GAS – Update – Opportunity from new gas sources and LNG
Posted: Aug 21, 2025
- Net profit in Q2/2025 rose 42% YoY thanks to a VND 1.634 billion reversal of provision. For the first six months of 2025, net profit increased 28,7% YoY, exceeding our expectations.
- We forecast GAS’s net profit to reach VND 13.324 billion in 2025 (+28,1% YoY) and VND 14.080 billion in 2026 (+5,7% YoY), supported by the provision reversal in 2025 and the growing contribution from the LNG business segment.
- We maintain our ADD recommendation with a target price of VND 84.900/share, based on the strong outlook from upcoming expansion into gas-fired power.
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