Company brief – review
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...
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,...
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...
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
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%...
Featured Analysis
Derivatives: Breakout Signal?
Market commentary: Maintaining the green territory
Market commentary: Positive performance
Market commentary: Positive performance
Derivatives: Dominated by green
REE – Brief – [NONRATED] – Profit gains through cost reduction
PNJ – Brief – [Non-rated] – Challenges still ahead
