Analyst Pin-board PC1 – Fundamentals can remain mostly stable during the pandemic
2019 business results were driven by the backlog in the electricity construction
PC1’s 2019 revenue came at VND 5,842 billion (+15% yoy). The construction and manufacturing segments revenue grew by 73% and 97% yoy respectively because of the abundant backlog maintained throughout the year. 2019 was a peak year in terms of disbursement in the power industry, particularly in the solar power segment. PC1 won numerous bid as EPC. Its manufacturing segment also increased strongly. The two growth drivers compensated for the drop in the real estate revenue because of no handovers during the year and electricity generation’s flat revenue.
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