GMD – Brief – [NONRATED] – Strong throughput growth, solid results
In 1Q25, GMD announced a total revenue of VND1,277bn (+27% YoY), in which, port operation generating VND1.14tn revenue thanks to solid throughput volume and fee increases. Gains from associates in 1Q24 soared to VND227bn (+132% YoY), in which, GML contributed VND160bn (+233% YoY) and SCS contributed VND58bn. Overall, NPAT reached at VND528bn, reflecting a 51% YoY growth when excluding the prior year’s divestment gains.
Featured Analysis
GMD – Brief – [NONRATED] – Strong throughput growth, solid results
Covered warrant: Cautious liquidity
TNG – Brief – [Non-rated] – Solid earnings amid tariff uncertainties
Derivatives: Declining liquidity
Market commentary: Liquidity declines
Market traders: Foreign net buying
ANV – Earnings review – [HOLD] – 1Q25: Earnings beat our forecasts
