AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.75 per share: Raising new equity to fund a high impact activity programme – ADX has raised A$13.5 mm of new equity priced at A$0.105 per share. One free-attaching option will be issued for evert two placement shares with an exercise price of A$0.15 per share and an expiry date of 08/05/2026. The proceeds from the raise will fund (1) the production testing of the 450 m gas column encountered at ...
EME Equity Market – April 2024 Market performance – green across all geographies, with Turkey outperforming. The MSCI EM Europe Index was up 5.3% mom in EUR terms and 4.2% mom in USD in April; while the Turkish ISE30 saw the strongest performance, adding 11.6% mom; followed by the Hungarian BUX (+5.0% mom); the Czech PX (+2.8% mom); the Greek ASE (+1.8% mom), the Polish WIG20 (+1.2% mom) and the Romanian BET (+0.1% mom) (all in EUR terms).
HEADLINES: • CTP: better late than never (upgraded to BUY) • Georgia macro: protests in Tbilisi • Raiffeisen Bank International: posts solid 1Q24, keeps 2024E guidance (but only on ex. Russia and Belarus basis), facing huge pressure to address Russia and Belarus exposures from officials • Air Astana Group: 1Q24 – 15% ASK growth, RASK down slightly yoy, but CASK stable • Piraeus Financial Holdings: 1Q24 highlights NEUTRAL • Alkaloid: 1Q24 numbers a strong start to the year POSITIVE • National Ban...
EQS-News: Raiffeisen Bank International AG / Key word(s): Quarter Results RBI: Consolidated profit excluding Russia and Belarus remains strong 02.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. RBI: First Quarter Report 2024 Consolidated profit excluding Russia and Belarus remains strong Consolidated profit of EUR 333 million, excluding Russia and Belarus and including EUR 109 million provisions for CHF mortgages in Poland Core revenues excluding Russia and Belarus down 4% quarter-over-quarter to EUR 1,519 million, main...
EQS-News: Raiffeisen Bank International AG / Schlagwort(e): Quartalsergebnis RBI: Konzernergebnis weiter stark, auch ohne Russland und Belarus 02.05.2024 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. RBI: Zwischenbericht 1. Quartal 2024 Konzernergebnis weiter stark, auch ohne Russland und Belarus Konzernergebnis ohne Beiträge aus Russland und Belarus beträgt EUR 333 Millionen, inklusive Rückstellungen für CHF-Kredite in Polen in Höhe von EUR 109 Millionen Kernerträge ohne Russland und Belarus im Quartalsvergleich um 4% a...
HEADLINES: • Santander Bank Polska: 1Q24 results – 19%+ headline ROE affected only slightly by FX mortgage saga costs • Bank Pekao: 1Q24 results in line with market's expectations NEUTRAL • PCF Group: 4Q23 headlines hit heavily by write-offs, but a more limited EBITDA loss than we had expected NEUTRAL • Erste Bank: 1Q24 results NEUTRAL • OMV: 1Q24 results – chemicals stronger than expected NEUTRAL • Borouge: 1Q24 results – better than expected POSITIVE • OMV Petrom: 1Q24 results NEUTRAL • Garan...
HEADLINES: • Arcelik: weak bottom-line performance in 1Q24 NEGATIVE • Sipchem: 1Q24 results – weak net income NEGATIVE • Kruk: issues flash 1Q24 net profit of PLN 338m NEUTRAL • EME Macro/Strategy: macro all-in-one (22-28 April) • Türkiye macro: MPC takes a pause, but hiking cycle not over yet • OTP Bank: CEO Csanyi speaks at AGM on future acquisitions and Russian exposure POSITIVE • Budimex: BXF Energia acquires 60 MW photovoltaic project NEUTRAL • Inter Cars: dividend policy for 2023-25E and p...
The CEE region is expected to deliver a moderate rebound of GDP growth in 2024,following the preceding year’s weak growth, fuelling expectations of sustainable profits inthe banking sector. Inflation is seen to be twin faced in our region, similar to most of the coreeconomies. Even with a diminished potential for much intra-year improvement of the inflationpath in 2024, this inflation provides several CEE central banks more room to cut policy ratesthis year. Lower interest rates are expected to ...
HEADLINES: • MONETA Money Bank: strong 1Q24 delivery, on better-than- expected revenues POSITIVE • Alior Bank: books small beat on 1Q24 delivery, driven by low credit risk charges; robust 2024E outlook supported POSITIVE • Shoper: 1Q24 adjusted EBITDA 9% above our expectations; FY23 results in line with prelims POSITIVE • Mo-BRUK: 4% miss vs. our 4Q23 adjusted EBITDA forecast, weak cash flows NEGATIVE • Wizz Air: fiscal 2024 post-close trading update POSITIVE • Aselsan: CEO's comments on exports...
• Pegasus Airlines: 1Q24 traffic - international ASK up 85% vs. 1Q19 • 11 bit studios: Frostpunk 2 Beta now available for seven days, first gameplay deep dive trailer released • VIGO Photonics: 1Q24 sales down 16% yoy to PLN 15.8m • Grupa Pracuj: new online job ads number down 19% yoy in March 2024 • Auto Partner: earnings call takeaways - solid FY24E outlook maintained, despite disappointing March sales • CCC: key takeaways from the recent site visit • Kazatomprom: awarded a licence for Rare Ea...
