Q2 2024-Mobile World Investment Corporation (MWG VN)
Q2 2024 earnings report with positive results. Consolidated net revenue of VND34,134 billion (about USD1.35 billion, up +15.8%YoY), net income of USD1,172 billion (about USD46 million, up +6,637% YoY), and the company already completed 52% and 86% of total projected revenue and net income respectively in FY2024. Dien May Xanh (DMX) with 2,093 brick-and-mortar stores and an online channel contributed 46.9% of total revenue in 1H.2024, followed by Bach Hoa Xanh (BHX) with 29.7% of total revenue and 1,701 stores. According to the consolidated financial statements, the accumulated deficit of BHX decreased by about VND7 billion compared to the previous quarter, and it may indicate that BHX stores generated profits in Q2.2024. MWG VN closed at VND63,000 per share on 30 July 2024, up +80.9% from its 52-week low of VND34,820 per share last year after Q3.2023 earnings call with consecutively disappointed operating results, but still distanced from it's all-time high of VND78,200 per share in April 2022.
Q2 2024-Tien Phong Plastic JSC (NTPVN)
The #2 ranked country PVC pipeline manufacturers reported their Q2 2024 business results with considerably positive changes. Consolidated net revenue of VND1,680 billion (about USD66 million, up 37.3% YoY), profit before tax (PBT) of VND285 billion, net income of VND238 billion (about USD9.4 million, up +85.8% YoY), and the company already completed 50% and 75% of total projected revenue and PBT in FY2024. The low price of PVC powder, HDPE compounds, and other materials in the last 12 months benefited Tien Phong Plastic as well as other plastic companies. Following the proposed plan, the plastic company expected to sell 104,000 tons of plastic products and to spend VND190 billion for regular maintenance and PP&E investment. NTP VN closed at its all-time high of VND62,500 per share on 30 July 2024, up +108.7% from its adjusted 52-week low of VND29,940 per share in October 2023.
Quang Trach - Pho Noi 500kV Line Expected To Be Operational Q3 2024
The 519 kilometer long line runs through three provinces and is expected to increase national energy security for the nation. Major construction milestones has been reached and the project is entering its final stages of construction. Prime Minister Pham Minh Chinh has requested Vietnam Electricity (EVN UL) and its related subsidiary the National Power Transmission Corporation (EVNNPT UL) to carry out the remaining construction with haste in order to meet the targeted operational launch in Q3.
Investor can see the full Newsletter below: