| Title | X-Point | PVS 52,300 +36%: Investor Meeting 2026 — 5M/2026 Business Results & 2026–2030 Strategy |
|---|---|
| Report Type | Phân tích công ty |
| Source | BSC |
| Bussiness | PVS |
| Detail |
Date : 08/06/2026 Total pages : 0 Language : English File Type : .PDF FileSize : 521 Kb Download: 0 Download |
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| Short Content |
EVENT HIGHLIGHTS BSC maintains its BUY recommendation on PVS with a 2026F target price of VND 52,300/share, implying an upside of 36% versus the closing price on June 8, 2026. Please refer to our latest report here. Growth drivers include: (1) Short term: earnings are expected to be concentrated in 2H2026, while backlog expansion is supported by Block B, Ca Voi Xanh, and policy easing in Taiwan; and (2) Long term (2028+): major capex, including the Goliath gantry crane and automation, together with the M&A strategy, will lift capacity to USD 2 billion, reinforcing the revenue target of VND 60,000 billion. We note risks from delays in FID approval for wind power projects and low-margin pressure from the onshore construction segment.
BUSINESS RESULTS AND FINANCIAL PLAN — 5M/2026 UPDATE 5M/2026 results: Consolidated revenue reached VND 13,515 billion, completing 41% of the full-year plan. Consolidated PBT and NPAT reached VND 688 billion and VND 563 billion, completing 54% and 57% of the full-year plan, respectively. 2026 PLAN & 2030 VISION
Other notable updates: Progress update on key projects and backlog; investment and fundraising strategy (pages 1 & 2). |