DGW – Laptops & Tablets performance are the highlight for Q3-2023 results
- Q3-2023 net revenue reached VND 5,413 bn (or USD 225 mn), dropped by -10.8% YoY but recovered by +17.8% QoQ, driven by higher Laptops & Tablets demand in the annual back-to-school season
- Net profit margin narrowed by -108 bps compared to the same period last year because of 1) lower selling prices to boost revenue growth, and (2) increase in selling and interest expenses. Nonetheless, we believe that the softening of “ICT price war” and “lower interest rate trend” will support the higher net margin of DGW in the next quarter
- For 9M-2023, DGW completed respectively 70% & 66% of the 2023 revenue & NPAT-MI targets. We project that DGW will likely miss this year's profit guidance mainly due to the modest recovery of ICT demand
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