PVT – 2024: NPAT-MI is anticipated to increase 25% YoY
- For FY2023, PVT recorded revenue of VND 9,487 bn (USD 400 mn, +5% YoY) and net profit of VND 980 bn (USD 41 mn, +14% YoY), completing 97%/100% of our forecast. The corresponding EPS was VND 3,029.
- Given the strong fleet expansion and the favourable TC rates, we expect FY2024 NPAT-MI to increase by 25% YoY to VND 1,227 bn (USD 52 mn). The corresponding EPS is VND 3,563.
- Although we maintain a positive outlook for PVT’s 2024 business results, PVT's current share price has been priced in the growing potential. Therefore we only recommend a NEUTRAL with the target price of VND 26,200.
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