- DRC released its Q4 2021 results with revenue of VND1.3tn (USD57.9mn; +20.3% YoY) and NPAT-MI of VND80bn (USD3.5mn; -20.2% YoY).
- We believe DRC’s robust revenue in Q4 2021 was mainly due to (1) continued strong demand for DRC’s radial tires and customized bias tires in its export markets and (2) easing mobility restrictions in Vietnam, which in turn translated into DRC being better able to handle customer orders.