reports
- Research Team
WOOD Daily: EMEA Airlines; RO Banks; MOL HB; GSPARK HB; CEZ CP; SNP RO...
HEADLINES: • EMEA airlines: disruption in Middle East operations • Romanian banks: draft government plan suggests new tax on banks is being considered • MOL: to acquire Budapest University of Technology and Economics NEGATIVE • Graphisoft Park: sells residential land plot POSITIVE • CEZ: AGM approves dividend of CZK 47/share NEUTRAL • OMV Petrom: to invest in solar power plant in Bulgaria NEUTRAL • OPAP: Greece invites bidders for State lotteries licence NEUTRAL • Short News (BFT, CDR)
- Research Team
WOOD Daily: EME Macro/Strategy Weekly; THYAO TI; AEGN GA; GEV CP; EME ...
HEADLINES: • EME Macro/Strategy: macro all-in-one (16-22 June) • Turkish Airlines: confirms talks over Air Europa stake purchase NEUTRAL • Aegean Airlines: may issue EUR 200-250m of new bonds NEUTRAL • GEVORKYAN: might raise up to 3.5m shares in the next 5Y NEUTRAL • EME Strategy: MSCI 2025 Global Market Accessibility Review
- Research Team
The Rear-View Mirror – EME markets: EME indices mostly in the green in...
EME Equity Market – May 2025 EME indices mostly in the green in May, apart from Türkiye. The MSCI EM Europe Index added 3.6% mom in EUR and USD terms. The Greek ASE index (+7.8% mom) was the best performer, followed by the Czech PX (+6.6% mom) and Romanian BET indices (+5.0% mom), the Hungarian BUX (+4.0% mom) and the Polish WIG20 (+2.0% mom; all in EUR terms). The Turkish ISE30 Index was, again, the worst performer, with a more modest decline (-1.4% mom in EUR terms) this time.
JMT JERONIMO MARTINS SGPS S.A.
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
EXAE HELLENIC EXCHANGES SA
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
ACP ASSECO POLAND SA
KRKG KRKA D.D.
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
CDR CD PROJEKT S.A.
RBI RAIFFEISEN BANK INTERNATIONAL AG
OMV OMV AG
PKO PKO BANK POLSKI S.A.
ISCTR TURKIYE IS BANKASI ANONIM SIRKETI CLASS C
TITK TITAN CEMENT CO. SA
BHW BANK HANDLOWY W WARSZAWIE S.A.
BIMAS BIM BIRLESIK MAGAZALAR A.S.
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
CAI CA IMMOBILIEN ANLAGEN AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
CCOLA COCA-COLA ICECEK A.S.
ENA ENEA S.A.
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
MGROS MIGROS TICARET A.S
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
APR AUTO PARTNER SA
TBCB TBC BANK JOINT STOCK CO
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.
EUR EUROCASH S.A.
ECH ECHO INVESTMENT
GSPARK GRAPHISOFT PARK SE
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.
OTOEL AUTOHELLAS S.A.
VGO VIGO SYSTEM SA
WPL WIRTUALNA POLSKA HOLDING SA
BELA JUMBO S.A.
TLV BANCA TRANSILVANIA S.A.
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
DIGI DIGI COMMUNICATIONS NV
DNP DINO POLSKA S.A.
NBGGY NATIONAL BANK OF GREECE S.A. ADS
GEB BANK OF GEORGIA
RICHT RICHTER
M MED LIFE
SFG SPHERA FRANCHISE GROUP SA
R22 R22
ADNOCDIST ADNOC DISTRIBUTION PJSC
CGEO GEORGIA CAPITAL
SOKM SOK MARKETLER TICARET AS
EAT AMREST HOLDINGS SE
NLBR NLB GROUP
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.
