PVT – Investing in the chemical tanker is a sound strategy
- 1Q2024 revenue reached VND 2,536 bn or USD 104 mn (+ 24% YoY), driven by the benefits from a new fleet and supported by positive charter rate developments. The gross profit margin (GPM) increased by 500 bps YoY, leading to a 27% YoY rise in NPAT, which totaled VND 231 bn (USD 9 mn).
- For 2024, revenue in the chemical transportation segment surged by 49% YoY, offsetting declines in crude oil and LPG segments, resulting in an overall company revenue growth of 4% YoY, reaching VND 9,931 bn (USD 405 mn). Consequently, GPM improved by 300 bps YoY, boosting net profit by 27% YoY. The corresponding EPS increased to VND 2,838 (2023: VND 2,829).
- We maintain a NEUTRAL recommendation with a one-year target price of VND 27,000 per share, based on a three-year average target P/E ratio of 9.5x
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.
RongViet Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, RongViet believes that our products would always be important sources of information for customers/investors’ investment decisions.”
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.