VHM - Mega project deliveries, office sales drive Q3 earnings - Earnings Flash
  • 2020-10-29T23:31:23
  • Company Research
VHM posted Q3 2020 NPAT-MI of VND6.1tn (USD263mn; +11% YoY), which was mainly driven by scheduled handovers of 10,800 retail units and the sale of the office complex at Vinhomes Metropolis (Hanoi). As a result, VHM’s 9M 2020 NPAT-MI reached VND16.3tn (USD710mn; +7% YoY), which is equivalent to 66% of our full-year forecast of VND24.8tn (USD1.1bn; +14% YoY) as stated in our last Update Report, VHM [BUY +41.4%] - Deliveries at mega projects to push H2 earnings, dated August 27, 2020.