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ACV – Stay firm through the turbulence – Update

Company Note 10/08/2020    187

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  • ACV posted a 2Q20 revenue of VND1,046bn (-76.6% yoy) and a net loss of VND394bn (vs. 2Q19 net profit of VND1,704bn).
  • Better-than-expected cost control and higher interest income lifted 1H20 net profit to VND1,194bn (-67.7% yoy), 137% our 1H20 forecast.
  • Reiterate Add with a lower target price of VND79,400.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND53,800

VND79,400

1.67%

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AIRPORTS

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