- PHR released Q2 2022 results with revenue plunging 50% YoY to VND241bn (USD11mn) and NPAT-MI plummeting 34% YoY to VND50bn (USD2.2mn), which were mainly due to YoY declines in rubber and wood revenue. The QoQ lower profits in Q2 2022 were mainly due to an absence of compensation income from rubber land conversion.
- In H1 2022, revenue declined 20% YoY to VND607bn (USD26mn), but NPAT-MI surged 116% YoY to VND346bn (USD15mn) mainly because PHR recognized VND280bn (USD12mn) of net compensation income from rubber land conversion to the VSIP III IP in Q1 2022.
- PHR released a revenue breakdown between its rubber and wood segment in H1 2022. Specifically, rubber revenue was down 12% YoY to VND546bn (USD24mn) — accounting for 90% of total revenue — and wood processing revenue plunged 73% YoY to VND29bn (USD1.3mn) — accounting for 5% of total revenue. We note this breakdown is not available for Q1 2022.