Report

Analyst Pin-board DBD – Waiting for strong growth in 2023

  • Revenue and PBT in 9M were VND 1,154 bn (USD 50.6 mn, -5.1% YoY) and VND 168 bn (USD 7.4 mn, +16% YoY), completing 79% and 93% of annual plans, respectively. DBD’s revenue increased by 99% in 3Q mainly as medical equipment sales grew strongly.
  • All key product categories kept growing strongly in 9M2021. Specifically: the hemodialysis fluid revenue increased by 20% YoY to VND 98 bn (USD 4.3 mn), the anti-cancer medicine revenue increased by 46% YoY to VND 144 bn (USD 6.3 mn).
  • The company can set “safety plans” for 2022 with a target revenue of VND 1,650 bn (+5.8% YoY), PBT of VND 215 bn (+ 7.5%-10.3% YoY).
  • In the OTC channel,  DBD has been boosting its presence in a larger number of retailers. The number of retailers to increase from roughly 8,000 in 2020 to 13,717 in 10M2021.
Underlying
BINH DINH PHARMACEUTICAL & M

Binh Dinh Pharmaceutical and Medical Equipment Joint Stock Company (Bidiphar) is a Vietnam-based company primarily engaged in pharmaceuticals sector. The Company's leading business activities are the production and wholesale of medicines, including antibiotics, antipyretics, pain relievers, cardiovascular drugs, antifungal and antiviral drugs, respiratory drugs, vitamins and functional food, among others. Bidiphar is also involved in the manufacture and distribution of medical equipment, supplies and packaging.

Provider
Viet Dragon Securities
Viet Dragon Securities

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.

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Analysts
Son Tran

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