Announcement.

DM BDM raises Eurocash's recommendation to "hold"

The report was issued at a price of PLN 20.2.
"The results of the second quarter were slightly better than we expected, and the management maintained the plan to complete the integration of the retail part in 2019, which should positively translate into results in 2020. Further optimization activities will also be carried out at EC Distribution" - it was written in report.
"On the other hand, the dynamics of results in 2020 may be hampered by a demanding labor market, loss of the contract for PKN Orlen and the likely introduction of a turnover tax. We are also cautious about the pace of development in the retail area," he added.
The material was developed by BDM Brokerage House on behalf of the WSE as part of the Stock Exchange Analytical Coverage Support Program.
The author of the report, which was first available on September 3 at 14.00, is Adrian Górniak.

Source: company website, investor relations, current and periodic reports.

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Company information
Company name:Eurocash SA
ISIN:PLEURCH00011
NIP:779-19-06-082
Adress: ul. Wiśniowa 11 62-052 Komorniki
Phone:+48 61 6513300
website:www.eurocash.com.pl

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