reports
- Research Team
WOOD Flash – Moneta Money Bank: solid guidance on earnings and divid...
Moneta Money Bank has posted CZK 3.92bn of net profit for 2017, in line with the latest guidance, from December 2017 (CZK 3.9bn) and above the earlier guidance issued throughout 2017. More importantly, the management board announced its 2017 DPS recommendation of CZK 8, which implies a yield of almost 10% in the near term. On top of this, the management board committed to at least a CZK 11.5bn total dividend payout over 2018-21E (from the 2017-20E net profit), which implies a total yield of c.27...
- Research Team
WOOD Morning (7 February)
HEADLINES: * OPAP: tailwinds continuing (stays BUY) * Moneta Money Bank: solid 4Q17 results and 2018-20E guidance; 27% total dividend yield in three years POSITIVE * Raiffeisen Int.: 4Q17 - preliminary 2017E in line with expectations NEUTRAL * MMK: 4Q17 financial results EBITDA and net income beat consensus, but FCF weaker than expected * Romgaz/OMV Petrom: Romania - Hungary gas deal POSITIVE * Czech Republic macro: new Czech bond yield forecasts * EME Strategy: MSCI Feb...
- Research Team
WOOD Morning (30 January)
HEADLINES: * Russian Equity Strategy 2018: Russian equities - BUY with caution * Sberbank: NBD and Sber confirm talks on potential Denizbank acquisition POSITIVE * O2 Czech Republic: 4Q17 beat on strong mobile operations, one-off gain on Taxify POSITIVE * Magyar Telekom: Telenor confirms talks to sell CEE mobile business NEUTRAL * Wirtualna Polska: Emitel sues WP TV and Nowa TV NEUTRAL * Moneta Money Bank: 4Q17E preview (due on 7 February) * Komercni Banka: 4Q17E preview (...
- Jakub Caithaml
- Raffaella Tenconi
WOOD Flash – Czech macro: no longer the safer haven in the region
Current Czech president Milos Zeman has secured a second five-year term as the head of state, winning an exceptionally close presidential race against chemistry professor and former president of the Academy of Sciences Jiri Drahos. Zeman, who is widely perceived as the representative of anti-immigrant, anti-Islam, Eurosceptic and pro-Russian tendencies, won the race with 51%, beating his opponent by a mere 150k votes.
- Research Team
WOOD Morning (19 January)
HEADLINES: * Kruk: Piraeus announces sale of NPLs to Kruk POSITIVE * Moneta Money Bank: announces sale of retail unsecured NPLs POSITIVE * Anadolu Efes: potential ban on beer sales in two arenas during FIFA World Cup NEUTRAL * Pfleiderer: 3.2m shares buyback programme - virtually no upside to yesterday's price NEUTRAL * EVRAZ: 4Q17 trading update - growth in sales qoq, driven by higher semis sales NEUTRAL * Short News (CEZ, OTP, PPC)
- Research Team
The Rear-View Mirror – CEE markets: New Polish Prime Minister appoin...
Market performance –Turkish index the regional top performer in December. The MSCI EME gained +3.7% mom in EUR terms in December. The largest rate of return for December was realised by the Turkish ISE30 (+13.9% mom), followed by the Athens Stock Exchange index (+8.4% mom), the Polish WIG20 (+2.9%), the Hungarian BUX (+2.6%), the Czech PX index (+1.6% mom) and the Russian MIXEX (+0.8% mom), while the Romanian BET index lost 1%. Only utilities in negative territory for December. Industrials wa...
PEO BANK POLSKA KASA OPIEKI SA
KRU KRUK S.A.
CEZ CEZ AS
OMV OMV AG
PGN POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA
PKO PKO BANK POLSKI S.A.
CETV CENTRAL EUROPEAN MEDIA ENTERPRISES LTD. CL A
FFGRP FOLLI FOLLIE S.A.
PETG SV PETROL GROUP
WIZZ WIZZ AIR HOLDINGS PLC
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
DOAS DOGUS OTOMOTIV SERVIS VE TICARET A.S.
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
BSK ING BANK SLASKI S.A.
KGH KGHM POLSKA MIEDZ S.A.
TPS ORANGE POLSKA S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
CIE CIECH S.A.
EUPRO GRIVALIA PROPERTIES REIC
LWB LUBELSKI WEGIEL BOGDANKA S.A.
AFLT AEROFLOT RUSSIAN AIRLINES
GNB GETIN NOBLE BANK SA
LVC LIVECHAT SOFTWARE SA
PPC PUBLIC POWER CORPORATION S.A.
OTP OTP BANK NYRT
CAR INTER CARS S.A.
CPS CYFROWY POLSAT SA
GPW WARSAW STOCK EXCHANGE
PKP PKP CARGO
ICD ENERGA SA
HB HELLENIC BANK LTD.
WPL WIRTUALNA POLSKA HOLDING SA
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
ROSN LI ROSNEFT
MOEX MOSCOW EXCHANGE MICEX-RTS PJSC
DIGI DIGI COMMUNICATIONS NV
NIIS NAFTNA INDUSTRIJA SRBIJE NOVA SAD
MONET CP MONETA MONEY BANK
SBER03 RX SBERBANK
ASELS TI ASELSAN
BFTPLN LN BENEFIT SYSTEMS
TELEC LN O2 CZECH REPUBLIC
DPEU LN DP EURASIA
ALPHA GA ALPHA BANK
NBGGY NATIONAL BANK OF GREECE S.A. ADS
TPEIR GA PIRAEUS BANK
PLY PW PLAY COMMUNICATIONS
OTKAR TI OTOKAR
FROTO TI FORD OTOSAN
TGN RO TRANSGAZ
KAZ LN KAZAKHMYS
JSW PW JSW
UNIP CP UNIPETROL AS
ANY HB ANY SECURITY PRINTING COMPANY
ALR PW ALIOR BANK
BOCH LN BANK OF CYPRUS
ELSA SOCIETATEA ENERGETICA ELECTRICA
ENA PW ENEA
OGZD LI GAZPROM
RICHT HB RICHTER
GSPARK HB GRAPHISOFT PARK
MOL HB MOL
MDG PW MEDICALGORITHMICS
NVTK LI NOVATEK
PGE PW PGE
PETKM TI PETKIM
SNG RO ROMGAZ
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