NT2 – Earnings review – [HOLD] – 3Q24 NPAT experienced robust growth
In 3Q24, revenue NT2 recorded VND1,711bn (+110% yoy) due to (1) the output grew significantly (+104% yoy) and (2) an improvement in the average selling price (FMP) in 3Q24 recorded VND1,207kWh (+12% yoy). In terms of profit, as the FMP is +12% yoy increasing faster than the gas price in 3Q24, which is still at a high level at 9.5 USD per mm/BTU (+3% yoy). As a result, gross profit and NPAT were recorded at VND59bn (3Q23: -VND132bn) and VND44bn (3Q23: -VND124bn), respectively.
Featured Analysis
Market commentary: Market recovery
Derivatives: Bull Trap?
GMD – Brief – [NONRATED] – Net profit contracts due to extraordinary loss
HAH – Brief – [NONRATED] – Record quarterly profit
BID – Earnings review – [BUY] – Improving earnings quality
GAS – Earnings Review – [BUY] – 4Q24: New sources of growth
ANV – Earnings Review – [HOLD] – 4Q24: The hardship dragged on