HUGE HUUUGE
4IG 4IG NYRT
IGN1L IGNITIS GRUPE
PCO PEPCO GROUP NV
CTPNV CTP NV
VRC VERCOM SA
GPP GRUPA PRACUJ DA
KLKIM KALEKIM KIMYEVI MADDELER SANAYI VE TICARET AS
GIG GAMING INNOVATION GROUP
ADNOCDRILL ADNOC DRILLING CO
2381 ARABIAN DRILLING CO.
7202 ARABIAN INTERNET & COMMUNICATIONS SERVICES CO
9526 JAHEZ INTERNATIONAL CO
ELPE HELLENIQ ENERGY
SHO SHOPER SA
4071 ARABIAN CONTRACTING SERVICES CO
7203 ELM CO
OPTIMAr OPTIMA BANK S.A.
AQ AQUILA PART PROD COM
TRESTATES TRADE ESTATES REIC SA
AIRA AIR ASTANA JSC
GEV GEVORKYAN A.S.
BOCHGR BANK OF CYPRUS
ZAB ZABKA GROUP
DSPW DOOSAN SKODA POWER A.S.
DIAG DIAGNOSTYKA SA
- Research Team
WOOD Daily: PZU PW; CEZ CP; EUR PW; GPW PW; SFG RO; TLV RO; BVB RO; DI...
HEADLINES: • PZU: solid 1Q25 results, ahead of the market's expectations; some upside risk for2025E EPS forecasts POSITIVE • CEZ: 1Q25 beat on distribution and sales segments, disposal of Polish assets POSITIVE • Eurocash: 1Q25 – weak, as expected NEGATIVE • Warsaw Stock Exchange: strong 1Q25, with a significant net income beat POSITIVE • Sphera Group: 1Q25 softer than expected; FY25E budget below our forecasts NEGATIVE • Banca Transilvania: bottom-line miss, due mainly to asset quality deterior...
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
OTP OTP BANK NYRT
EUR EUROCASH S.A.
GPW WARSAW STOCK EXCHANGE
VGO VIGO SYSTEM SA
TLV BANCA TRANSILVANIA S.A.
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
DIGI DIGI COMMUNICATIONS NV
BVB S.C. BURSA DE VALORI BUCURESTI S.A.
M MED LIFE
SFG SPHERA FRANCHISE GROUP SA
GIG KAZMUNAYGAS NC JSC
4071 GAMING INNOVATION GROUP
ARABIAN CONTRACTING SERVICES CO
- Research Team
WOOD Daily: MIL PW; JAHEZ AB; CCC PW; APR PW; CAR PW; RICHT HB; FROTO ...
HEADLINES: • Bank Millennium: solid, but neutral, set of 1Q25 results; FX mortgage saga still eating material part of profits • Jahez: mixed 1Q25 results, affected by seasonality and intensified competition NEGATIVE • CCC: preliminary 1Q25 EBITDA beats expectations by 2-8%, on FX differences NEUTRAL • Auto Partner: April sales growth slows down to 5% yoy NEGATIVE • Inter Cars: April sales growth decelerates to 6% yoy NEGATIVE • Richter: Trump promises 30-80% cuts in US drug prices NEGATIVE • For...
MIL BANK MILLENNIUM SA
CCC CCC SA
APR AUTO PARTNER SA
CAR INTER CARS S.A.
FROTO FORD OTOMOTIV SANAYI A.S.
GPW WARSAW STOCK EXCHANGE
TLV BANCA TRANSILVANIA S.A.
RICHT RICHTER
SFG SPHERA FRANCHISE GROUP SA
R22 R22
VRC VERCOM SA
GPP GRUPA PRACUJ DA
2381 ARABIAN DRILLING CO.
9526 JAHEZ INTERNATIONAL CO
- Research Team
WOOD Daily: BIMAS TI; MOL HB; OTP HB; EAT PW; NLBR SV; ETE GA; EUROB G...
