- We increase our target price for DIG by 10% to VND20,000/share mainly due to the lower net debt balance at end-2023, but reiterate our SELL rating. 

- In 2023, DIG’s revenue decreased 46% YoY to VND1.03tn (USD42.3mn) – in line with our forecast, while its NPAT-MI increased 20% YoY to VND173bn (USD7.1mn) – surpassing our forecast by 38% mainly due to profit from associates in Q4 2023.

- For 2024F, we forecast 2024F NPAT-MI of VND244bn (USD10mn; +41% YoY) which is mainly supported by ongoing handovers at the Nam Vinh Yen and Vi Thanh projects and the start of sales recognition at the Vung Tau Centre Point by Q4 2024F. 

Powered by Froala Editor