FMC – Earnings review – [HOLD] – Led by KAF…
In 4Q24, FMC posted a revenue of VND1,364bn (+8.9% yoy) and a NPAT-MI of VND110bn (+33.7% yoy). This result beat our forecasts due to FMC recorded (1) An exponential growth from Khang An Foods – KAF (a 51%-owned subsidiary of FMC) in both sales and gross margin, (2) Gaining from FX (VND49bn). Regarding to recommendations, we maintain HOLD rating for FMC.
Featured Analysis
Market commentary: Green start to the week
USDVND moves sideways ahead of the FOMC
Covered warrant: Liquidity increased again
Derivatives: Awaiting the next breakout
Market commentary: Testing the 10-period moving average
Chart of the day: Awaiting confirmation signal
Derivatives: Breakout session?
