📢 Weekly Blast #15 (08-12Apr2024) [FREE]

Snapshot of actionable insights from Polish stock exchange

Apr 12, 2024

👋 Welcome to the Weekly Blast - a snapshot of actionable insights from the past week you don't want to miss: recommendations, insider trading, company updates, significant contracts for small & mid caps, M&A activities, upcoming events and trends.

In today's edition:

💡 Recommendations

#brand24: TP 56,20 pln

#toya: TP 11,50 pln

#ifirma: TP 21,40 pln

🛒 Insider Trading

#kruk: sell

#adatex: buy

#analizy: sell

#vrfabric: buy

#standrew: buy

#redcarpet: buy

#bnpparibas: sell

#selvita: sell

#genomed: buy

#huuuge: buy

#inpost: PPF from Advent substantial holding notification

#BankMillennium

Bank Millennium expects a legal risk reserve related to foreign currency mortgage loans granted in the first quarter of 2024 to amount to PLN 507 million. The management anticipates a positive net result for the bank during this period.

#Orlen

Orlen, after conducting impairment tests on Orlen Lietuva's assets, will recognize PLN 0.1 billion in write-downs in the financial statement for the group for 2023, mainly in the Refinery segment. The company plans to build a publicly accessible hydrogen refueling station at the F. Chopin Airport in Warsaw.

#ArtifexMundi

Artifex Mundi estimates its revenue in March to be PLN 9.7 million, a 55% increase year-on-year. Revenue from the commercialization of its flagship product "Unsolved" increased by 75% to PLN 8.9 million, resulting in a 138% increase in the level of the first margin year-on-year to PLN 4 million.

#DomDevelopment

Dom Development has started the implementation of over 300 units in Mokotów and Ursus in Warsaw.

#Telestrada

Telestrada invites offers for the sale of a maximum of 66,666 shares of the company. Priority will be given to ordinary shares offered for repurchase at PLN 60 each, and if privileged shares are repurchased, their repurchase price will be PLN 90 each.

#ATMGrupa

ATM Grupa recommends an additional dividend payment of PLN 0.12 per share. In December, the group paid an advance on the dividend for 2023, amounting to PLN 0.08 per share.

#GetinHolding

The National Bank of Ukraine has maintained a ban on exercising voting rights in Idea Bank Ukraine by Getin Holding.

#Monnari

Monnari Group estimates that in the first quarter of 2024, it had approximately PLN 72.1 million in revenue, an 8.8% increase year-on-year.

#SfinksPolska

Sfinks Polska recorded a 7.4% year-on-year increase in gastronomic sales in the first quarter of 2024 to PLN 47.48 million net. For a comparable network of premises, the increase was 9.5% year-on-year. In 2024, Sfinks may open a total of 20-30 new restaurants.

#Kruk

Piotr Krupa, the CEO of Kruk, sold 10,000 shares of the company for a total of approximately PLN 4.43 million. In the first quarter of 2024, Kruk spent PLN 335 million on debt portfolios, 36% less than the previous year. The value of repayments from the management of portfolios acquired by the group increased during this period by 18% to PLN 856 million and were 14% higher than the accounting assumptions.

#Pekao

Bank Pekao, after completing the demand book-building process, has resolved to issue unsecured senior bonds series SN3 with a total nominal value of PLN 500 million. The bank announced this in a statement.

#Budimex

Budimex's board recommends a dividend payment of PLN 35.69 gross per share. The company has signed a contract with PKP PLK for the design and construction of new substations on the railway line no. 38 on the Ełk-Korsze section, with an offer value of PLN 233.1 million net.

#InterCars

Inter Cars reported consolidated revenues of PLN 1.5326 billion in March 2024, a year-on-year decrease of 2.4%. Since the beginning of the year, the group has generated revenues of PLN 4.388 billion, 7.6% more than the previous year.

#mBank

The updated target MREL requirement for mBank at the consolidated level, excluding mBank Hipoteczny from consolidation, amounts to 15.36% of the total risk exposure amount (TREA).

#DrozapolProfil

Drozapol-Profil has increased the price in the call from PLN 3.85 to PLN 4.10 per share, as informed by Trigon Dom Maklerski, which is mediating the call.

#Atman

Atman has secured PLN 1.35 billion in credit for the expansion of data centers, signed by 6 financial institutions from Poland and Europe.

