Analyst Pin-board ACV 2021 AGM Note – Management’s strong belief in a brighter 2H 2021 to fuel ambitious plan for passenger throughput volume
- The AGM approved the 2021 plan with a total revenue plus financial income of VND10,564bn (-8% YoY) and PBT of VND2,359bn (-29% YoY). 6M-2021 preliminary financial results completed 49% of the former while fulfilling 52% of the latter.
- Management believes that the global vaccination campaign will rapidly bring the aviation industry toward pre-covid levels, fueling the ambitious passenger throughput volume guidance.
- It also expects that the aerodrome assets ownership issue, which is the root cause of the equitization settlement delay since 2016, will be resolved in Q3-2021.
- The current TP of VND 80,800 is under review since the pandemic in Vietnam has developed much worse than expected
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