RMG - 1H 2012 IFRS from MRSK Volga, Sep 3, 2012.
We view the results as promising as the company showed higher EBITDA and net margins than our model suggests (12% and 3.6%, respectively). MRSK Volga confirmed its strong fundamental profile compared to the majority of other companies in the Russian electricity distribution sector. Along with MRSK Center and MRSK Center&Volga, the company remains in the list of our top picks with 65% upside based on current quotes.
Rye, Man & Gor Securities
Copyright: Rye, Man & Gor Securities, All rights reserved.
For further Information please contact: Rye, Man & Gor Securities,
Posledniy Pereulok 17, Moscow 107045, Russia
Tel: +7 495 258 62 62, Fax: +7 495 258 62 26
Websites: http://www.rmg.ru, e-mail: firstname.lastname@example.org
|Printer friendly Cite/link Email Feedback|
|Publication:||Russian Banks and Brokers Reports|
|Date:||Sep 3, 2012|
|Previous Article:||UFS Investment Company - Technical Analysis, Daily, Sep 3, 2012.|
|Next Article:||[ETH][ETH][ETH][ETH] - [ETH][pounds sterling]N,N[euro][ETH][micro][ETH]1/2[ETH]1/2[ETH][cedilla][ETH][sup.1] [ETH]3/4[ETH][+ or -][ETH][middle...|