![NLG-Earnings Review- [BUY] -Extra eye on the presale growth](https://kisvn.vn/en/wp-content/uploads/sites/2/2019/09/page-phantich-m.jpg)
21
October
NLG’s revenue boomed 484.1% yoy to VND882bn in 3Q22 driven property sale (VND857bn, +166.3x yoy). Contrary to spectacular revenue growth, net profit drop 82.7% yoy to VND51bn. On the contrary, we are concerned with the presale target. In 3Q22, the company reaped VND1,512bn presale value, prompting a VND9,922bn unbilled booking sales in 9M22. The amount is far below the full-year target of VND23tn.
21
October
STK announced 3Q22 IR News on Oct 20, which delivered a dismal performance. Specifically, the company posted 3Q22 business results with revenue of VND515bn (+10% yoy) and NPAT of VND50bn (-20% yoy). Overall, in 9M22, the company recorded revenue of VND1,686bn (+9% yoy) and NPAT of VND197bn (-3% yoy), fulfilling 65%/66% full-year guidance.
21
October
On Oct 20, TNH announced 3Q22 business results with a VND131bn revenue (+10% qoq and +5.3% yoy) and a VND44bn NPAT (+15.8% qoq but -26.4% yoy). In 9M22, the company posted revenue of VND338bn (+10% yoy) and a NPAT of VND98bn (-10% yoy), fulfilling 78%/65% of full-year guidance.
20
October
TNG announced 3Q22 IR News on Oct 19, which delivered positive business results. Specifically, the company posted 3Q22 revenue of VND2,018bn (+18% yoy) and NPAT of VND105bn (+23% yoy). Overall, in 9M22, the company achieved VND5,259bn (+29% yoy) in revenue and VND230bn in NPAT (+37% yoy) thanks to the recovered demand in main export markets including the US, and the EU.
20
October
QTP posted its decent 3Q22 business results with revenue of VND3,141bn (+59% yoy) and PAT of VND147bn (+72% yoy) thanks to increasing output. Overall, 9M22’s revenue and PAT were VND8,155bn (+31% yoy) and VND745bn (+88% yoy), respectively and completed 85%/ 171% of full-year guidance.
20
October
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.
19
October
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.
19
October
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.
19
October
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).
15
March
Regarding the impact of the global commodity price surge on Vietnam CPI, we estimate that the current value of Brent price could push 2022 inflation to exceed the government target of 4%, mainly through the consumption channel. However, implementing well-established tools allows the Vietnam government to mitigate external shocks proactively. To sum up, we forecast that the global commodity surge would create temporary pressure on Vietnam inflation.
27
December
Key factors that drive the stock market to rise in 2022 include: (1) the Vietnam economy recovering and strong growth in 2022 and (2) new money will continue to flow into the stock market as new cash flows into stock markets and new money comes from capital flows of securities companies to margin.
09
November
A record plunge in Vietnam’s economy in 3Q21 has threatened economic prospects in the medium and long term growth. The government is standing in a right place to mitigate the lingering impact of the current outbreak and the next ones if they take appropriate actions in an appropriate timing and appropriate way. Recent macro and policy developments are signaling that the ongoing economic recovery would be smooth and sound, but it needs a booster shot, a sufficiently large fiscal relief package, to accelerate recovery momentum and help economic growth back on track. From our view, the “Economic Recovery and Development” fiscal support package, if successfully passed, would be a key to unlocking the full potential of the economic recovery.
26
July
Amid a widespread COVID-19 delta attack in the Southeast Asia region, Vietnam is stepping into the worst outbreak in both its health and economic impacts. Although the government actively deployed various solutions to follow the twin target that effectively controls the pandemic and promotes socio-economic development, the negative impact of economic recovery is inevitable. We predict that the COVID-19 economic impacts on domestic consumption and production levels would be partly reflected in oncoming macroeconomic updates under strict lockdowns nationwide.
18
June
Surging commodity prices and increasing inflation recently pose a considerable risk to global economic stability. However, the majority of global economists and monetary policymakers just saw this phenomenon as a transitory factor, and this trend would eventually reverse to a normal track in the medium- and long- term. Regarding Vietnam's situation, we saw a stable demand-supply balance in major commodities and well-controlled price conditions. The inflation shock in the near term, if it happens, would be expected to be transient and bear a little risk to the economic stability.
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