External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

Cotec Construction JSC / Equity Bottom-Up

<ul><li>Coteccons Construction JSC (CTD) reported 3Q22 revenue of VND 3,113 bn, a hefty increase over 3Q21 (+191% YoY), due to the low-base effect of last year.</li><li>Net earnings, however, surprisingly turned into the red as the company begam reporting interest expense in 1Q22 and continued to report provisioning of VND 16bn for the drop in value of held-for-trading securities.</li><li>In addition, negative earnings in 3Q22 were also attributed to the fall of gross margin to the historical low of 1.1%, contributing to the fall of 9M22’s gross margin to 3.8%.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Coteccons Construction JSC (CTD) reported 3Q22 revenue of VND 3,113 bn, a hefty increase over 3Q21 (+191% YoY), due to the low-base effect of last year.Net earnings, however, surprisingly turned into the red as the company begam reporting interest expense in 1Q22 and continued to report provisioning of VND 16bn for the drop in value of held-for-trading securities.In addition, negative earnings in 3Q22 were also attributed to the fall of gross margin to the historical low of 1.1%, contributing to the fall of 9M22’s gross margin to 3.8%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coteccons Construction JSC - 3Q22 Earnings Results Update