HVN - Earnings below expectation on contracted margin - Earnings Flash
  • 22 Jan 2020
  • Company Research
HVN released Q4 2019 results in which revenue slid 3% to VND23tn/USD1bn and NPAT-MI dropped 94% to VND35bn/USD1.5mn. The drop in NPAT-MI was mainly derived from (1) lower gross margin and (2) lower other income that was mainly contributed by decreasing in