GAS witnessed ongoing growth in 3Q2022

GAS announced 3Q2022 consolidated business results with revenue of VND24,329 billion (+31.2% YoY) and EAT of parent company’s shareholders increased to VND3,029 billion (+25.3% YoY). This increase in revenue and NPAT mainly comes from:

• Sales volume increased by 12% YoY

• Average Brent oil price in 3Q2022 increased by 37% YoY which has positively supported gas selling prices

However, this increase has slowed compared to 2Q2022 due to the drop in Brent oil price by 11.3%. Gross profit margin also fell to 18% from 25% in the previous quarter. With this result, GAS recorded 9M2022 revenue of VND78,671 billion (+33.7% YoY) and EAT of parent company’s shareholders at VND11,544 billion (+72% YoY); completing 98% and 166% of GAS’s full year plan respectively.