Company report

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04

November

POW – Earnings Review – [HOLD] – Earnings could stay resilient in 4Q24F

POW’s 3Q24 revenue sustained at VND6,061bn, +7% yoy. Notably, NPAT skyrocketed 765% yoy to VND453bn. Key contributing factors were (1) 3Q24 exchange rate gains VND227bn (3Q23 VND0.25bn); (2) absence of...

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04

November

BID – Earnings review – [HOLD] – 3Q24 Cost mitigation

BID posted 3Q24 profit before tax of VND6,498bn, up +10% yoy (from a low base 3Q23)/ -20% qoq. Overall, 3Q24 earnings resulted from (1) lower provision expenses (-25% yoy, -17%...

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04

November

VNM – Brief – [HOLD] – 3Q24: Recovery faced short-term challenges

In 3Q24, VNM reported net revenue of VND15,537bn (-0.6% yoy, -6.7% qoq), in which domestic revenue sit at VND12,928bn (-2.4% yoy, -4.4% qoq) and oversea revenue came in at VND2,609bn...

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02

November

GMD – Brief – [NONRATED] – Highest NPAT of Gemalink

In 3Q24, GMD reported a total revenue of VND1,264bn (+7% QoQ, +26.7% YoY), in which, revenue from port operation rose to VND1.2tn thanks to solid throughput volume and fee increases....

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01

November

HAH – Brief – [NONRATED] – Outstanding net profit growth

In 3Q24, HAH reported a VND1,129bn revenue (+19.1% QoQ, +63.0% YoY). 3Q24 gross margin (GPM) rose to 27.5% primarily through the hike in container rates, operating margin (OPM) and net...

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01

November

VHC – Earnings Review – [BUY] – Industry-leading recovery performance

In 3Q24, VHC released a revenue of VND3,278bn (+21.5% yoy/ +2.6% qoq). Specifically, pangasius segment posted to VND1,912bn (+32.6% yoy/ +10.9% qoq). 3Q24 gross margin strongly sat at 17.6% (+7.1%p...

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01

November

GAS – Brief – [NONRATED] – Retreat on the low season

GAS's 3Q24 revenue came in at VND25.3tn (-16% qoq, +14% yoy). Gross profit (GP) was accordingly at VND4.18tn (-13% qoq, +14% yoy), while gross profit margin (GPM) sits at 16.6%...

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31

October

PVD – Earnings Review – [BUY] – Keep up the momentum

PVD’s 3Q24 revenue grew by 77% yoy (VND2,438bn, 104% of KIS forecast), attributed to high workload. NPAT-MI, accordingly, rose by 21% yoy to VND182bn, fulfilling 110% of our forecast.

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30

October

QTP – Earnings Review – [BUY] – Waiting for new cycle

In 3Q24, QTP recorded revenue of VND2,386bn (-5% yoy,). The main reason comes from the output’s QTP in 3Q24, which is reported to decrease slightly compared to the same period...

Report (5)