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Equity Bottom-Up

Vietnam Container Shipping / Equity Bottom-Up

<ul><li>VSC's revenue and NPAT -MI reached VND 861 bn (+26% YoY) and VND 13 bn (-79% YoY), respectively.</li><li>The business results were not as positive as our expectations (revenue and NPATMI forecasts were VND 794 bn and VND 55 bn, respectively), as a sharp increase in interest expenses eroded the Company's profits.</li><li>VSC's total throughput reached 339 thousand TEUs (+23% YoY), thanks to strong growth at Nam Hai Dinh Vu port in Q1 -FY26 through cooperation with the fleet of Hai An Transport and Stevedoring JSC (HSX: HAH).</li></ul><p><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></p>

VSC's revenue and NPAT -MI reached VND 861 bn (+26% YoY) and VND 13 bn (-79% YoY), respectively.The business results were not as positive as our expectations (revenue and NPATMI forecasts were VND 794 bn and VND 55 bn, respectively), as a sharp increase in interest expenses eroded the Company's profits.VSC's total throughput reached 339 thousand TEUs (+23% YoY), thanks to strong growth at Nam Hai Dinh Vu port in Q1 -FY26 through cooperation with the fleet of Hai An Transport and Stevedoring JSC (HSX: HAH).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.

VSC - Profits Decline Sharply as Financial Operations Remain Inefficient