Earnings Report /
Vietnam

PetroViet Nam Technical Services: Awaiting the backlog for M&C to clear

  • PVS reported Q3 21 revenue of VND3,984bn and NPATMI of VND221bn, down 33.2% yoy and 12.2% yoy, respectively

  • The backlog for M&C, especially from domestic oil gas projects, is likely to impact the company's prospect

  • We recommend Reduce with a target price of VND22,700

Vu Tran
Vu Tran

Oil & Gas, Fertilizers

Rong Viet
30 December 2021
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