HEADLINES: • BIM: weak results in 1Q25 NEGATIVE • MOL: 1Q25 results – strong EBITDA, big net income beat POSITIVE • OTP Bank: neutral 1Q25 results, but supported strongly by Russian operations NEUTRAL • AmRest: 1Q25 below expectations, due to EUR 5m negative one-off NEUTRAL • NLB Group: small bottom-line miss in 1Q25, but guidance maintained NEUTRAL • National Bank of Greece: 1Q25 highlights POSITIVE • Eurobank Ergasias Services: 1Q25 highlights NEUTRAL • Alpha Services and Holdings: 1Q25 highli...
MOL MOL NYRT
ACP ASSECO POLAND SA
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
TITK TITAN CEMENT CO. SA
BIMAS BIM BIRLESIK MAGAZALAR A.S.
BDX BUDIMEX S.A.
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
TBCB TBC BANK JOINT STOCK CO
ALPHA ALPHA BANK AE
OTP OTP BANK NYRT
11B 11 BIT STUDIOS S.A.
DIGI DIGI COMMUNICATIONS NV
NBGGY NATIONAL BANK OF GREECE S.A. ADS
EAT AMREST HOLDINGS SE
NLBR NLB GROUP
7203 ELM CO
- 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 ...
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
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 ...
PEO BANK POLSKA KASA OPIEKI SA
EBS ERSTE GROUP BANK AG
OMV OMV AG
PKO PKO BANK POLSKI S.A.
KOMB KOMERCNI BANKA A.S.
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
SPL SANTANDER BANK POLSKA SA
BDX BUDIMEX S.A.
GEKTERNA GEK TERNA
AKCNS AKCANSA CIMENTO
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
CIMSA CIMENTO SANYAI VE TICARET A.S.
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
ENA ENEA S.A.
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
TKNSA TEKNOSA IC VE DIS TICARET AS
OTP OTP BANK NYRT
CAR INTER CARS S.A.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
TPE TAURON POLSKA ENERGIA S.A.
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
SNP PETROM S.A.
RICHT RICHTER
MCOV B MEDICOVER AB
PCF PCF GROUP SA
BOROUGE BOROUGE
FTSHP FOOTSHOP A.S.
GEV GEVORKYAN A.S.
- Research Team
WOOD Daily: THEON NA; KRU PW; SAB1L LH; MCOVB SS; OTKAR TI; TOASO TI; ...
HEADLINES: • Theon International: 1Q25 trading update – strong execution, rich options POSITIVE • Kruk: 1Q25 results, beat driven by Wonga, debt purchased segment in line, but slowing growth dynamics NEUTRAL • Siauliu Bankas: rather weak 1Q25, but maintained outlook should provide some support NEGATIVE • Medicover: 1Q25 beat on admin costs and other financial income POSITIVE • Otokar: 1Q25 results – continuing losses on the operating and bottom lines • Tofas: weak set of results in 1Q25, as anti...
KRU KRUK S.A.
EBS ERSTE GROUP BANK AG
CDR CD PROJEKT S.A.
MYTIL MYTILINEOS S.A.
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
OTKAR OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.S.
THYAO TURK HAVA YOLLARI A.O.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
GPW WARSAW STOCK EXCHANGE
11B 11 BIT STUDIOS S.A.
BELA JUMBO S.A.
SAB1L SIAULIU BANKAS
SNP PETROM S.A.
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
MAVI MAVI GIYIM SANAYI VE TICARET A.S.
MCOV B MEDICOVER AB
TEN TEN SQUARE GAMES
HUGE HUUUGE
THEON THEON INTERNATIONAL PLC
- Research Team
WOOD Daily: MBR PW; OPL PW; KTY PW; EMEA Airlines; CEZ CP; MYTIL GA; S...
