VNM – Brief – [HOLD] – 2Q24: Results of brand repositioning
In 2Q24, VNM reported net revenue of VND16,656bn (+9.6% yoy; 104% of our forecast) attributed to positive sales in both domestic and oversea markets. VNM’s blended gross margin rose to 42.4% (+200 bps yoy) thanks to raw material costs. Hence, NPAT to surge to VND16,656 (+20.9% yoy).
Featured Analysis
Covered warrant: Liquidity continues to improve
Market commentary: Liquidity increases
Derivatives: Breakout session
Growth navigates new uncertainties
Market commentary: Late-session demand momentum
Derivatives: Continued consolidation
Chart of the day: New high formed
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