#Murapol

In the first quarter of 2024, Murapol sold 769 units to retail customers, based on development and preliminary agreements, excluding reservations, compared to 729 the previous year.

#Comperia

Comperia.pl invites offers for the sale of up to 400,753 own shares at PLN 6.60 each.

#CaptorTherapeutics

Captor Therapeutics has secured financial resources to continue operations until the third quarter of 2025. The company assesses that it has a strong cash position and does not plan to raise funds through equity in the near future.

#Polenergia

Polenergia and Equinor have submitted an application for an environmental decision for the connection infrastructure of the Baltic I offshore wind farm.

#Medinice

Medinice has secured financial resources to continue operations until the end of 2024, as assessed by company representatives at the GPW Innovation Day conference.

#eBilet

In the first quarter of 2024, eBilet increased ticket sales by 65% year-on-year.

#InPost

InPost Pay, a service combining payment and delivery, has gained a million users. The company estimates that the solution can increase purchase conversion from 30% to 70%.

#Wojas

Wojas shareholder AM Invest intends to announce a compulsory buyout of the company's shares held by minority shareholders to achieve 100% of the total number of votes in the company. The buyout price will be PLN 8.20 per share.

#Synektik

The Czech subsidiary of Synektik has a contract with the University Hospital in Pilsen for the sale, delivery, installation, and servicing of the da Vinci robotic system for minimally invasive surgery for USD 3.9 million.

#Sunex

Romuald Kalyciok, president and shareholder of Sunex, lent the company PLN 5 million, which will be allocated for acquisitions and investments in expanding production capacities.

#MercatorMedical

Mercator Medical estimates a consolidated net profit of PLN 9.9 million in the fourth quarter of 2023, compared to a net loss of PLN 206.8 million the previous year and a net loss of PLN 20.1 million in the third quarter of 2023.

#OdlewniePolskie

Odlewnie Polskie wants to pay out PLN 10.05 million in dividends from the net profit for 2023, which is PLN 0.50 per share.

#Decora

Decora estimates that the group's consolidated net profit in the fourth quarter of 2023 increased by 96.4% year-on-year to PLN 16.5 million, and EBITDA was higher by 53% at PLN 25.1 million.

#Sygnity

Sygnity aims to conduct 3 to 5 acquisitions annually, as informed by CEO Maciej Różycki at a press conference.

#Pesa

Pesa has signed a contract for the delivery of the first 2 out of 7 electric multiple units for the Kujawsko-Pomorskie Voivodeship. The cost of one unit is PLN 47 million.

🤝 Significant contracts (small & mid caps)

#Synektik SA's subsidiary, SYNEKTIK Czech Republic, s.r.o., has signed significant contracts with the University Hospital in Pilsen, Czech Republic, for the sale, delivery, installation, and commissioning of a robotic system for minimally invasive surgery (da Vinci), as well as staff training and service support.

#MIRBUD S.A. has been selected as the best bidder for designing, constructing, and operating the Sports and Recreation Center in Olechów-Janów, Łódź, Poland, with a construction value of PLN 101,475,000 gross and a 20-year maintenance contract worth PLN 29,520,000 gross.

#Selvita S.A., a company based in Krakow, Poland, has received a significant 18-month integrated drug discovery order worth 3,348,577 EUR from a European biotechnology company to optimize a lead molecule for an immuno-oncology drug discovery project.

#Pekabex BET S.A., a subsidiary of Poznańska Korporacja Budowlana Pekabex S.A., signed a significant construction contract with IONWAY POLAND Sp. z o.o. to build a factory for producing electric battery components in the Opolskie Voivodeship.

#Newag received an order from the Silesian Voivodeship for four additional electric multiple units with a net value of PLN 156,828,000.

#Agora S.A. announced the signing of an annex extending the bus shelter construction and operation concession agreement in Warsaw by AMS S.A. until June 10, 2025.

🔀 M&A, uplisting, delisting

#BENEFIT: Second notification to shareholders about the intention to merge Benefit Systems S.A. with: (i) Total Fitness sp. z o.o.; (ii) Saturn Fitness Group sp. z o.o.

#WOJAS: Submission by a shareholder of the Company of a notification of intention to announce a mandatory buyout of the Company's shares

#Drozapol: raises the price in the tender offer to 4.1 PLN per share