Vinh Hoan Corporation (VHC VN) - October operating results
According to the October IR newsletter, Vietnam's leading pangasius exporter reveals October net revenue of VND1,206 billion (about USD47.5 million, up +59% YoY). The US market was the key revenue driver with 161% growth rate and accounts for 37% of total revenue, followed by Domestic market with 23% proportion of top line but only 22% growth rate. Breakdown by products, pangasius (VINH Foods) is still the dominant factor, bringing to the firm VND755 billion (about USD29.8 million, up +70% YoY) while healthcare products (VINH Wellness) records a lower sales volume. VHC VN closed at VND73,800 per share on 14th November 2024, slightly down -6.9% from its 52-week high in March 2024, thus 19.4x P/E and 1.9x P/B.
Viettel Construction (CTR VN) - Estimated results for October
In October, the company had revenue of VND1,250 billion (about USD49.2 million, up +11% YoY) but pretax earnings of VND62 billion (about USD2.4 million, down -7% YoY). Consequently, Viettel Construction completed 82% and 81% of its FY2024 projected revenue and profit, respectively. For 10M 2024, the Network Operation segment is still the largest proportion of revenue with value of VND5,062 billion (about USD199.4 million, 49%, up +9% YoY) and Construction segment is the 2nd largest with VND3,349 billion (about USD131.9 million, 32%, up +19% YoY). CTR VN clased at VND132,900 per share on 14th November 2024, down -15.3% from its 52-week high in June, hence 28.6x P/E and 9.0x P/B.
VinFast, a member of Vingroup (VIC VN) - Vietnam best-selling car brand YTD 2024 VinFast delivered over 11,000 electric cars in October 2024, accumulating a total sales. volume of over 51,000 cars year-to-date, surpassing both Hyundai and Toyota on the ranking table to take number 1 position in sales volume. The trendy and affordable VF3 is the key driver behind VinFast's success story with nearly 5,000 cars sold, nearly double compared to the multi-functional VF5, mostly used for taxi business. Currently, VinFast has been selling 7 different types of electric car, ranging from affordable VF3 to luxurious SUV VF9. VIC VN closed at VND40,700 per share on 14th November 2024, marginally up +0.7% from its 52-week low just a day before, thus 16.3x P/E and 1.2x P/B.
IFC, a member of The World Bank Group: Total committed capital in Vietnam for fiscal year 2024 (ending on 30th June 2024) clocked at over USD1.6 billion, in which USD750 million was classified as long term investment (USD$310 million being green investing).
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