HDG – Brief – [NONRATED] – Energy supported growth trend while awaiting Charm Villas phase 3

HDG’s 3Q24 revenue amounted to VND567bn, up 23% yoy, driven by growth in both the energy and leasing & hotel services segments. Besides, the GP rose by 33% yoy to VND337bn, with a GM of 56.9% in 3Q24 (+4%p yoy). However, positive support came from (1) financial income in 3Q24 at VND17bn, showing a sharp rise of 59% yoy; and (2) interest expenses fell by 22%, positively contributing to a 20% yoy decrease in financial expenses. Hence, NPAT stood at VND182bn, up 83% yoy.