- HT1 reported Q2 2022 revenue of VND2.4tn (USD102.4mn; +6% YoY) and NPAT-MI of VND136bn (USD5.83mn; -44% YoY). The discrepancy between revenue and earnings growth in Q2 2022 was mainly due to 1) high input coal prices that outpaced HT1’s ASP increases and 2) sales volume falling 7% YoY amid the slow recovery of domestic construction activity.

- For H1 2022, HT1’s revenue was VND4.3tn (USD186.4mn; +9% YoY) and its NPAT-MI was VND161bn (USD6.9mn; -52% YoY). 

- In Q2 2022, HT1’s cement sales volume was 1.79 million tonnes (-7% YoY and +18% QoQ). This amount translates to H1 2022 sales volume of 3.30 million tonnes (-3% YoY), fulfilling 49% of our 2022 full-year forecast of 6.7 million tonnes.