Report

DPR – Rubber segment is the key driver for 2025

• In October 2024, DPR recorded a total rubber exploitation output of 1,600 tons, the selling price reached VND 50 million per ton. Accumulated in the first 10 months of 2024, total rubber production was set at 8,854 tons (-2.57% YoY) with purchasing volume decreasing over the same period, only reaching 624 tons (-30.8%), the main reason may come from the shortage of rubber supply from smallholders.
• In the base scenario, we estimate DPR's revenue and profit after profit in 2024 to reach VND 1,075 billion (+3.2% YoY) and VND 272 billion (38.1% YoY), respectively, of which revenue from the rubber segment is estimated at VND 867 billion (+12% YoY, gross profit margin from the rubber segment reaches 23%). Equivalent to in Q4/2024, profit is expected to reach VND 103 billion.
• In 2025, we expect the rubber segment to continue to be the key driver contributing to the DPR's business results, while the industrial park segment is expected to slow down due to the slower than expected approval of investment policies for industrial park projects.
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
Giao Nguyen

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