HT1 reported Q3 2021 results with net revenue dropping 48% YoY to VND1.0tn (USD45.2mn) and a net loss of VND20bn (USD1.0mn). HT1’s sales were significantly hit by Vietnam’s fourth wave of COVID-19 in Q3 2021 that disrupted domestic construction activities, especially as HT1’s sales are concentrated in southern provinces/cities — the region hardest hit by the pandemic. HT1 recorded Q3 2021 sales volume of 919,000 tons (-46% YoY) and 9M 2021 sales volume of 4.3 million tons (-10% YoY; equivalent to 64% of our full-year forecast).

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