PHR – The story of land conversion is gradually being unraveled
• PHR is gradually realizing the land conversion plan for projects in Binh Duong province, including: 1/ Ho Chi Minh City – Thu Dau Mot – Chon Thanh expressway project (Phu Giao 3 Industrial Park), 2/ industrial park project invested by Thaco (Tan Lap 1 Industrial Park).• The rubber segment is expected to play a key role in the business performance in 2025, thanks to high selling prices (around VND 50 million/ton, +15% YoY) and stable consumption demand.
• We estimate PHR's revenue and NPAT-MI in 2025 to reach VND 1,819 billion (+11.4% YoY) and VND 608 billion (+29.5% YoY), respectively.
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