NLG – 2024 earnings surpass forecast due to higher-than-expected Q4 recognition of handovers at Akari City P2 – Earnings Flash

• 23 Jan 2025
• Company Research

NLG announced strong Q4 2024 results from the low base in 9M 2024 with underlying property revenue of VND7.2tn/USD281mn (+11x vs 9M 2024 and +2.6x YoY) and NPAT-MI of VND497bn/USD19.5mn (vs minimal 9M 2024 earnings of VND15bn/USD0.6mn and +71% YoY). The s