Earnings Report /

PetroVietnam Nhon Trach 2 Power: Despite the low volume in Q3 21, revenue grew 8% yoy thanks to externalities

  • The company provided extremely low volume in Q3 21 because of low demand, which was affected by the strict lockdown

  • Despite the low volume, revenue in Q3 21 was VND1,250bn, +8% yoy and -23% qoq thanks to a contract compensation

  • Our target price is VND24,300 with a VND1,000 dividend in the next 12 months, implying a total return of 9%; Neutral

Thao Dang
Thao Dang

Food & Bev, Textiles

Rong Viet
2 November 2021
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