Analyst Pin-board HDG – Expect for sale launch at Charm Villas and three power plants to come online in Q3 2021
- Real estate: Ha Do Charm Villa recorded positive pre-sale performance with 95% take-up rate (165/174 units) after two pre-sale events in Dec 2020 and Jan 2021. HDG will launch the next sale event in Q3 2021 (may be adjusted based on the Covid-19 situation). In 2021, this project is expected to contribute from VND 1,500 Bn – VND 1,900 Bn revenue for HDG.
- Power: In 5M 2021, three hydro power plants (Za Hung, Nam Pong and Nhan Hac) provided 119 Mn kWh (+70% YoY) with estimated revenue of VND 285 Bn (+58% YoY). For solar energy segment, HDG supplied 77 kWh with estimated revenue of VND 169 Bn (completed 56% of FY2021). In Q3 2021, three power plants include Song Tranh 4, Dak Mi 2 and 7A to come online and are expected to generate VND 374 Bn revenue in 2021.
- 2021 guideline: In 2021, HDG targets to reach net revenue of VND 4,863 Bn (-3% YoY) and flat NPAT of VND 1,254 Bn (+0% YoY). For the revenue contribution, Real estate and Energy will occupy 55% and 25%, respectively. As of Q1 2021, HDG completed 28% target on revenue and 32% of profit target. We are reviewing our target price for HDG.
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