ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 08/19/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 19/08/2025

Digi Communications : Few catalysts materialised, while execution risk...

Credit Morning 08/18/2025

Kantar: slowdown is confirmed in H1 2025 but EBITDA remains up thanks to mix effects|

Morning Crédit 18/08/2025

Kantar : le ralentissement se confirme au S1 2025, mais l’EBITDA reste en hausse grâce au mix|

WOOD Daily: CGEO LN; BIMAS TI; SOKM TI; KLKIM TI; AQ RO; SNG RO; RO Ma...

HEADLINES: • Georgia Capital: multi-sector story (BUY - transfer of coverage) • BIM: solid operating results overshadowed by bottom-line miss in 2Q25 NEUTRAL • Sok Marketler Ticaret: bottom line misses expectations in 2Q25 NEGATIVE • Kalekim: 2Q25 – strong set of results POSITIVE • Aquila Part Prod Com S.A.: 2Q25 – eyeing +6% EBITDA margin for 2H25E POSITIVE • Romgaz: 2Q25 results – better than our forecasts POSITIVE • Romania macro: GDP heading into a tough 2H • DIGI Communications: key takeawa...

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Bite, Digi Communications, Hapag-Lloyd, Borr Drilling, Motel One, Vedanta Resources

Digi (Underweight) Q2 25: Some concerns on KPIs, Portugal fibre roll (...

Digi has reported a disappointing set of results with slower RGU adds in Portugal and Belgium than in Q1, weak ARPU in Spain, and seemed to push out the timetable for the Portugal fibre roll on the call.

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 08/14/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 14/08/2025

Digi Communications : Activation of new businesses starts to weigh on ...

WOOD Daily: NLBR SV; DIGI RO; DOC AV; PL Macro; PL Banks; MBR PW; CEZ ...

HEADLINES: • NLB Group: still cheap, despite the rally (stays BUY) • DIGI Communications: 2Q25 results – adjusted EBITDA down 1% yoy, 2% below our estimate NEGATIVE • DO & CO: 1Q FY26 results above our expectations POSITIVE • Poland macro: GDP growth steady in 2Q • Polish banks: tax on obligatory reserve remuneration may be announced in the coming weeks NEGATIVE • Mo-BRUK: consortium with MBR signs PLN 30m “eco bomb” contract POSITIVE • CEZ: E.ON negotiating, reportedly, with CEZ on the sale of ...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 08/13/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 13/08/2025

PKO BP : Sound Q2 2025 at a marginal beat and touching 10% y-o-y loan ...

WOOD Daily: ACP PW; PKO PW; ESLT IT; MGROS TI; PGSUS TI; LOGO TI; IGN1...

HEADLINES: • Asseco Poland: unjustifiably expensive (downgraded to SELL) • PKO BP: very solid 2Q25; our ambitious forecasts seem achievable; market valuation appears to be pricing it in NEUTRAL • Elbit Systems: 2Q25 results – strong operating performance and a big contract win in Europe • Migros: 2Q25 results – bottom line misses expectations NEGATIVE • Pegasus Airlines: 2Q25 – weaker margins yoy, as expected • Logo Yazilim: 2Q25 results – in line; FY25E guidance reiterated NEUTRAL • Ignitis Gro...

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Bite, Sasol, Digi Communications, Hapag-Lloyd, Solenis

WOOD Daily: SOLUTION AB; TBCG LN; ALARABIA AB; JAHEZ AB; CAR PW; ACAG ...

HEADLINES: • Solutions by STC: balance of risks to the upside (upgraded to BUY) • TBC Bank: 2Q25 results and conference call highlights • Al Arabia Outdoor Advertising: weak 2Q25 financial results NEGATIVE • Jahez: weak 2Q25 financial results, with significant pressure on the EBITDA margin NEGATIVE • Inter Cars: July sales growth accelerates marginally, to 11% yoy NEUTRAL • Austriacard: 1H25E earnings preview (due on 28 August)

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:...

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...