Last week (10-12 April) we attended a site visit at CCC’s HQ, which presented new collections and discussed new agreements with suppliers, including exclusive licences. After a long struggle with excess and outdated inventories, over 90% of its stock now comes from fresh collections. Moreover, new supply agreements, including licences with Reebok, Hunter, Nine West, Kappa and Mexx, and renegotiated deals with the remaining suppliers, coupled with the “circle” mechanism of co-financing the sell-d...
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Restarting production at Anshof – The Permanent Production Facility (PPF), with a capacity of 3,000 bbl/d of liquids, has been commissioned and the Anshof-3 well has recommenced production at a rate of 134 bbl/d with no water. The operation has been undertaken in line with expectations and within budget. The oil production rate at Anshof-3 is 16% above the rate prior to shut-in. A...
HEADLINES: • OMV Petrom: 1Q24 trading statement POSITIVE • OMV: 1Q24 trading statement NEUTRAL • Bank Millennium: 1Q24E CHF mortgage saga provisions land at PLN 507m NEUTRAL • Polish gencos: IndMin floats notion of alternative solution to the NABE NEUTRAL • EME Macro/Strategy: macro all-in-one (1-7 April) • Halyk Savings Bank: pays off State aid fully POSITIVE • Orange Polska: key takeaways from the interview with the CTO NEUTRAL • Polish telecoms: mobile number portability in 1Q24 NEUTRAL • Pub...
HEADLINES: • Budimex: stands out, but deserves a pause (downgraded to HOLD) • CCC: 4Q23 slightly below prelims; sales acceleration and gross margin widening in 1Q24E POSITIVE • PGE: takeaways from the 4Q23 earnings call NEUTRAL • Hungary macro: the rise of the “Peter Magyar” phenomenon • Poland macro: local elections and NBP decision show continuity • Budimex: UOHS cancels decision on choosing BDX's offer for the D11 highway NEGATIVE • Budimex: potential new contract in road construction (PLN 0...
EQS-News: Raiffeisen Bank International AG / Schlagwort(e): Aktienrückkauf/Aktienrückkauf Rückerwerb eigener Aktien 04.04.2024 / 18:57 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Veröffentlichung des Hauptversammlungsbeschlusses der Raiffeisen Bank International AG zum Rückerwerb eigener Aktien gemäß § 65 Abs 1 Z 8 AktG sowie Abs 1a und Abs 1b AktG sowie zur Veräußerung eigener Aktien auf eine andere Art als über die Börse oder durch ein öffentliches Angebot unter Ausschluss des Bezugsrechts der Aktionärinnen und Aktionäre(§ 65 ...
EQS-News: Raiffeisen Bank International AG / Key word(s): Share Buyback/Share Buyback Alienation of own shares 04.04.2024 / 18:57 CET/CEST The issuer is solely responsible for the content of this announcement. Publication of the resolution of the Annual General Meeting of Raiffeisen Bank International AG in relation to the acquisition of own shares pursuant to sec. 65 para. 1 sub-para. 8 as well as para. 1a and 1b of the Stock Corporation Act (AktG) as well as the alienation of own shares in a way other than by sale via the stock exchange or by public offer under exclusi...
HEADLINES: • GEVORKYAN: the power of powder (BUY - initiation of coverage) • Turkish Airlines: 4Q24 – ending a very good year on a strong note POSITIVE • Grupa Pracuj: 4Q23 results – adjusted EBITDA up 18% yoy, 8% above the market consensus POSITIVE • Motor Oil Hellas: 4Q23 results NEUTRAL • Enea: preliminary 4Q23 results POSITIVE • Text: key takeaways from the 4Q23-24 preliminary earnings call NEUTRAL • Bank of Georgia: finalises Ameria acquisition POSITIVE • Aegean Airlines: 1Q24 traffic – goo...
EME Equity Market – March 2024 Market performance – mixed performances in March, with the Romanian BET outperforming. The MSCI EM Europe Index declined by 0.3% mom in EUR terms and 0.4% mom in USD in March. The Romanian BET reported the strongest performance, adding 7.1% mom in EUR terms, followed by the Czech PX and the Polish WIG20 (+4.1% and 1.0% mom, in EUR terms, respectively). Greece saw a relatively muted performance (-0.2% mom in EUR terms), while Hungary (-1.1% mom in EUR terms) and Tür...
HEADLINES: • InPost: 4Q23 strong, as expected; neutral FY24E guidance; volume acceleration in 1Q24 NEUTRAL • Asseco Poland: 4Q23 review – net profit up 10% yoy, in line with preliminaries; strong 2024 backlog recorded POSITIVE • Echo Investment: 4Q23 – residential good, offices bad NEUTRAL • Athens Exchange Group: 4Q23 results NEUTRAL • LPP: key takeaways from the conference call on the exit from Russia, 2.0 POSITIVE • Kruk: 2023 net profit DPS proposal of PLN 18, in line with our expectations N...
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