HEADLINES: • Mo-BRUK: 4Q24 results miss expectations, on jumping SG&A costs NEGATIVE • Orange Polska: 1Q25 results – EBITDAaL up 3% yoy, in line with the consensus; 2025E guidance reiterated NEUTRAL • Kety: 1Q25 results and new strategy presentation call takeaways NEUTRAL • EMEA airlines: 1Q25 traffic; demand concerns vs. cheaper USD and oil • CEZ: ANO promising privatisation and lower fees NEGATIVE • Metlen Energy & Metals: sells Chilean RES for USD 815m (EUR 710m) POSITIVE • Polish banks: Trea...
- Jakub Caithaml
WOOD Flash – EMEA airlines: 1Q25 traffic; demand concerns vs. cheaper ...
Exposed to the strength of consumer demand and with high operating leverage, European airlines have been under pressure lately (albeit less so than their US peers), on concerns about the economy, in the face of the escalating trade conflict. While, at c.4%, the 2025E market capacity growth is muted, around half of last year’s pace, it could still prove too fast, if the Eurozone GDP remains stagnant this year. Within the next 1-2M, we should start to get better visibility on the crucial summer RA...
- Szabolcs Pal
Strong fundamentals with limited downside risks
We cut our Dec-25 TP to 32.1 RON per share, but remain Buy rated on the stock, implying 20% upside potential including our estimated DPS of 2.1 RON. This reflects the bank’s strong capital returns. Last year TLV was active in M&A in the Romanian and Moldovan markets as they acquired OTP Bank Romania and BCR Chișinău. More importantly, around 95% of OTP customers are already with BT as of the announcement of the 2024 results. As a result, the management expects significant loan and deposit growth...
- Research Team
WOOD Daily: THEON NA; HUG PW; PGE PW; TPE PW; APR PW; INPST NA; DIA PW...
HEADLINES: • Theon International: Noctis in Dies* (BUY - initiation of coverage) • Huuuge Games: 4Q24 adjusted EBITDA 5% above our forecast, share buybacks not a priority NEUTRAL • PGE: key takeaways from the 4Q24 results call NEUTRAL • Tauron: key takeaways from the 4Q24 results call NEUTRAL • Auto Partner: earnings call takeaways – challenging 1Q25E, but rather optimistic on FY25E outlook NEUTRAL • InPost: acquisition of Yodel for GBP 106m debt swap NEUTRAL • Diagnostyka: 4Q24E preview – 35% y...
- Research Team
WOOD Daily: BOCHGR GA; PEO PW; APR PW; PGSUS TI; GR Macro; HU Macro; W...
HEADLINES: • Bank of Cyprus: income on tap, with rerating potential (stays BUY) • Bank Pekao: 2025-27E strategic targets • Auto Partner: final 4Q24 results slightly above the prelims NEUTRAL • Pegasus Airlines: 1Q25 traffic – a strong start to the year POSITIVE • Greece macro: improvements in 1Q • Hungary macro: duality in the economy continues • Wirtualna Polska: Warner Bros. Discovery keeps TVN POSITIVE • DataWalk: issues 750,000 shares at PLN 77.76/share POSITIVE • Alior Bank: 1Q25E preview (...
- Bruno Cavalier
- Konrad Zomer
REL RELX PLC
PEO BANK POLSKA KASA OPIEKI SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
TKA TELEKOM AUSTRIA AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
EVN EVN AG
MMK MAYR-MELNHOF KARTON AG
EL ESSILORLUXOTTICA SA
OMV OMV AG
PKO PKO BANK POLSKI S.A.
BRBY BURBERRY GROUP PLC
KER KERING SA
VOE VOESTALPINE AG
VER VERBUND AG CLASS A
01913 PRADA S.P.A.
POS PORR AG
MIL BANK MILLENNIUM SA
LNZ LENZING AG
CAI CA IMMOBILIEN ANLAGEN AG
PAL PALFINGER AG
WIE WIENERBERGER AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
SEM SEMPERIT HOLDING AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
UBS UBM DEVELOPMENT AG
CCC CCC SA
MONC MONCLER SPA
OTP OTP BANK NYRT
PYT POLYTEC HOLDING
ZAG ZUMTOBEL GROUP AG
POST OSTERREICHISCHE POST AG
ANDR ANDRITZ AG
STR STRABAG SE
BC BRUNELLO CUCINELLI S.P.A.
