BMP - Q2 strong margin expansion supports earnings growth - Earnings Flash
  • 2020-07-24T19:56:53
  • Company Research
BMP reported Q2 2020 results with 6% YoY revenue growth (VND1.3tn/USD54.4mn) and 32% YoY NPAT-MI growth (VND155bn/USD6.7mn), which translated to H1 2020 revenue growth of 8% YoY (VND2.3tn/USD98.7mn) and NPAT-MI growth of 23% YoY (VND257bn/USD11.2mn). The discrepancy between top and bottom-line growth in H1 2020 was mainly driven by gross margin expanding to 26.4% from 22.9% in H1 2019 on the back of 1) lower oil prices — and hence a lower input plastic price environment — in H1 2020