Company brief – review

25

September

MWG – Brief – [HOLD] – BHX expanded after a long wait

In Aug 24, BHX opened 17 stores to increase the total number to 1,721 stores (+23 stores YTD), which is faster than the open of 2 – 3 stores in...
Report (6)

17

September

HAH – Brief – [NONRATED] – Earnings bottom are confirmed

For 6M24, HAH reported total revenue of VND1,653bn (+31% YoY) and NPAT-MI of VND171bn (-21% YoY), fulfilling 59% of the year earnings guidance. The latest data from Liner Analytics shows...
Report (3)

06

September

HDG – Brief – [NONRATED] – NPAT boosted by drop in interest expenses

In 2Q24, HDG recorded revenue of VND560bn, slightly down by 8% yoy due to the impact of declining revenue in both the real estate and energy segments. Besides, gross profit...
Report (1)

04

September

VJC – Brief – [NONRATED] – Strong core business, new supplying incoming

In 2Q24, VJC operated 35.7 thousand flights (+10.2% YoY), carried 6.8mn passengers (+1.5% YoY), and reported a VND16.2tn revenue (-2.3% YoY). VJC reported better earnings results than our forecast of...
Report (3)

30

August

VCB – Earnings review – [BUY] – Enhancing asset quality

2Q24 PBT rallied +9.0% yoy to VND10.1tn thanks to a decrease in operating costs (-9.4% yoy) and provision risk expenses (-40.3% yoy). Accumulated 1H24 PBT posted VND20.8tn, up +1.6%yoy, equalling...
Report (3)

26

August

POW – Earnings review – [HOLD] – Positive results from the low base

In 2Q24, POW recorded revenue of VND9,407bn (+9% yoy). The primary growth driver of commercial output reached 4,825mn kWh, up 11% compared to the same period. In which, Vung Ang...
Report (2)

22

August

HVN – Brief – [NONRATED] – Debt write-off saved bottom line

In 2Q24, HVN carried 5.8mn passengers (+14% YoY) and reported a VND24.9tn revenue (+20% YoY). NPAT increased to VND1.0tn, however, excluding profits from the debt write-off in 1Q24 and 2Q24,...
Report (1)

20

August

MWG – Brief – [HOLD] – BHX would open 50 – 100 stores in 2H24F

In 2Q24, MWG reported a net revenue of VND34,134bn (+15.8% yoy; 102% of our forecast), while NPAT increased to VND1,173bn (+66x yoy; 113% of our forecast). In 2Q24, BHX posted...
Report (0)

16

August

DGW – Brief – [NONRATED] – Highlight of laptops

In 2Q24, DGW reported a revenue of VND5,008bn (+9.0% yoy). However, NPAT stayed flat at VND88bn (+0.8% yoy) as SG&A ratios remained high
Report (1)
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