GDA – Brief – [NONRATED] – 2Q26: Headwinds Persist

In 2Q26, GDA recorded revenue of VND3,066bn (-28.0% YoY and -14.6% QoQ). Total sales volume in 2Q26—estimated from selling price and COGS trends—declined ~31.6% YoY. Average selling price (ASP) was estimated at USD842/ton (+5% YoY, +16% QoQ). 2Q26 NPAT reached VND92bn (+5% YoY, +82% QoQ).