GAS – Earnings Review – [BUY] – 1Q25: Bad debt eased
GAS’s 1Q25 revenue rose 10% yoy to VND25.7tn, fulfilling 95% of KIS’s forecast. Gross profit reached VND4.09tn, slightly exceeding expectations at 103% of our forecast. Notably, GAS made no further provision for doubtful receivables in 1Q25. 1Q25 NPAT grew by 9% yoy to VND2.76tn, surpassing our forecast at 118%.
Featured Analysis
Derivatives: Tests historical peak
Market commentary: Return to upward trend? week
Derivatives: Upward trend returns?
Covered warrant: Liquidity rebounded
SBV returns to net injections as credit growth hits a record high
Market commentary: Narrowing losses
Derivatives: Liquidity surges
