LHG’ S 2023 AGM NOTE – STEADY, STABLE & SUSTAINABLE
- Long Hau set a business plan for 2023 with a projected revenue of VND 902.1 billion or $38.4 million, a 28.5% increase from the previous year, and an anticipated profit after tax of VND 127.05 billion or $5.4 million, a 37.7% decrease from the previous year actual figure..
- For the Capex plan, Long Hau continues to have ambitious plans with a total investment of up to VND 1,853.3 billion or $78.8 million (+23.1% YoY).
- In the long-term, progress of real estate projects seem to slow down as being impacted by master plan of the province, the Decree 35 and land use conversion policy, while LHG is accrelerating RBFs project in both Long Hau 3.1 IP and Da Nang High Tech park.
- We projected that the total revenue would be VND 126 billion or $5.36 million (+15% YoY) and NPAT-MI would be VND 45 billion or $1.91 million (-6% YoY) for the first quarter of 2023. Our FY2023 forecast for LHG’s revenue and NPAT will be VND 694 bilion or $ 29.5 million (+10% YoY) and VND 288 billion or $12million (+ 41% YoY)., respectively. While EPS will comes at VND 5,418.
- We maintain our target price of VND 33,000/share. Adding an annual cash dividend of VND 1,900 per share, the total expected return will be +38.7% (compared to the closing price of 04/20/2023).
Long Hau Corporation is a Vietnam-based company engaged in the real estate industry. It is involved in the development and construction of infrastructures for industrial zones and residential areas. The Company invests in the development of Long Hau Industrial Zone in Long An Province, as well as provides fresh water and waste water treatment services for plants inside Long Hau Industrial Zone. Other activities include the trading of construction materials, along with the offering of land clearing services, interior decorating services and real estate brokerage services. The Company has four affiliates.
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
RongViet Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, RongViet believes that our products would always be important sources of information for customers/investors’ investment decisions.”
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.