STB released consolidated results for Q1 2022 with PPOP of VND2.3tn (USD100mn; +55.4% YoY) and bottom-line net profit of VND1.3tn (USD55mn; +59.0% YoY), achieving 18.4% and 19.8% of our FY2022 forecasts, respectively. The increase in NPAT was mainly drive