POW – Better 1H19 earnings as expected – Earnings Flash
- POW’s 2Q19 net profit grew by 44.2% yoy, driven by a 1.9% pts increase in gross margin and lower financial expenses.
- 1H19 gross profit margin (GPM) inched up to 14.6% (+0.7% pt yoy), mainly due to lower depreciation cost.
- 1H19 revenue and NPAT-MI are in line with our forecasts. Maintain Add.
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Market Price
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Target Price
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Dividend Yield
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Rating
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Sector
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VND13,900
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VND18,334
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0%
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ADD
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POWER
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