Company brief – review
15
August
CTG-Brief-[NONRATED]- Repeated constraint from higher provision expenses
2Q24 PBT only climbed by +3.0%yoy to VND6,750bn thanks to higher net interest incomes (+20%yoy) and controlled OPEX (2Q24 CIR: 26% vs 2Q23: 27%), compensating by a significant increase in...
15
August
GMD – Brief – [NONRATED] – Recovery momentum continued in 2Q24
In 2Q24, GMD reported a total revenue of VND1,181bn (+44% YoY) and a total container throughput of 1,086k TEUs (+46% YoY). GMD’s NPAT declined to VND418bn (-76% YoY) due to...
14
August
REE – Brief – [NONRATED] – NPAT dropped as the decline’s Utilities segment
REE recorded a revenue of VND2,181bn, an increase slight of 0.3% compared to the same period, while NPAT reached a decline strongly with VND404bn, a drop 35% yoy. The main...
14
August
VHC – Brief – [BUY] – Jul-24 Business results: A rosy growth of pangasius fillet exports
In Jul-24, VHC released monthly revenue which sat at VND1,120bn (+29% yoy and +9% mom). The impressive growth was mainly driven by pangasius products (VND608bn, +54% yoy and +24% mom)....
13
August
CNG – Brief – [NONRATED] – Positive earnings thanks to less depreciation
In 1H24 CNG revenue declined by 7% yoy, reaching 1,472bn as selling volume declined by 13% yoy. Despite those, Gross profit and NPAT grew strongly respectively by 22% and 25%...
13
August
FRT – Brief – [NONRATED] – Long Chau expanded, FPT Shop contracted
In 2Q24, FRT reported a revenue of VND9,327bn (+29.2% yoy; 108% of our forecast). Long Chau’s sales surged thanks to store expansion, while FPT Shop's sales improved thanks to higher...
07
August
VOS – Brief – [NONRATED] – 2Q24: Record quarter earnings result
In 2Q24, VOS reported a VND1.87tn revenue (+80% YoY). Significant ship depreciation in 2Q24 caused VND23bn gross profits loss, however, VND393bn pre-tax profits from oil tanker liquidation boosted NPAT to...
07
August
PVD – Earnings review – [BUY] – Solid core business in 2Q24
PVD’s 2Q24 revenue grew by 60% (VND2,254bn) with high day rates and high workload, NPAT-MI declined by 17% yoy but mainly due to the high base abnormal profit last year....
07
August
PNJ – Brief – [HOLD] – 2Q24: Sign of recovery
In 2Q24, PNJ reported a revenue of VND9,544bn (+43.2% yoy; 102% of our forecast), while NPAT rose to VND429bn (+28.4% yoy; 103% of our forecast). In 3Q24F, we think that...
Featured Analysis
HAH – Brief – [NONRATED] – Earnings bottom are confirmed
HDG – Brief – [NONRATED] – NPAT boosted by drop in interest expenses
VJC – Brief – [NONRATED] – Strong core business, new supplying incoming
Seafood: Pangasius market – Indepth – [Overweight] – The tide is turning
VCB- Earnings review-[BUY]- Enhancing asset quality
POW – Earnings review – [HOLD] – Positive results from the low base
HVN – Brief – [NONRATED] – Debt write-off saved bottom line
