GAS has impressive growth of NPAT in 2Q2022

GAS announced consolidated business results in 2Q2022 with revenue of VND27,553 billion (+21.8% YoY) and NPAT of parent company’s shareholders increased sharply to VND5,086 billion (+124.8% YoY). Although selling volume did not change significantly, the average Brent oil price in Q2 increased strongly by 65% YoY, which has positively supported the gas selling price as well as the revenue of GAS. To explain this, the gas selling price of GAS is based on fuel oil (FO) price, which has a high correlation with Brent oil price. As a result, GAS’s contribution margin also increased to 25%, higher than 16.6% in the same period last year.

With this result, GAS recorded 6M2022 revenue of VND54,342 billion (+34.9% YoY) and NPAT of parent company’s shareholders was VND8,515 billion (+98% YoY); completing 68% and 121% of GAS’s full year plan respectively.

View details in full report below.