Published Date: 03/04/2015
HBC: 2015- regaining trustHBC announced positive business results in 2014, with net revenues of VND3,506 bn (+2.1 YoY) and profit after taxes (PAT) of VND71 bn (+170% YoY). Although PAT is up significantly compared to 2013, the results were only 70% of the revenue target and 41% of the profit target. In the last 3 years, HBC always set high profit targets, but always failed to meet these targets . In 2015, HBC’s targets are VND 5,300 bn of revenue, and VND180 bn of PAT, an increase of 153% YoY for the latter, and equivalent to a forward EPS of VND3,423. Due to the recovery in the real estate and construction industries, HBC’s bigticket projects are still on track , and with new contracts also being signed, we believe that HBC can meet the profit target for this year. The year 2015 will be a pivotal year for HBC to regain the trust of investors after three difficult years in the construction industry.
HBC-company visit note 01.04.2015.pdf
