BSR – Brief – [NONRATED] – 4Q24: Difficulties remain
4Q24 volume inched up 4% yoy per our estimates, at 2.1mn tonnes. Yet, revenue declined 14% yoy to VND36tn. 4Q24 gross profit turned positive but still poorly performed due to unfavorable crack spreads. 4Q24 NPAT was negative at -VND89bn.
Featured Analysis
Market commentary: Strong foreign net selling
Market commentary: Market reversal
Derivatives: Profit-taking pressure?
Market commentary: Demand spread across the market
Derivatives: End of consolidation phase?
SBV begins to enact its stimulus measures
Covered warrant: Positive signals in the CWs market
