Analyst Pin-board: NT2 – Weak 2019 earnings outlook despite of improvement in core business
In 2019, the new gas field coming into operation helps improve gas supply for power plants in the Southeast region, including NT2. In addition, market demand remains strong would be an important condition for the company to achieve a moderate growth in sales volume and hence in core earnings from electricity production. However, as we have mentioned in our recent updates, the movements of the EUR/VND exchange rate would not be as favorable for NT2 as it was in 2018. As a result, we expect that the lack of support from exchange rate movements will lead to a slight decrease in reported NPAT of NT2 this year, despite of the improvement in recurring earnings.
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