- We provide an update on TNG following our last report, dated May 18, 2023.
- In 2023, TNG’s proactive strategies supported achieving a record-high revenue of VND7.1tn (+5% YoY) despite lower demand. However, NPAT-MI shrank 23% YoY, mostly due to increased operational and interest expenses (see p.3).
- TNG reported 2M2024 revenue of VND871bn (+13% YoY). According to management, orders are picking up with all factories running at full capacity until June 2024, with some even remaining full until September.
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