Research Center
Quay lại

HT1 - OUTPERFORM - Binh Phuoc shutdown hurts 2Q; production normalizing as cement demand still strong - Update

There was a three month shutdown of clinker production at Binh Phuoc in 2Q that resulted in loss clinker sales and higher cement production costs prompting a 12% cut to our gross profit assumption. Because of the outsized financial costs that HT1 currently bears, this in turn translate to a 65% cut in our FY14 EPS forecast from VND692 to VND241. Since restarting Binh Phuoc, HT1’s cement sales are normalizing to pre-shutdown levels.