SCS – Update on 11M2023 Business and 2023F-24F Forecasts
- Cumulative 11M-2023 cargo volume reached 123.8 thousand tons (-25% YoY). The November figure alone posted positive growth over the same period for the first time in 2023, reaching 9%, on the low base of the previous year.
- International cargo volume in 2023F is forecasted to reach 138 thousand tons (-22% YoY), leading to a decrease in revenue and NPAT of -19% YoY and -22% YoY, respectively. 2023 PAT is expected to reach VND 506 billion, corresponding to a basic EPS of 4,650 VND.
- For 2024, revenue and NPAT are forecast to reach VND 752 billion (+9% YoY) and VND 532 billion (+5% YoY), corresponding to a basic EPS of 4,900 VND.
- Maintain the target price of 74,300 VND/share for SCS, implying an expected return rate of 22% (including a cash dividend of 60% on par value) as of December 11th, 2023.
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.