PVD – Earnings Review – [BUY] – 4Q24: Rising pressures
PVD’s 4Q24 revenue grew by 60% yoy (VND2,789bn, 112% of KIS forecast), but gross profit plummeted 10% yoy to VND359bn (71% of KIS forecast) owing to poorer day rates. 4Q24 NPAT-MI pushed by abnormal income and FX gain beat our forecast.
Featured Analysis
Derivatives: Increasing selling pressure
Market commentary: Supply pressure well-absorbed
Derivatives: Bottom-fishing capital inflows
Derivatives: Declining liquidity
Market commentary: Real Estate supports market
Interbank rates drop on SBV’s repo rollover
New long-term uptrend?
