PVS_Flash note 31.07.2026

PVS Announces Q2 2026 Results, Net Profit Growth of +80% yoy: Driven by compensation received due to cancellation of construction contracts.

In Q2 2026, PVS reported revenue of VND 8,589 billion (+17% year-on-year) and net profit of VND 562 billion (+80% year-on-year). Of this, PVS recorded VND 460 billion in other income from compensation received due to cancellation of construction contracts. For the first six months of 2026, revenue reached VND 17,287 billion (+29% year-on-year, achieving 52% of the annual plan), and net profit reached VND 997 billion (+63% year-on-year, achieving 100% of the annual plan).

We maintain our 2026 business forecast with estimated revenue of VND 40,030 billion (+23% year-on-year) and net profit of VND 2,197 billion (+16% year-on-year). We maintain our target price of VND 49,400/share for 2026. Recommendation: BUY