Title X-Point | ACV : June 2026 Investor Meeting Update
Report Type Phân tích công ty
Source BSC
Bussiness ACV
Detail Date : 07/09/2026
Total pages : 0
Language : English
File Type : .PDF
FileSize : 320 Kb
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Short Content

EVENT HIGHLIGHT

BSC has not yet issued a recommendation on ACV due to: (1) the Long Thanh International Airport project progressing more slowly than our initial expectations; and (2) earnings declining YoY as financial income decreased and the airport security business was no longer recognized as profit attributable to ACV.

Q1 2026 BUSINESS RESULTS

  • In Q1 2026, ACV recorded net revenue of VND 6,860bn (+8% YoY) and NPAT-MI of VND 2,574bn (-3% YoY).

  • Revenue growth was mainly driven by aeronautical services, which reached VND 5,709bn (+6% YoY), supported by continued YoY growth in passenger throughput across ACV’s airports. Meanwhile, NPAT-MI declined slightly YoY due to: (1) the airport security business being transferred to the Ministry of Public Security and therefore no longer being recognized as profit attributable to ACV; and (2) financial income declining 40% YoY.