Viet Dragon Securities - Analyst Pin-board 3Q Earnings Update

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Viet Dragon Securities

Analyst Pin-board 3Q Earnings Update

Some findings about Q3 earnings (based on 590 companies that have announced their results):

Banks grew at a slower rate than previous quarters (17% YoY). This is in line with what we expected; earnings of this sector seemed to peak in 1H 2018.
Earnings of Real estate stocks, such as NLG, NVL and DXG surged as companies recognized profits this quarter.
PVS profited from the Sao Vang Dai Nguyet project in Q3. PVS and PVD also had a reversal of provision. This boosted the earnings of the Oil & Gas sector considerably (Including PVB, PVC, PVD, and PVS).
Basic materials stocks did not do well. Almost all steel companies (HSG, NKG, VIS, POM, and TLH) struggled due to higher input prices and higher competition. HPG is the only exception.

02/11/2018 4 EN

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Viet Dragon Securities

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.”

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Analyst Pin-board 3Q Earnings Update

EFFORT TO GAIN

TESTING THE RESISTANCE AREA

VCB – Positive Profit Growth Outlook with Clear Drivers for NIM Improvement

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