Báo cáo phân tích cổ phiếu BWE - Công ty Cổ phần Nước – Môi trường Bình Dương (HOSE) (bản tiếng Anh)
Dynamics strengthened from privatization
- Consistent 17% increase in earnings forecast in FY19 and FY20, thanks to (i) water supply and demand in Binh Duong to yield above 20% growth in revenue with margin supported, (ii) despite a fall in margin of waste treatment segment, advanced technology of BWE could support the rise in price negotiated and volume of industrial waste treated. This segment should continue with 22% revenue growth next year.
- ROE of this utilities company should be safe at 19% in 2019 and 2020 with management strong wish to exclude the ownership of sewage plants.
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