Earnings Season: Q1 2024 Results
Newly Released Earnings Reports as of April 28, 2024:
Vietcombank (VCB): Reported a net income before tax of VND 10,718 billion for Q1 2024, nearly 4% lower than the same period last year.
Phu My Fertilizer (DPM): Announced Q1 2024 results with revenue of VND 3,159 billion and net income before tax of VND 328 billion, indicating 18.5% and 43.2% increase, respectively, compared to the same period last year.
Vietnam Rubber Group (GVR): Reported first-quarter results with revenue of VND 4,585 billion, approximately 11% higher than the previous year. However, due to a decrease in other income from asset liquidation compared to the same period of 2023, GVR’s net income before tax dropped by 18% to VND 778.5 billion.
Bidiphar (DBD): Net income before tax for Q1 2024 decreased by 9% year-over-year to VND 79 billion. Increased cost of goods sold was the primary reason for the decline in the company’s profitability.
Hoang Huy Finance (HHS): Released Q1 2024 financial statements showing revenue of VND 1,621 billion and net income before tax of VND 539 billion, representing a threefold and 1.9-fold increase, respectively, compared to the same period last year.
HAGL Agrico (HNG): Reported a 26% decline in net revenue to VND 93.5 billion for Q1 2024. Selling below cost, along with other expenses, resulted in a net loss of VND 47 billion, although this is an improvement compared to the VND 112 billion loss during the same period in 2023.
DIC Corp (DIG): Reported a net loss of VND 120 billion in Q1 2024, compared to a net income of VND 101.3 billion in the same period last year. During the quarter, DIC Corp’s net revenue after excluding deductions amounted to only VND 488.5 million.
Thu Duc House (TDH): Incurred a net loss of VND 1.7 billion in Q1 2024, an improvement over the VND 10.5 billion loss in the same period last year. Insufficient revenue to cover expenses contributed to the company’s loss.
Hai An Port and Logistics (HAH): Reported a 57% decrease in net income before tax for Q1 2024, reaching VND 65 billion compared to the previous year. The company’s profitability suffered due to increased cost of goods sold and expenses.
Earnings Reports Released Prior to April 28, 2024:
