HEADLINES: • Wirtualna Polska: WP boosts media margins (stays BUY) • Aselsan: 2Q24 IAS 29 results – strong execution POSITIVE • Inter Cars: 2Q24 EBITDA 10% above our forecast and 5% above the consensus, on higher margin POSITIVE • Inter Cars: August sales growth at 8% yoy, in line with our expectations NEUTRAL • PCF Group: new work-for-hire agreement with Krafton; PLN 7m write-off on Project Red POSITIVE • Santander Bank Polska: strategic investor wants to reduce its stake • Kazatomprom: obtains...
We maintain our BUY rating on Wirtualna Polska (WPL) and lift our 12M price target (PT) to PLN 133.2/share (from PLN 131.5), implying c.44% upside. WPL’s share price has declined 22% ytd, due mainly to the Media segment’s growth stalling, even despite the relatively solid market environment. It seems that, finally, the group’s management has recognised the reasons behind the issues, and has implemented a series of initiatives aimed at boosting the growth and profitability of the segment, includi...
The lower supply pressure and turning interest rate cycle have helped CEE bank bonds outperform this year, particularly in the unsecured segment. The relative value metrics of CEE bank bonds remain enticing though versus European comparables, from a bank fundamental and instrument rating angle. We expect to see a further outperformance of CEE names.
The lower supply pressure and turning interest rate cycle have helped CEE bank bonds outperform this year, particularly in the unsecured segment. The relative value metrics of CEE bank bonds remain enticing though versus European comparables, from a bank fundamental and instrument rating angle. We expect to see a further outperformance of CEE names.
Notice of optional redemption of notes due 7 October 2025 Dated 6 September 2024 Notice to the noteholders of €210,000,000 1.047 per cent. Senior Preferred Notes due 7 October 2025 (ISIN: LT0000405771) (the "Notes"). THIS NOTICE CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) No 596/2014 ("MAR") THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS IMMEDIATELY. THIS NOTICE DOES NOT CONSTIT...
Pranešimas apie išankstinį obligacijų, kurių terminas 2025 m. spalio 7 d., išpirkimą 2024 m. rugsėjo 6 d. Pranešimas 210 000 000 EUR nominalios vertės 1,047 proc. fiksuotos palūkanų normos pirmaeilių privilegijuotos obligacijų, kurių išpirkimo terminas yra 2025 m. spalio 7 d., (ISIN: LT0000405771) (toliau – Obligacijos) savininkams. ŠIAME PRANEŠIME PATEIKIAMA INFORMACIJA YRA VIEŠAI NEATSKLEISTA INFORMACIJA, KAIP TAI YRA NUMATYTA PIKTNAUDŽIAVIMO RINKA REGLAMENTO (ES) Nr. 596/2014 (MAR) 7 STRAIPSNYJE. ŠIS PRANEŠIMAS YRA DIDELĖS SVARBOS IR REIKALAUJA SKUBAUS OBLIGACIJŲ SAVINI...
Admission to trading of AB Šiaulių bankas Notes on Euronext Dublin THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER, INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF AKCINĖ BENDROVĖ ŠIAULIŲ BANKAS. On 5 September 2024 the EUR 300,000,000 4.853 per cent. Fixed Rate Reset Callable Senior Preferred Notes of AB Šiaulių bankas were successfully admitted to the official list of Euronext Dublin and to trading on the regulated market of Euronext Dublin administered by the Irish Stock Exchange plc. This communication is not...
Approved prospectus of Šiaulių bankas AB notes THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER, INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF AKCINĖ BENDROVĖ ŠIAULIŲ BANKAS. On 3 September 2024, the Central Bank of Ireland as competent authority under Prospectus Regulation (EU) 2017/1129 approved a Prospectus of Šiaulių bankas AB regarding EUR 300,000,000 4.853 per cent. Fixed Rate Reset Callable Senior Preferred Notes for the admission to listing on the official list and to trading on the Euronext Dublin...
Patvirtintas AB Šiaulių banko obligacijų prospektas ŠIS PRANEŠIMAS NĖRA NEI SIŪLYMAS, NEI KVIETIMAS AR RAGINIMAS PARDUOTI AR PIRKTI BET KOKIUS AKCINĖS BENDROVĖS ŠIAULIŲ BANKAS VERTYBINIUS POPIERIUS. Airijos centrinis bankas, kaip kompetentinga institucija pagal Prospekto Reglamentą (ES) 2017/1129, 2024 m. rugsėjo 3 d. patvirtino AB Šiaulių banko Prospektą, skirtą 300 000 000 EUR nominalios vertės pirmaeiles privilegijuotas 4,853 proc. fiksuotų palūkanų normos obligacijas, su galimybe jas iš anksto išpirkti ir pakeisti nustatytą fiksuotą palūkanų normos dydį, įtraukti į oficialų sąraš...
HEADLINES: • cyber_Folks: 2Q24 results review – 21% yoy adjusted EBITDA growth, 4% above our estimate POSITIVE • Sarantis: 1H24 EBITDA up 45% yoy, 8% ahead of our expectations; FY24E guidance maintained POSITIVE • Vercom: 2Q24 results review – 29% yoy EBITDA growth, 6% above our estimate POSITIVE • EME Macro/Strategy: reflections on the consequences of a weak Germany • Kazakhstan macro: Tokayev’s 2024 state-of-the-nation address • Türkiye macro: GDP underperforms in 2Q • 4iG: key takeaways from ...
EME Equity Market – August 2024 A red month for the EME indices, with only the Czech PX index in positive territory. The MSCI EM Europe index declined by 4.7% in EUR terms and 2.6% in USD terms in August. The Czech PX index was the only index to report a positive figure, adding 0.5% mom in EUR terms. The rest of the indices were in the red: the Turkish ISE30 index was down 11.5% mom in EUR terms, followed by Greece (-3.2% mom), Romania (-2.6% mom) and Hungary (-1.2% mom; all in EUR terms). The P...
