| Title | X-Stock | LCG VND11,700 +27%: Q1/2026 Earnings Update |
|---|---|
| Report Type | Phân tích công ty |
| Source | BSC |
| Industry | Basic Materials |
| Bussiness | LCG |
| Detail |
Date : 02/06/2026 Total pages : 0 Language : English File Type : FileSize : 0 Kb Download: 0 Download |
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| Short Content |
Detailed report In Q1/2026, LCG recorded net revenue of VND 341 billion (-20% YoY) and NPAT-MI of VND 16 billion (-22% YoY). Key highlights include: 1. Net revenue declined by 20% YoY, mainly due to:
2. Gross margin reached 11% (-2 ppts YoY). BSC believes the decline mainly came from the construction segment, as: (1) Q1 is typically the low season; and (2) LCG’s major projects are currently focused on ground treatment works, which carry thinner margins than the finishing stage toward project completion. 3. Profit from associates reached VND 9.5 billion, compared with no contribution in the same period last year, mainly from BOT Bac Giang – Lang Son after it stopped recording losses in 2025. Accordingly, NPAT-MI declined by 22% YoY, mainly due to lower profit from the construction segment. ASSESSMENT OF Q1/2026 EARNINGS
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