External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

PetroVietnam Power NhonTrach 2 / Equity Bottom-Up

<ul><li>According to the Ministry of Industry and Trade’s electricity generation plan in 2024, gas thermal power will contribute 23.1bn kWhin total electricity production throughout the system, down 12.2% compared with 26.3bn kWh in 2023.</li><li>Additionally, PetroVietnam (PVN) plans to supply the total volume of gas for electricity production in 2024 is 4.19-4.47bn m³, down 26% compared with PVN’s plan in 2023 due to the decline in existing gas sources.</li><li>We project total output of 2,600mn kWh in 2024 (-10% YoY) for PetroVietnam Power Nhon Trach 2 JSC (NT2). </li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

According to the Ministry of Industry and Trade’s electricity generation plan in 2024, gas thermal power will contribute 23.1bn kWhin total electricity production throughout the system, down 12.2% compared with 26.3bn kWh in 2023.Additionally, PetroVietnam (PVN) plans to supply the total volume of gas for electricity production in 2024 is 4.19-4.47bn m³, down 26% compared with PVN’s plan in 2023 due to the decline in existing gas sources.We project total output of 2,600mn kWh in 2024 (-10% YoY) for PetroVietnam Power Nhon Trach 2 JSC (NT2). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PetroVietnam Power Nhon Trach 2 JSC - Expected Lower Earnings in 2024