- CTD reported Q2 2022 revenue of VND3.3tn (USD140.8mn; +29% YoY and +72% QoQ) and a net loss of VND24bn vs NPAT-MI of VND29bn (USD1.3mn) in Q1 2022 and VND45bn (USD1.9mn) in Q2 2021.

- Despite the slow recovery of domestic construction activities and the high construction material price environment, CTD’s gross margin surged to 6.6% in Q2 2022 compared to 3.5% in Q1 2022 and 5.3% in Q2 2021, resulting in strong gross profit growth of 60% YoY and 224% QoQ to VND216bn (USD9.3mn).

- However, CTD booked VND256bn (USD11.0mn) of provision expenses in Q2 2022 under SG&A expenses, which was significantly high compared to VND16bn (USD0.7mn) in Q2 2021 and no provision in Q1 2022. Out of the VND256bn of provisions booked in Q2 2022, VND242bn (USD10.4mn) was attributed to the D’Capitale project (Tan Hoang Minh group is the project owner). CTD already made full provision for this project, amounting to VND484bn (USD20.8mn).