Analysis Center

FPT CORPORATION (FPT VN) The company sustained healthy growth in 2024 driven by solid performance of the global IT services segment. Looking forward to 2025, the vigorous outlook persists given 20% YoY EBT growth in our projection; however, the...

GEMADEPT CORPORATION (GMD VN) GMD recorded positive financial results in 4Q2024 and throughout 2024, primarily thanks to increased container handling fees and container throughput. Our 2025 forecast remained unchanged with revenue and net profit of VND4,892 bn (+1.2% YoY)...

IDICO CORPORATION – JSC (IDC VN) FY2024 business result was perfectly in line with our forecast. Adjust our 2025 PBT down by 16% to VND2.3 trn (-23% YoY) and YE2025 target price by 3% to VND65,400/share mainly due to...

BINH SON REFINING AND PETROCHEMICAL JSC (BSR VN)  BSR announced its Q4/2024 financial results with net loss of 89 billion VND (compared to NPAT of 2,406 billion VND in the same period last year), lower than our expectations. For...

VINHOMES JSC (VHM VN) Strong growth in 4Q2024 result was driven by 2 bulk sales transactions at Vinhomes Ocean Park 3. Flat 2024 result was in line with our forecast. Adjust 2025 NPAT down by 10% to VND33.8 trn...

VIETNAM DAIRY PRODUCTS JSC (VNM VN) The company reported a decline of 0.9% YoY in revenue and 8.7% YoY in 4Q2024, lower than our projections. Although a BUY recommendation is maintained, we revise our target price down by 12%...