Company report

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• Company in-dept
• Company note

05

August

QTP – Earnings review – [BUY] – 2Q24 NPAT a decline significantly to 35% yoy

In 2Q24, QTP recorded revenue of VND3,628bn (-2% yoy). The main reason comes from the output’s QTP in 2Q24, which is estimated to decrease slightly by 2,034mn kWh (-2% yoy)....

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01

August

BID – Earnings review – [HOLD] – 2Q24 Solid earnings growth

BID posted positive business results with 2Q24 profit before tax of VND8,159bn, up 17%yoy thanks to 1) Higher operating incomes (+17%yoy) based on improvements in Net interest income (+10%yoy) and...

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30

July

FMC – Earnings review – [HOLD] – Solid foundations overcome challenges

In 2Q24, FMC released a VND1,243bn revenue (+20.7% yoy), including revenue’s shrimp products soared by 21.1% yoy thanks to the strong resurgence of export volume, whilst shrimp's ASPs still faced...

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25

July

NT2 – Earnings review – [HOLD] – NPAT improved, but outlook is not promising

In 2Q24, revenue NT2 recorded VND2,186bn, a sightly rise of 0.2% compared to the same period. The main reason comes from the improvement in the average selling price to VND2,132...

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25

July

TCB – Earnings review – [HOLD] – Consistent recovery

2Q24 PBT grew +38.5%yoy to VND7,827bn from a low-based 2Q23 thanks to (1) improvements in operating incomes for both net interest income (+50.6%yoy) and non-interest incomes (+30%yoy) (2) controlled operating...

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24

July

ANV – Brief – [NONRATED] – Earnings appear to be rebounding

In 2Q24, as our observation, NPAT-MI could show signs of bottoming out, but there has not been a significant improvement due to the glimmer selling prices.

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22

July

ACB – Brief – [NONRATED] – Tighten cost to keep profit growth

2Q24 PBT grew +16%yoy (to VND5,598bn) thanks to controls in operating expenses and risks provision expenses, per our estimation. 1H2024 PBT rose +5%yoy to VND10,491bn, completing 48% of the 2024...

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19

July

FPT – Brief – [NONRATED] – 2Q24: Positive growth with highlights on AI

In 2Q24, FPT’s revenue and PBT continued to climb up to VND15.2tn (+22.1% yoy) and VND2.6tn (+20.1% yoy) respectively. Technology continued to be the driver with revenue of VND9.6tn (+30.5%...

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03

July

ANV – Brief – [NONRATED] – 2024 AGM: Awaiting a breakthrough

According to the plan for 2024, revenue and NPAT of ANV could post to VND5,000bn (+12.6% yoy) and VND306bn reviving from the low base VND39.2bn (+6.8x yoy).

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