HDG – Brief – [NONRATED] – NPAT boosted by drop in interest expenses

In 2Q24, HDG recorded revenue of VND560bn, slightly down by 8% yoy due to the impact of declining revenue in both the real estate and energy segments. Besides, gross profit decreased 9% yoy, reaching VND282bn, with a gross margin of 50.4% in 2Q24 (-0.8 %pt yoy). However, thanks to a sharp drop in interest expenses to VND86.4bn (-32% yoy). As a result, NPAT recorded VND111bn, achieving a 46% yoy increase in 2Q24.