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

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Vincom Retail (VRE) had a strong recovery in 2022, when it reported VND7,361bn (+25% YoY) in revenue, most of which came from commercial leasing, at VND6,812bn (+45% YoY), almost equal to pre-Covid levels.</li><li>On the other hand, revenue from real estate handovers dropped by a steep 62% to only VND381bn, marking the lowest ever recorded.</li><li>Gross profit margin increased to 51.8%, higher than the 2021 rate of 40.6%, and the highest in the last five years.</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>

Vincom Retail (VRE) had a strong recovery in 2022, when it reported VND7,361bn (+25% YoY) in revenue, most of which came from commercial leasing, at VND6,812bn (+45% YoY), almost equal to pre-Covid levels.On the other hand, revenue from real estate handovers dropped by a steep 62% to only VND381bn, marking the lowest ever recorded.Gross profit margin increased to 51.8%, higher than the 2021 rate of 40.6%, and the highest in the last five years.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.

Vincom Retail (VRE VN / BUY) - Heading for a strong recovery