HSG - Q2 FY2025 earnings came in twice as high as preliminary result, but caution warranted due to high one-off gains - Earnings Flash

• 23 Apr 2025
• Company Research

HSG announced its H1 FY2025 results as follows: H1 FY2025: Net revenue: VND18.7tn (USD732.3mn; +2% YoY; 46% of our FY2025 forecast). NPAT-MI: VND371bn (USD14.5mn; -12% YoY; 74% of our FY2025 forecast). Q2 FY2025: Net revenue: VND8.5tn (USD331.4mn; -17% Qo