Company Insight

In 9M2024, NLG's net revenue reached VND 828 billion (-46.5% YoY), and NPAT reached VND 54 billion (-82.9% YoY). Thus, as of the end of Q3/2024, NLG had achieved 12% of its revenue plan and 7% of its profit plan. The weak revenue and profit performance in the first nine months of 2024 was due to the fact that major project handovers were scheduled for Q4 of 2024.

We forecast NLG's revenue in 2024 to reach VND 5,313 billion (+67.0% YoY) and NPAT at VND 1,043 billion (+30.4% YoY) thanks to the commencement of handover for Akari Phase 2 and the handover of land plots and Ehomes at the Central Lake 2 project (Can Tho) in Q4/2024.