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Assessing Downside Risks to Grodno's Financial Forecasts: Volatility in Product Prices and Disruptions in Demand and Supply

Assessing Downside Risks to Grodno's Financial Forecasts: Volatility in Product Prices and Disruptions in Demand and Supply
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Risk to financial forecasts. Given the Company’s weaker yoy sales in recent months we expect the pressure on margins to continue, hence the downside risk to our forecasts cannot be precluded. The key question pertains to the scale of the electrotechnical market slowdown in the upcoming quarters and then new initiatives supporting the RES segment or modifications of the existing support programs.

 

■ Recommended action. High volatility of product prices and disruptions in demand and supply do not support the profitability stabilization. Hence, the visibility of Grodno’s financial results in the upcoming quarters will not be high and we maintain our neutral stance towards Grodno’s equities.

 

assessing downside risks to grodno s financial forecasts volatility in product prices and disruptions in demand and supply grafika numer 1assessing downside risks to grodno s financial forecasts volatility in product prices and disruptions in demand and supply grafika numer 1


GPW’s Analytical Coverage Support Programme 3.0

GPW’s Analytical Coverage Support Programme 3.0

The Warsaw Stock Exchange's (GPW's) Analytical Coverage Support Programme 3.0 supports investment firms in drafting analytical reports which are financed by GPW. The objective of the Programme is to improve the availability of research covering less liquid companies, facilitating investors' informed investment decisions based on a reliable independent source of issuer information. Eligible to participate in the Programme are companies listed on the GPW Main Market (other than WIG20 participants) and on NewConnect. The Programme covers up to 50 issuers.

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