Published Date: 26/03/2025
- Net profit (NP) in 2024 grew by 287% yoy from the low base of 2023. NP reached 82% our forecast due to negative performance in export market.
- Despite the positive outlook of domestic market, the exports could be decreased because of tax measure of USA and EU. We expect NP to grow 50%/31% yoy in 2025–26, driven mainly by domestic.
- We recommend ADD rating for NKG with a target price of 19,700 VND.
