Company Insight

Gemadept Corporation (GMD) is a pioneer in port and logistics service sector in Viet Nam. In Q1/2025, the core business segment is estimated to have grown by 55% YoY, with estimated output increasing by 30% YoY thanks to strong growth in goods production. In 2025, despite concerns about potential reciprocal tariffs from the US, we expect GMD to continue to maintain its growth momentum thanks to demand for stockpiling goods ahead of new tariff policy and an increase in service fee. Based on SOTP methods, we update GMD’s target price at VND 73,600.