We attended DGW’s analyst meeting on August 3, 2022, during which management provided details regarding its business outlook in H2 2022.

Management expects further improvements in growth and profit margins in H2 2022 vs H1 2022 due to recovering demand for laptops & tablets in back-to-school season while mobile phone sales growth has remained upbeat year-to-date. Moreover, the long-awaited iPhone 14 is expected to substantially contribute to sales in Q4 2022. Management also expects a potential M&A target could contribute to DGW’s earnings in Q4 2022. As such, management has remained confident with its net profit guidance of VND800bn (USD35.1mn) for FY2022. Below are our detailed takeaways.