DBD – Expecting better performance in 2H2024
• DBD recorded net revenue of VND 433 billion (+5% YoY, +13% QoQ) and NPAT of VND 72 billion (+1% YoY, +8% QoQ) in 2Q2024. Although the ETC channel saw slow YoY growth, it exhibited considerable growth on quarter-over-quarter basis, driven by localization policies. Meanwhile, the OTC channel remained flat QoQ.• For 1H2024, net revenue reached VND 817 billion (+3% YoY), while NPAT stood at VND 140 billion (-1% YoY). The ETC channel contributed VND 516 billion (+10% YoY), and the OTC channel generated VND 273 billion (-3% YoY). The slight decline in NPAT was attributed to rises in the COGS/revenue ratio and in the SG&A expenses/revenue ratio.
• We expect improving business results in 2H2024 compared to 1H2024, supported by favorable policies and seasonality.
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