WOOD Daily: EAT PW; KRU PW; TXT PW; ENA PW; CTPNV NA; RICHT HB; DHS HB...

HEADLINES: • AmRest: 4Q25 miss, due mainly to allegations about food safety in Czechia NEGATIVE • Kruk: 4Q25 results – bit of a mixed bag • Text: 3Q25-26 (calendar 4Q25) results – EBITDA down 25% yoy, 3% above the consensus NEUTRAL • Enea: impairments and higher provisions to reduce 2025 net income by PLN 1.37bn and EBITDA by PLN 162m NEUTRAL • CTP: 4Q25 results and conference call • Richter: 4Q25 beat, on gross margin and tight opex control POSITIVE • Duna House: 4Q25 in line, guidance implies ...

WOOD Flash – OTE: 4Q25 results review – organic adjusted EBITDA up 2% ...

OTE has reported a solid set of 4Q25 results, with its Greek sales up 9% yoy, to EUR 916m (6% above our forecast) and its Greek adjusted EBITDA up 2% yoy, to EUR 366m (in line with our estimate). The fixed-line segment recorded sales growth of 10.2% yoy, to EUR 536m (driven by an ICT sales hike of 57.8% yoy and a 2.6% increase yoy in retail sales, despite the 5.0% yoy drop in wholesale sales), while the mobile segment increased by 3.4% yoy, to EUR 340.5m, as the 5.2% increase in retail sales (dr...

OTE (Neutral, TP: €17.2, -3%) Q4 25: Solid results, and good guidance

OTE has reported a solid set of results (very good at the revenue level due to low margin ERF revenues, but EBITDAaL in-line) and given some good EBITDAaL guidance for FY26. We recently downgraded to Neutral due to the PPC FTTH overbuilder risk

OTE (Hellenic Telecoms) | First thoughts: Q4 in line, 7% distribution ...

Q4 in line, Q4 EBITDA +2.3%, FY25 +2%; acceleration to +3% in FY26 – Q4 adj. EBITDAaL came in at €351m, +2.3% yoy and broadly in sync with consensus. Some key metrics seem to have accelerated, with mobile very robust (service revenues +5.2% from +2.7% in Q3; pre-to-post migration, pricing), retail fixed improving to +2.6% from +1.3% in Q3 (FTTH uptake, 2-digit growth in Pay TV), and ICT growing strongly. This brought FY25 adj. EBITDAaL to €1,374m, in line with mgt guidance (+2% yoy) and market e...

OTE (Hellenic Telecoms) | First thoughts: Q4 in line, 7% distribution ...

Q4 in line, Q4 EBITDA +2.3%, FY25 +2%; acceleration to +3% in FY26 – Q4 adj. EBITDAaL came in at €351m, +2.3% yoy and broadly in sync with consensus. Some key metrics seem to have accelerated, with mobile very robust (service revenues +5.2% from +2.7% in Q3; pre-to-post migration, pricing), retail fixed improving to +2.6% from +1.3% in Q3 (FTTH uptake, 2-digit growth in Pay TV), and ICT growing strongly. This brought FY25 adj. EBITDAaL to €1,374m, in line with mgt guidance (+2% yoy) and market e...

WOOD Daily: ALR PW; OTP HB; DIGI RO

HEADLINES: • Alior Bank: 4Q25 results beat expectations, on low admin and credit risk costs POSITIVE • OTP Bank: 4Q25E preview (due on 6 March) • DIGI Communications: key takeaways from the 4Q25 earnings call POSITIVE

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Telecom Italia, Digi Communications, TK Elevator, Azelis, EnQuest Plc, TAP, Guala Closures, Odfjell Drilling, Sasol, Victoria, International Personal Finance

Digi (Equal Weight) Q4 25: New bullish Spanish guidance; Portugal fibr...

Digi has reported a weak set of results vs our expectations, but has given new bullish mid-term guidance for Spain, and reported good Spanish EBITDAaL growth (+41% y/y) as the MNO benefits continue to come through.

WOOD Daily: GSPARK HB; KRU PW; CPS PW; DNP PW; DIGI RO; BIMAS TI; EME ...

HEADLINES: • Graphisoft Park: 4Q25 – low LTV, high ROE POSITIVE • Kruk: issues preliminary 2025 net profit, almost in line with expectations NEUTRAL • Cyfrowy Polsat: main shareholders (Mr. Solorz's heir) want to participate in next nuclear power project NEGATIVE • Dino Polska: 4Q25E preview – 3% yoy EBITDA growth expected (due on 26 March) NEGATIVE • DIGI Communications: 4Q25 preliminary results – adjusted EBITDA up 7% yoy, 6% below our estimate NEGATIVE • BIM: BoD decides to increase the paid-...

WOOD Daily: OPL PW; CDR PW; RICHT HB; RO Macro; SNP RO; SNG RO; ELPE G...

HEADLINES: • Orange Polska: 4Q25 results – EBITDAaL up 7% yoy, 2% above the consensus; strong 2026E guidance POSITIVE • CD Projekt: The Witcher 3: Wild Hunt – Complete Edition available on Xbox Game Pass on 19 February NEUTRAL • Richter: announces R&D collaboration for endometriosis drug candidate NEUTRAL • Romania macro: NBR extends the pause • OMV Petrom / Romgaz: Romania to postpone gas price liberalisation until 2027E NEGATIVE • Romgaz: 4Q25 preview (due on 27 February) NEUTRAL • HELLENiQ En...

OMV : Model update post Q4 results leads to a 5% increase in the targe...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 02/10/2026

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 10/02/2026

WOOD Daily: BFT PW; ING PW; MBK PW; CAR PW; VGO PW; GEKTERNA GA; DIGI ...

HEADLINES: • Benefit Systems: grow baby, grow! (BUY - transfer of coverage) • ING BSK: 4Q25 results beat; solid DPS guidance; recent share price rally might have consumed part of the upside • mBank: solid 4Q25; rather cautious on the 2026E revenue outlook NEUTRAL • Inter Cars: January sales increase by 4.0% yoy NEGATIVE • VIGO Photonics: 4Q25E results preview – solid yoy adjusted EBITDA improvement expected (due on 16 March) • GEK Terna: seals c.EUR 1bn of Romanian railway projects – positive, b...

OMV Petrom : Higher 2030 oil and gas production and unit cost optimisa...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 02/06/2026

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 06/02/2026

AUCTUS ON FRIDAY - 02.06.2026

AUCTUS PUBLICATIONS ________________________________________ ADX Energy Exploration (ADX AU)C; Target price of A$0.20 per share: Momentum accelerating. Potential resources increase in Austria – The Welchau‑1 well is scheduled for re‑entry in February to test the Reifling reservoir. An acid stimulation will be performed on the perforated interval to address wellbore damage and improve productivity in the carbonate section. The operation should also yield additional insight into the deeper Welchau...