20
10月
On October 18th, Tien Phong Securities (ORS) announced financial report for 3Q22. Revenue was VND550bn (-17% qoq, +57% yoy) and net profit was VND71bn (+138% yoy). In 9M22, ORS recorded a VND2,022.6bn revenue (+127% yoy) and a VND163bn net profit (-9.6% yoy). The company completed 102% of revenue guidance but lagged behind profit guidance by 33% due to a large loss in 2Q22.
20
10月
Imexpharm (IMP) issued 3Q22’s business results on Oct 18, with a revenue of VND418bn (+63% yoy and +18% qoq) and a NPAT of VND56bn (+81% yoy and +19% qoq). 9M22 revenue and NPAT were VND1,087bn/VND155bn (+25%/+27% yoy), fulfilling 52%/48% of their annual guidance.
20
10月
HND posted its 3Q22 business results with revenue of VND3,070bn (+40% yoy) and PAT of VND41bn (+559% yoy). This implies that 9M22’s revenue and PAT were VND8,273bn (+22% yoy) and VND578bn (+216% yoy), respectively and completed 78%/ 102% of full year guidance.
20
10月
On Oct 18, DHG announced 3Q22 business results with a VND1,162bn revenue (+4% qoq and +23% yoy) and a VND262bn NPAT (+12% qoq and +30% yoy), due to the low base in 3Q21. In 9M22, DHG posted the revenue of VND3,346bn (+15% yoy) and the NPAT of VND752bn (+24% yoy), fulfilling 74%/83% of their full year guidance.
20
10月
On Oct 19, DGC posted 3Q22 business results with a revenue of VND3,696bn (-7.6% qoq and +75.5% yoy), 9% lower than their 3Q22’s target, and a NPAT of VND1,514bn (-20% qoq and +210% yoy), 16% higher than the target. In 9M22, DGC recorded a VND11,332bn revenue (+86% yoy) and VND4,917bn NPAT (+342% yoy), fulfilling 94%/140% of their full-year guidance.
20
10月
FPT released preliminary 9M22 business results with revenue of VND31tn (+24.1% yoy) and PBT of VND5,7tn (+23.8% yoy), fulfilling 73% and 75% of its 2022 guidance, respectively. For 3Q22, the company achieved revenue of VND11.1tn (+27.6% yoy), and VND2.1tn PBT (+31.2% yoy).
18
10月
In September, TCM posted robust business results with revenue of USD15.2mn (+91% yoy) and NPAT of USD0.95mn (versus a loss of USD0.6mn in September 2021 due to the lockdown in the Southern region). Overall, in 9M22, the company achieved USD142.9mn (+25% yoy) in revenue and USD9mn in NPAT (+85% yoy), fulfilling 79.4% and 86% of its 2022F guidance, respectively.
13
10月
This monthly report on Vietnam steel production is intended to track the developments in the steel market. During Sept 22, we observed an improvement in domestic demand while export sales volume was still sluggish.
30
9月
According to the GSO estimate, in Sep, the total agriculture export value is USD1,526mn (-5% mom and -1% yoy). Except rice and cassava remain at the same level as the last month, most agriculture products record a decrease in export output. According to the Thai Post, Thailand and Vietnam could increase the export price by 20% compared to the current level. However, Vietnam Government has not yet confirmed it.
29
9月
In Aug 2022, TLG revenue escalated 275% yoy to VND300bn, however, decreased 6% mom, as compared to the revenue in 7M22 of VND318bn. NPAT in Aug 2022 dropped by 32% mom to VND39bn but stayed positive on the yoy basis as TLG made a loss of VND28bn in Aug 2021. Back to school season promised to bring fruitful sales to TLG in 3Q22. Not to mention the lauch of new modern lines Colorkit and Pazto, which were supported by intense marketing campaigns in August and Sep 2022.
24
8月
U.S July Retail sales and Vietnam T&G exports According to the latest data from the U.S. Census Bureau, retail sales in the U.S. increased by 0.7% MoM in July of 2023, marking a fourth consecutive rise, and beating market forecasts of a 0.4% increase. In more detail, US clothing store sales grew 1.34% YoY in July, slightly decelerated from 2.69% in June, but remain higher than the one-year slowest growth of 0.32% in April. The potential upturn in US clothing sales, given a relatively strong correlation with Vietnam T&G exports, subsequently benefiting this export sector in the latter half of 2023.
02
8月
July’s data revealed a substantial improvement in economic activities with a softer decline in export turnover, an improving industrial production, and a renewed acceleration in retail sales. On one hand, U.S. consumers tend to regain their confidence during the late phase of the global interest rate hike, fastening the resolution of the overstocking and consequently promoting Vietnam’s export activities. On the other hand, retail sales recorded a higher growth rate than in June coupled with moderate inflation after a series of easing fiscal policies, likely reflecting an expanding demand. We predict economic performance to improve further next month due to softening external headwinds and expanding domestic demand.
28
7月
Although the economic performance picked up in 2Q23 in the late stage of the global interest rate hike, we believe that the acceleration of economic activities will need more time to be material due to the insignificant improvement of external factors and the weakening recovery in domestic consumption. On the upside, public investment will continue to be a spotlight in 3Q23 thanks to the government's effort in realizing the significantly higher workload than last year. In addition, the well-controlled inflation and stable exchange rate provide more space for the monetary authority to follow the easing tendency in the next quarter.
13
7月
Although the economic performance picked up in 2Q23 in the late stage of the global interest rate hike, we believe that the acceleration of economic activities will need more time to be material due to the insignificant improvement of external factors and the weakening recovery in domestic consumption. On the upside, public investment will continue to be a spotlight in 3Q23 thanks to the government's effort in realizing the significantly higher workload than last year. Investment opportunities exist in Power and Agriculture, Seafood industries that backed by El-Nino and China consumption themes. Besides, crushed stone industry also offers a lucrative choice from 3Q23 for those investors seeking for rising public spending theme. We expect the target range for VNIndex in 2H23 to be 1,260-1,340 points.
30
6月
GSO’s June report shows a slight acceleration in economic performance for the second quarter of 2023. Although the economic growth surpassed the downgraded market assessment, it is far from the expected value in the eco-socio tasks. For the latest update in June, export activities deteriorated under the persistent slowdown in the consumption of Vietnam’s major trading partners, showing challenges for the economy to speed up. Regarding domestic factors, the recovery momentum in post-pandemic exhausted with retail sales much lower than the potential level. In the short term, we predict public investment will mainly support economic growth before material improvement in external factors occurs.
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