Analyst Pin-board HND – Earnings doubled the 2021’s guideline
|
· In 4Q2021, revenue was VND 2,218 bn (or USD 96 mn), +1% QoQ and -9% YoY. Revenue declined YoY even though volume increased. Average selling price in 4Q2021 was higher than other quarters during the year thanks to FX revenue. · 2021 was a hydrologically unfavorable year for thermal plants: accumulated revenue was VND 9,026 bn (or USD 392 mn), -17% YoY, while NPAT reached VND 443 bn (or USD 19 mn), -70% YoY. That said, these results were still ahead of our expectations as the draught came sooner than expected in 3Q2021. Thus, 2021 earnings doubled full-year guidance. · We reiterate our BUY recommendation on HND with a TP of VND 23,300. Plus a cash dividend of VND 400, total implied return in the next 12 months is 26% as of Jan 24th, 2022. |
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.