BWE VN BoD estimated its 2M22 total revenue of VND626bn (+27% YoY and completing 16% of FY’s target) and PAT of VND141bn (+16% YoY and fulfilling 19% of FY’s plan).

BWE: 2M 2022 preliminary NPAT increases 16% YoY — slightly higher than our forecast

Comment: Similar to TTW in Thailand. As long as water sales and tarriffs continue to increase then this company will continue to do fine

GDT VN
GDT’s business guidance for 2022 signals a strong recovery from COVID-19 disruptions on its manufacturing activities in H2 2021 — in line with our expectation. GDT’s revenue/NPAT targets imply YoY growth of 47%/55% and account for 102%/97% of our forecasts.

Comment: Isn’t it just great to see manufacturing companies do well? We haven’t seen these type of growth figures out of Thailand since the coup, but do realise that this furniture manufacturer has had very lumpy and volatile earnings for the past 4-5 years.

DXG VN
DXG will focus on property development, brokerage and digitalization business as growth pillars with a 10-year vision. Notably, the property development segment will be rebranded as Dat Xanh Homes. Management also targets for DXS to increase its nationwide market share in primary brokerage from ~30%-35% to 40% in 2022 via its target for 50,000 products to be distributed in 2022.

MCM VN According to the documents prepared for the upcoming 2022 AGM, MCM set 2022 target in net revenue of VND3.12trl (+6.7% YoY) and PAT of VND343.5bn (+7.6% YoY). Besides, co. plans to pay a 2022 cash dividend of 50% of PAT. No further information has been provided yet.

Comment: Small scale dairy manufacturer.

QNS VN
QNS VN According to the documents prepared for the upcoming 2022 AGM, QNS targets its 2022 total revenue and PAT of VND8trl (+6% YoY) and VND1.01trl (-20% YoY), respectively. Besides, co. plans to pay 2022 dividend at the rate of min 15% (not stated in cash or stock yet). No further information has been provided yet.

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