Company Insight

Gemadept Corporation (GMD) is a pioneer in port and logistics service sector in Viet Nam. In the first half of 2025, core PBT grew by 48% YoY, with estimated output increasing by 30% YoY amid front-loading. In the second half of 2025, GMD will continue to focus on bringing the Nam Dinh Vu 3 port into operation as planned and beginning construction on phase 2A of the Gemalink port. Based on SOTP methods, we update GMD’s target price at VND 73,600.