Published Date: 11/03/2025
- In 2024, net profit (NP) dropped 79% yoy due to land clearance slowing down land handover process, fulfilling 58% of our forecast;
- We forecast FY25-26F NP to grow 142%/66% yoy, driven by the key projects and the resolved legal obstacles;
- We recommend ADD for KBC with a target price of VND 35,100/share.
