EAVEX Weekly
The earnings season for Ukrainian equities listed in Kyiv was mixed. Quotes for UkrNafta (UNAF) had little reaction to the company’s 2Q net profit as news regarding a penalty from the Anti-Monopoly Committee sent the stock 5% down to UAH 270. UkrNafta posted an EPS of UAH 29.22 for 1H21, implying a forward looking P/E of 5.3x. CentrEnergo (CEEN) reported somewhat better than expected profit for 2Q21, but it is still unclear whether the company will manage to end the year in the black. The CEEN stock closed at UAH 9.60, while the ask price increased by 3.0% to UAH 10.30 per share. TurboAtom (TATM) dropped by 6.7% to UAH 7.00 after the company unveiled a marginal net profit of UAH 2.19mn (EPS of UAH 0.005) for 1H21 compared to a net profit of UAH 192mn (EPS of UAH 0.45) in 1H20. TurboAtom’s top line revenue fell almost 30% YoY to UAH 625mn in 1H21. Meanwhile, Raiffeisen Bank Aval (BAVL) beat expectations, posting an EPS of 2.0 kopecks for 2Q21 compared to our forecast of the EPS of 1.1 k
