojan Djurickovic
SBMO SBM OFFSHORE NV
SCMN SWISSCOM AG
UTDI UNITED INTERNET AG
KCO KLOECKNER & CO SE
VOE VOESTALPINE AG
XIOR XIOR STUDENT HOUSING N.V.
G24 SCOUT24 AG
LNZ LENZING AG
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
FNTN FREENET AG
DRI 1&1 DRILLISCH AG
S92 SMA SOLAR TECHNOLOGY AG
INS INSTONE REAL ESTATE GROUP AG
SFQ SAF-HOLLAND SE
SHA SCHAEFFLER AG
- Research Team
WOOD Morning (7 August 2025)
HEADLINES: • Bank Pekao: strong 2Q25 delivery reaffirms our FY25E net profit forecast of c. PLN 7bn, still ahead of the market consensus NEUTRAL • Magyar Telekom: 2Q25 results review – EBITDA up 13% yoy, 3% above the consensus; 2025E guidance upgraded POSITIVE • Akcansa: weak 2Q25 financial results, with signs of recovery NEGATIVE • Teknosa: 2Q25 results – recovery in the operating performance overshadowed by losses on the bottom line NEUTRAL • Brisa: 2Q25 results in line, very much like 1Q25 NE...
MOL MOL NYRT
CEZ CEZ AS
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
AKCNS AKCANSA CIMENTO
BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
TKNSA TEKNOSA IC VE DIS TICARET AS
PPC PUBLIC POWER CORPORATION S.A.
GPW WARSAW STOCK EXCHANGE
BELA JUMBO S.A.
CGEO GEORGIA CAPITAL
4IG 4IG NYRT
CTPNV CTP NV
- Bojan Djurickovic
- Oliver Metzger
- Stephan Wulf
- Oliver Metzger
- Stephan Wulf
- Mihaly Gajda
Petrom beats expectations, lifted by one-off litigation gain
• The company reported clean CCS operating profit of RON 1,188 mn, representing a 6% decline QoQ and a 14% decline YoY. However, it outperformed the consensus estimate of RON 1,111 mn, exceeding it by 7%, mainly due to stronger-than-expected performance in the E&P segment. The results were significantly boosted by a one-off litigation settlement, which increased EBITDA and EBIT by RON 200 mn. The outperformance was even more pronounced at the net profit level, further supported by RON 170 mn in ...
- Jovan Sikimic
- Research Team
WOOD Daily: ALR PW; RICHT HB; ASELS TI; THYAO TI; ISCTR TI; CIMSA TI; ...
HEADLINES: • Alior Bank: solid 2Q25, with a beat vs. the market's expectations on stronger other income and lower LLPs POSITIVE • Richter: 2Q25 results broadly in line NEUTRAL • Aselsan: 2Q25 results – strong beat, driven by operating performance POSITIVE • Turkish Airlines: 2Q25 – EBIT above the consensus on better costs POSITIVE • Isbank: 2Q25 highlights – a mixed bag, but management sounds confident in sharp margin recovery in 2H25E • Cimsa: 2Q25 financial results review – strong revenue grow...
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
CIMSA CIMENTO SANYAI VE TICARET A.S.
ENA ENEA S.A.
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
THYAO TURK HAVA YOLLARI A.O.
GPW WARSAW STOCK EXCHANGE
TPE TAURON POLSKA ENERGIA S.A.
ALR ALIOR BANK SA
RICHT RICHTER
ADNOCDIST ADNOC DISTRIBUTION PJSC
ALG ALLEGRO.EU SA
IGN1L IGNITIS GRUPE
KLKIM KALEKIM KIMYEVI MADDELER SANAYI VE TICARET AS
ELPE HELLENIQ ENERGY
AIRA AIR ASTANA JSC
BOCHGR BANK OF CYPRUS
ZAB ZABKA GROUP
OMV AG: 1 director
A director at OMV AG bought 600 shares at 44.280EUR and the significance rating of the trade was 53/100. 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 showing C...
BRE MBANK SA
AXA AXA
VONN VONTOBEL HOLDING AG
ENX EURONEXT NV
SGO COMPAGNIE DE SAINT-GOBAIN SA
PEO BANK POLSKA KASA OPIEKI SA
RR. ROLLS-ROYCE HOLDINGS PLC
ENGI ENGIE SA.
UBSN UBS GROUP AG
JMT JERONIMO MARTINS SGPS S.A.
BNP BNP PARIBAS SA CLASS A
MC LVMH MOET HENNESSY LOUIS VUITTON SE
DBK DEUTSCHE BANK AG
CBK COMMERZBANK AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
PBB DEUTSCHE PFANDBRIEFBANK AG
EBS ERSTE GROUP BANK AG
LSEG LONDON STOCK EXCHANGE GROUP PLC
GLE SOCIETE GENERALE S.A. CLASS A
KBC KBC GROUP N.V.
EL ESSILORLUXOTTICA SA
PKO PKO BANK POLSKI S.A.
KOMB KOMERCNI BANKA A.S.
BRBY BURBERRY GROUP PLC
KER KERING SA
G ASSICURAZIONI GENERALI S.P.A.
ISP INTESA SANPAOLO S.P.A.
BCP BANCO COMERCIAL PORTUGUES S.A.
DTE DEUTSCHE TELEKOM AG
SPL SANTANDER BANK POLSKA SA
01913 PRADA S.P.A.
MIL BANK MILLENNIUM SA
BKT BANKINTER SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
UCG UNICREDIT S.P.A.
MONC MONCLER SPA
OTP OTP BANK NYRT
CABK CAIXABANK SA
BC BRUNELLO CUCINELLI S.P.A.
ALR ALIOR BANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
BRD BRD-GROUPE SOCIETE GENERALE
SAN BANCO SANTANDER S.A.
TLV BANCA TRANSILVANIA S.A.
UNI UNICAJA BANCO S.A.
BG BAWAG GROUP AG
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
SAB BANCO DE SABADELL SA
MRNA MODERNA INC.
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
ALLFG ALLFUNDS (UK) LTD
DTG DAIMLER TRUCK
LIN LINDE PUBLIC LIMITED COMPANY
CVC CVC CAPITAL PARTNERS PLC
TRIO TRIODOS BANK N.V.
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