ALR ALIOR BANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
FLU FLUGHAFEN WIEN AG
FACC FACC AG
TLV BANCA TRANSILVANIA S.A.
TRP TERAPLAST
SNP PETROM S.A.
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
AMAG AMAG AUSTRIA METALL AG
AGR AGRANA BETEILIGUNGS-AG
ADYEN ADYEN NV
FQT FREQUENTIS AG WIENER
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
WINE PURCARI WINERIES PCL
CTPNV CTP NV
TTS TRANSPORT TRADE SVCS
AQ AQUILA PART PROD COM
- Bruno Cavalier
- Konrad Zomer
REL RELX PLC
PEO BANK POLSKA KASA OPIEKI SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
TKA TELEKOM AUSTRIA AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
EVN EVN AG
MMK MAYR-MELNHOF KARTON AG
EL ESSILORLUXOTTICA SA
OMV OMV AG
PKO PKO BANK POLSKI S.A.
BRBY BURBERRY GROUP PLC
KER KERING SA
VOE VOESTALPINE AG
VER VERBUND AG CLASS A
01913 PRADA S.P.A.
POS PORR AG
MIL BANK MILLENNIUM SA
LNZ LENZING AG
CAI CA IMMOBILIEN ANLAGEN AG
PAL PALFINGER AG
WIE WIENERBERGER AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
SEM SEMPERIT HOLDING AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
UBS UBM DEVELOPMENT AG
CCC CCC SA
MONC MONCLER SPA
OTP OTP BANK NYRT
PYT POLYTEC HOLDING
ZAG ZUMTOBEL GROUP AG
POST OSTERREICHISCHE POST AG
ANDR ANDRITZ AG
STR STRABAG SE
BC BRUNELLO CUCINELLI S.P.A.
ALR ALIOR BANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
FLU FLUGHAFEN WIEN AG
FACC FACC AG
TLV BANCA TRANSILVANIA S.A.
TRP TERAPLAST
SNP PETROM S.A.
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
AMAG AMAG AUSTRIA METALL AG
AGR AGRANA BETEILIGUNGS-AG
ADYEN ADYEN NV
FQT FREQUENTIS AG WIENER
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
WINE PURCARI WINERIES PCL
CTPNV CTP NV
TTS TRANSPORT TRADE SVCS
AQ AQUILA PART PROD COM
- Bruno Cavalier
- Luis de Toledo Heras
PEO BANK POLSKA KASA OPIEKI SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
TKA TELEKOM AUSTRIA AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
EVN EVN AG
MMK MAYR-MELNHOF KARTON AG
SZG SALZGITTER AG
EL ESSILORLUXOTTICA SA
OMV OMV AG
WHA WERELDHAVE N.V.
PKO PKO BANK POLSKI S.A.
BRBY BURBERRY GROUP PLC
KOF KAUFMAN & BROAD SA
KER KERING SA
VOE VOESTALPINE AG
VER VERBUND AG CLASS A
01913 PRADA S.P.A.
POS PORR AG
MIL BANK MILLENNIUM SA
LNZ LENZING AG
VID VIDRALA SA
NDA AURUBIS AG
CAI CA IMMOBILIEN ANLAGEN AG
PAL PALFINGER AG
WIE WIENERBERGER AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
CWC CEWE STIFTUNG & CO KGAA
SEM SEMPERIT HOLDING AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
UBS UBM DEVELOPMENT AG
CCC CCC SA
MONC MONCLER SPA
OTP OTP BANK NYRT
PYT POLYTEC HOLDING
ZAG ZUMTOBEL GROUP AG
POST OSTERREICHISCHE POST AG
ANDR ANDRITZ AG
STR STRABAG SE
BC BRUNELLO CUCINELLI S.P.A.
