PLX – Brief – [NONRATED] – Back on track

In 4Q24, PLX’s earning results bounced back after the Yagi trauma in 3Q24. PLX’s revenue grew by 3% yoy and 10% qoq (to VND71tn) as selling volume rose 8.4% yoy. Gross margin hit a peak of 6.5% (+0.7%p yoy and +1.1%p qoq) in 4Q24 thanks to less volatile Brent. 4Q24 NPAT-MI sit at VND545bn (-15% yoy, +728% qoq).