HEADLINES: • Bank of Cyprus: room for further rerating (stays BUY) • Bank Handlowy: writes down remaining goodwill on retail banking fully in 2Q24 NEUTRAL • Text: 1Q24-25 (calendar 2Q24) results – EBITDA down 2% yoy, but 5% above the consensus POSITIVE • Sphera Group: strong 2Q24 results, as expected NEUTRAL • MedLife: 2Q24 confirms operational earnings recovery, net profits still weak NEUTRAL • HELLENiQ Energy: 2Q24 results – weak net income, due to one-off costs NEUTRAL • Mo-BRUK: earnings cal...
Šiaulių Bankas has successfully placed EUR 300 million note issue on the international market THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER, INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF AKCINĖ BENDROVĖ ŠIAULIŲ BANKAS. Šiaulių Bankas AB has successfully placed EUR 300 million issue of 4.25-year senior preferred fixed rate reset notes with an optional call date and interest rate reset at 3.25 years from issue as debut on the international debt capital markets. The annual fixed rate coupon on the notes up to the...
HEADLINES: • Kruk: 2Q24 results – recently-announced miss caused by higher costs and negative revaluations in Spain NEUTRAL • Eurocash: weak 2Q24 across the board NEGATIVE • Asseco Poland: 2Q24 review – net profit down 10% yoy, 7% above the consensus POSITIVE • 11 bit studios: 2Q24 adjusted EBITDA slightly below our expectations, but bottom line boosted by associates NEUTRAL • Grupa Pracuj: 2Q24 results – adjusted EBITDA flat yoy, 2% above the market consensus; bottom-line miss on revaluation of...
Šiaulių Bankas AB Group financial statement for H1 2024, reviewed by the audit company Šiaulių Bankas AB unaudited financial statements of the Bankas Group for H1 2024 on 29 July 2024. Consolidated interim financial statements for H1 2024 of the Šiaulių Bankas Group were reviewed by KPMG. Šiaulių Bankas Groups operating results, financial position and cash flows for H1 2024 has not changed compared to previously announced unaudited financial statements. On 27 August 2024 The Management Board of the Šiaulių Bankas got acquainted with audit-reviewed financial statements of the Group ...
Šiaulių banko grupės 2024 m. pirmojo pusmečio audito įmonės peržiūrėtos finansinės ataskaitos AB Šiaulių bankas 2024 m. liepos 29 d. Banko grupės 2024 pirmojo pusmečio neaudituotas finansines ataskaitas. Banko audito įmonė KPMG peržiūrėjo konsoliduotas 2024 m. pirmojo pusmečio ataskaitas. Šiaulių banko grupės 2024 m. pirmojo pusmečio veiklos rezultatai, finansinė padėtis ir pinigų srautai, palyginti su anksčiau skelbtomis neaudituotomis finansinėmis ataskaitomis, nesikeitė. 2024 m. rugpjūčio 27 d. Šiaulių banko valdyba susipažino su 2024 m. pirmojo pusmečio audito peržiūrėtomis Gr...
Šiaulių Bankas AB plans a Senior Preferred note offering, subject to market conditions THIS NOTICE CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) No 596/2014 ("MAR"). THIS NOTICE DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER, INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF AKCINĖ BENDROVĖ ŠIAULIŲ BANKAS. On 27 August 2024, the Management Board of Šiaulių Bankas AB approved a potential benchmark-size Senior Preferred note offering which would follow subject to market conditio...
AB Šiaulių bankas planuoja pirmaeilių privilegijuotų (angl. senior preferred) obligacijų siūlymą, esant tinkamoms rinkos sąlygoms ŠIAME PRANEŠIME PATEIKIAMA INFORMACIJA YRA VIEŠAI NEATSKLEISTA INFORMACIJA, KAIP TAI YRA NUMATYTA PIKTNAUDŽIAVIMO RINKA REGLAMENTO (ES) Nr. 596/2014 (MAR) 7 STRAIPSNYJE. ŠIS PRANEŠIMAS NĖRA NEI SIŪLYMAS, NEI KVIETIMAS AR RAGINIMAS PARDUOTI AR PIRKTI BET KOKIUS AKCINĖS BENDROVĖS ŠIAULIŲ BANKAS VERTYBINIUS POPIERIUS. 2024 m. rugpjūčio 27 d. AB Šiaulių banko valdyba priėmė sprendimą vykdyti lyginamojo dydžio (angl. benchmark-size) pirmaeilių privileg...
HEADLINES: • Komercni Banka: awaiting a NII inflection point (stays BUY) • MONETA Money Bank: valuation prices in higher ROE and strong yield (stays HOLD) • Ten Square Games: 2Q24 adjusted EBITDA 16% above our forecast; TEN confirms mom bookings recovery in July POSITIVE • Wirtualna Polska: 2Q24 results review – adjusted EBITDA down 2% yoy, in line with the consensus NEGATIVE • Mo-BRUK: new tenders for ecological bombs decommissioning on the market NEUTRAL • HELLENiQ Energy: 2Q24E results previe...
HEADLINES: • Kruk: expects PLN 603m of 1H24E net profit (flash estimate) NEGATIVE • EME Macro/Strategy: macro all-in-one (19-25 August) • EME Strategy: FTSE GEIS September 2024 Semi-Annual Review • OMV: announces gas discovery in the Norwegian Sea NEUTRAL • Eurocash: 2Q24E results preview – 19% yoy EBITDA decline expected (due on 28 August)
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