DGW released its Q4 2021 results with net revenue of VND7.9tn (USD344mn; +97% YoY) and NPAT-MI of VND327bn (USD14mn; +231% YoY). For full-year 2021, net revenue reached VND21tn (USD912mn; +67% YoY) while NPAT-MI amounted to VND657bn (USD29mn; +146% YoY). 2021 revenue and NPAT-MI achieved 100% and 114% of our respective forecasts. The bottom line tracked ahead of our forecast mainly thanks to a better-than-expected GPM amid the global shortage of electronic supplies.

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