ALR ALIOR BANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
FLU FLUGHAFEN WIEN AG
FACC FACC AG
TLV BANCA TRANSILVANIA S.A.
TRP TERAPLAST
SNP PETROM S.A.
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
AMAG AMAG AUSTRIA METALL AG
AGR AGRANA BETEILIGUNGS-AG
FQT FREQUENTIS AG WIENER
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
VRLA VERALLIA SAS
WINE PURCARI WINERIES PCL
CTPNV CTP NV
TTS TRANSPORT TRADE SVCS
AQ AQUILA PART PROD COM
- Bruno Cavalier
- Luis de Toledo Heras
PEO BANK POLSKA KASA OPIEKI SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
TKA TELEKOM AUSTRIA AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
EVN EVN AG
MMK MAYR-MELNHOF KARTON AG
SZG SALZGITTER AG
EL ESSILORLUXOTTICA SA
OMV OMV AG
WHA WERELDHAVE N.V.
PKO PKO BANK POLSKI S.A.
BRBY BURBERRY GROUP PLC
KOF KAUFMAN & BROAD SA
KER KERING SA
VOE VOESTALPINE AG
VER VERBUND AG CLASS A
01913 PRADA S.P.A.
POS PORR AG
MIL BANK MILLENNIUM SA
LNZ LENZING AG
VID VIDRALA SA
NDA AURUBIS AG
CAI CA IMMOBILIEN ANLAGEN AG
PAL PALFINGER AG
WIE WIENERBERGER AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
CWC CEWE STIFTUNG & CO KGAA
SEM SEMPERIT HOLDING AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
UBS UBM DEVELOPMENT AG
CCC CCC SA
MONC MONCLER SPA
OTP OTP BANK NYRT
PYT POLYTEC HOLDING
ZAG ZUMTOBEL GROUP AG
POST OSTERREICHISCHE POST AG
ANDR ANDRITZ AG
STR STRABAG SE
BC BRUNELLO CUCINELLI S.P.A.
ALR ALIOR BANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
FLU FLUGHAFEN WIEN AG
FACC FACC AG
TLV BANCA TRANSILVANIA S.A.
TRP TERAPLAST
SNP PETROM S.A.
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
AMAG AMAG AUSTRIA METALL AG
AGR AGRANA BETEILIGUNGS-AG
FQT FREQUENTIS AG WIENER
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
VRLA VERALLIA SAS
WINE PURCARI WINERIES PCL
CTPNV CTP NV
TTS TRANSPORT TRADE SVCS
AQ AQUILA PART PROD COM
- Research Team
WOOD Daily: DNP PW; EME Macro/Strategy Weekly; BOCHGR GA; TLV RO
HEADLINES: • Dino Polska: 4Q24 results spot on prelims NEUTRAL • EME Macro/Strategy: macro all-in-one (7-13 April) • Bank of Cyprus: to acquire Ethniki Insurance Cyprus POSITIVE • Banca Transilvania: to acquire Microinvest in Moldova NEUTRAL
- Research Team
WOOD Daily: ENA PW; CPS PW; KRU PW; AEGN GA; THYAO TI; APR PW; MIL PW;...
HEADLINES: • Enea: full 4Q24 results in line with preliminaries; PLN 7.9bn capex planned in 2025E NEGATIVE • Cyfrowy Polsat: 4Q24 results review – adjusted EBITDA up 15% yoy, in line with the consensus NEUTRAL • Kruk: issues 1Q25 trading statement NEUTRAL • Aegean Airlines: 1Q25 traffic – a strong start to the year POSITIVE • Turkish Airlines: 1Q25 traffic – 4% ASK growth yoy NEUTRAL • Auto Partner: March sales growth recovers to 13% yoy, but still well below our FY expectations NEUTRAL • Bank M...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.