REE – Brief – [NONRATED] – Profit gains through cost reduction

REE recorded a revenue of VND2,334bn (+15% yoy). The main reason comes from an improvement in M&E and Water segments. Hence, gross profit and NPAT amounted to VND1,015bn (+10% yoy) and VND883bn (+37% yoy), respectively, driven by (i) a 67% yoy surge in financial revenue to VND108bn, (ii) a 37% yoy decline in G&A expenses to VND197bn, and (ii) a 1,760% yoy increase in other income to VND8bn.