GEG - Earnings Review - [HOLD] - 2Q26: Finance costs pressured earnings

Revenue and gross profit reached VND580bn (-7% yoy) and VND237bn (-13% yoy), respectively, mainly supported by the solar power segment. As a result, NPAT came in at VND8bn (-95% yoy), mainly due to (i) weaker earnings from the hydropower and wind power segments; (ii) a contraction in gross margin to 40.9% (-2.8%p yoy) from 43.7% in 2Q26