Sector and company

13

February

DGW – Brief – [NONRATED] – 4Q24: Unsurprisingly Good

In 4Q24, DGW reported a net revenue of VND5,859bn (+20.8% yoy), showing a continuing recovery from the 2023 bottom, while NPAT surged to VND146bn (+62.2% yoy) due to a lower...
Report (1)

13

February

Textile & Garment – Sector Note – [Nonrated] – On a growth track

In 4Q24, textile and garment sector continued a growth stance in both manufacturing and export activity. Particularly, clothing, fabric and yarn domestic production soared by a double-digit in 4Q24. Notably,...
Report (0)

12

February

BSR – Brief – [NONRATED] – 4Q24: Difficulties remain

4Q24 volume inched up 4% yoy per our estimates, at 2.1mn tonnes. Yet, revenue declined 14% yoy to VND36tn. 4Q24 gross profit turned positive but still poorly performed due to...
Report (33)

10

February

QTP – Earnings review – [BUY] – The high coal price harmed earnings

In 4Q24, QTP recorded revenue of VND2,884bn, +1.2% yoy. Of which: (1) The output’s QTP in 4Q24, which is estimated to be decreased by 12% yoy and (2) the full...
Report (3)

10

February

PLX – Brief – [NONRATED] – Back on track

In 4Q24, PLX's earning results bounced back after the Yagi trauma in 3Q24. PLX’s revenue grew by 3% yoy and 10% qoq (to VND71tn) as selling volume rose 8.4% yoy....
Report (34)

10

February

Fertilizer – Note – [Nonrated] – Boost exports amid sluggish domestic demand

In 4Q24, fertilizer supply was tight, with demand concentrated in the Mekong Delta. Revenue for listed companies was stable at VND21,498bn (+2.5% yoy), but NPAT-MI dropped to VND1,494bn (-55.8% yoy)...
Report (4)

08

February

Banking – Note – [NEUTRAL] – Magnificent earnings growth

Aggregated 4Q24 PBT (27 banks) surged +19.6%yoy, supported by all elements: Net interest incomes with a moderate growth (+11.0%yoy), a significant growth in non-interest incomes (+32%yoy), controllable OPEX (remained CIR...
Report (11)

07

February

NT2 – Earnings review – [HOLD] – NPAT experienced unfavorable results

In 4Q24, NT2's revenue was recorded at VND1,792bn, up 49% yoy as (1) A0 prioritized dispatching to compensate for the capacity shortage. Although NT2 recorded positively in output and the...
Report (0)

07

February

VHC – Earnings review – [BUY] – Better-than-expected NPAT in 4Q24

In 4Q24, VHC released a revenue of VND3,206bn (+33.8% yoy/ -2.2% qoq). Notably, Pangasius segment skyrocketed to VND1,850bn (+53% yoy/ -3.2% qoq) thanks to a rally in export volume. 4Q24...
Report (3)
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