Research
Click on the research reports below for the latest analysis from any of our analysts across Benelux and Central & Eastern Europe.
CEEMEA/CISUnknown — 06 sep 2010Regional News Summary - In Brief
Poland
TPSA: Tribunal’s ruling in the case with DPTG – TPSA has to pay PLN 1,568m
BZ WBK: Final offers being placed
Asseco: Acquisition of Formula Systems Group
PGNiG: Signs agre ...
Read full report BeneluxATEO, QUFG, SOLB, THR, UMI — 06 sep 2010Contents:
Atenor: Feedback analyst meeting
Banimmo: Feedback analyst meeting
Quest For Growth: August NAV levels out at two-year high
Solvay: Expansion of Chinese hydrogen fluoride production
Thrombogenics: Straight li ...
Read full report CEEMEA/CISUnknown — 03 sep 2010W przeciwieństwie do rynku, spółkę postrzegamy pozytywnie. Uważamy, że przyszły wzrost zysków, który ma odbicie w atrakcyjnych wskaźnikach C/Z na 2011-2012, jeszcze nie został uwzględniony w cenie akcji. Chociaż napięty bilan ...
Read full report CEEMEA/CISUnknown — 03 sep 2010Ze względu na wolniejsze od oczekiwań tempo sprzedaży aktywów tempo restrukturyzacji bilansu zwolniło, a dodatkowe ryzyko stanowią operacyjne problemy litewskiej rafinerii. Sprzedaż strategicznych zapasów paliw postępuje zgod ...
Read full report BeneluxSR — 03 sep 2010SNS REAAL reported a 1H10 net profit of € 29m which fell short of our forecast (€ 98m) even when stripping out the € 68m goodwill charge at SNS PF. Retail Banking contributed € 79m (+23.4%), REAAL Insurance € 151m, Zwitserlev ...
Read full report BeneluxAGFB — 03 sep 2010Agfa’s 2Q results blew away our and consensus sales and profit forecasts thanks to strong sales growth, FX impacts, lower raw materials costs and some one-offs. 2Q10 was the first quarter since 2006 to show meaningful top lin ...
Read full report CEEMEA/CISUnknown — 03 sep 2010Reflecting lower restated 2009 net earnings (due to the Briz acquisition), higher marketing and depreciation costs, as well as slightly lower gross margins, we have cut our earnings forecast. On the other hand, we have raised ...
Read full report CEEMEA/CISUnknown — 03 sep 2010Przegląd informacji
TPSA: dzisiaj rozstrzygnięcie sporu z DPTG
KGHM: podwyższenie prognoz
Asseco: przejęcie na rynku amerykańskim
GTC: Nefryt i Topaz sprzedane
NG2: niezagrożona ...
Read full report CEEMEA/CISUnknown — 03 sep 2010Our positive view on Lotos runs contrary to the market. We believe the firm’s profit growth has yet to be fully priced-in, as reflected in attractive 2011-2012F P/E multiples. While the overstretched balance sheet poses risk, ...
Read full report CEEMEA/CISUnknown — 03 sep 2010Regional News Summary - In Brief
Poland
TPSA: Tribunal’s decision regarding dispute with DPTG expected today
KGHM: Management guidance update
Asseco: Details of US acquisition today
GTC: Agreement to sell Nefryt ...
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