BWE released its Q3 2020 results with revenue and NPAT reaching VND741bn (USD32mn; +15% YoY) and VND140bn (USD6mn; +32% YoY), respectively. We attribute these solid earnings results to the strong performance of the water supply segment — which was driven by an 8% YoY sales volume growth despite the second wave of COVID-19 — a 5% YoY water tariff increase and lower financial expenses.