New Risk • Apr 10
New major risk - Revenue and earnings growth Earnings have declined by 29% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.6x net interest cover). Earnings have declined by 29% per year over the past 5 years. Market cap is less than US$10m (₫132.2b market cap, or US$5.02m). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₫4,500, the stock trades at a trailing P/E ratio of 50x. Average trailing P/E is 12x in the Construction industry in Vietnam. Total loss to shareholders of 30% over the past three years. New Risk • Mar 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Market cap is less than US$10m (₫155.2b market cap, or US$5.90m). Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₫4,500, the stock trades at a trailing P/E ratio of 50x. Average trailing P/E is 12x in the Construction industry in Vietnam. Total loss to shareholders of 33% over the past three years. New Risk • Feb 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 275% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Market cap is less than US$10m (₫140.9b market cap, or US$5.49m). Minor Risk Large one-off items impacting financial results. Reported Earnings • Feb 06
Full year 2025 earnings released: EPS: ₫90.00 (vs ₫112 in FY 2024) Full year 2025 results: EPS: ₫90.00 (down from ₫112 in FY 2024). Revenue: ₫817.0b (down 27% from FY 2024). Net income: ₫2.59b (down 19% from FY 2024). Profit margin: 0.3% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Jan 27
Vimeco Joint stock company, Annual General Meeting, Mar 06, 2026 Vimeco Joint stock company, Annual General Meeting, Mar 06, 2026, at 08:30 SE Asia Standard Time. Location: head office of vimco jsc, lot e9 pham hung street , yen hoa ward, hanoi Vietnam New Risk • Dec 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 17% per year over the past 5 years. Market cap is less than US$10m (₫172.5b market cap, or US$6.55m). Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. New Risk • Sep 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 4,658% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 17% per year over the past 5 years. Market cap is less than US$10m (₫175.1b market cap, or US$6.65m). Minor Risk Large one-off items impacting financial results. New Risk • Jun 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 32% per year over the past 5 years. Market cap is less than US$10m (₫169.9b market cap, or US$6.46m). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (0.3% net profit margin). Reported Earnings • Apr 30
First quarter 2025 earnings released: EPS: ₫14.00 (vs ₫32.00 in 1Q 2024) First quarter 2025 results: EPS: ₫14.00 (down from ₫32.00 in 1Q 2024). Revenue: ₫115.8b (down 42% from 1Q 2024). Net income: ₫370.9m (down 52% from 1Q 2024). Profit margin: 0.3% (down from 0.4% in 1Q 2024). The decrease in margin was driven by lower revenue. Announcement • Apr 30
An undisclosed buyer acquired 11.20% stake in Vimeco Joint stock company (HNX:VMC) from Phan Tran Hieu. An undisclosed buyer acquired 11.20% stake in Vimeco Joint stock company (HNX:VMC) from Phan Tran Hieu on April 25, 2025.
An undisclosed buyer completed the acquisition of 11.20% stake in Vimeco Joint stock company (HNX:VMC) from Phan Tran Hieu on April 25, 2025. Announcement • Apr 29
Duong Duc Vu acquired 11.20% stake in Vimeco Joint stock company (HNX:VMC). Duong Duc Vu acquired 11.20% stake in Vimeco Joint stock company (HNX:VMC) on April 25, 2025.
Duong Duc Vu completed the acquisition of 11.20% stake in Vimeco Joint stock company (HNX:VMC) on April 25, 2025. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₫5,900, the stock trades at a trailing P/E ratio of 48x. Average trailing P/E is 18x in the Construction industry in Vietnam. Total loss to shareholders of 63% over the past three years. New Risk • Feb 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 183% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 38% per year over the past 5 years. Market cap is less than US$10m (₫190.8b market cap, or US$7.44m). Minor Risk Large one-off items impacting financial results. Announcement • Feb 08
Vimeco Joint stock company, Annual General Meeting, Mar 18, 2025 Vimeco Joint stock company, Annual General Meeting, Mar 18, 2025, at 08:30 SE Asia Standard Time. Location: at the head office at lot e9 pham hung street, trung hoa ward, cau giay district, Vietnam New Risk • Jan 05
New major risk - Revenue and earnings growth Earnings have declined by 76% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 76% per year over the past 5 years. Market cap is less than US$10m (₫182.9b market cap, or US$7.13m). Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₫9,500, the stock trades at a trailing P/E ratio of 48.3x. Average trailing P/E is 18x in the Construction industry in Vietnam. Total loss to shareholders of 58% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₫6,800, the stock trades at a trailing P/E ratio of 34.6x. Average trailing P/E is 17x in the Construction industry in Vietnam. Total loss to shareholders of 66% over the past three years. New Risk • Aug 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 84% per year over the past 5 years. Market cap is less than US$10m (₫175.1b market cap, or US$7.00m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Reported Earnings • Feb 06
Full year 2023 earnings released: EPS: ₫216 (vs ₫10.26 loss in FY 2022) Full year 2023 results: EPS: ₫216 (up from ₫10.26 loss in FY 2022). Revenue: ₫1.17t (up 28% from FY 2022). Net income: ₫5.14b (up ₫5.38b from FY 2022). Profit margin: 0.4% (up from 0% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year. New Risk • Oct 26
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Market cap is less than US$10m (₫203.0b market cap, or US$8.27m). Board Change • Nov 18
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 22
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: ₫186.8b (down 11% from 3Q 2021). Net income: ₫41.7m (down 60% from 3Q 2021). Profit margin: 0% (in line with 3Q 2021). Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: ₫7.00 (vs ₫1.04 loss in 2Q 2021) Second quarter 2022 results: EPS: ₫7.00. Revenue: ₫232.3b (up 3.2% from 2Q 2021). Net loss: ₫345.8m (loss widened ₫323.3m from 2Q 2021). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 19% share price gain to ₫15,900, the stock trades at a trailing P/E ratio of 62.2x. Average trailing P/E is 22x in the Construction industry in Vietnam. Total loss to shareholders of 5.6% over the past three years. Upcoming Dividend • Oct 07
Upcoming dividend of ₫500 per share Eligible shareholders must have bought the stock before 14 October 2021. Payment date: 01 November 2021. Trailing yield: 4.3%. Lower than top quartile of Vietnamese dividend payers (6.4%). Higher than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improved over the past week After last week's 17% share price gain to ₫12,300, the stock trades at a trailing P/E ratio of 52.8x. Average trailing P/E is 15x in the Construction industry in Vietnam. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₫9,900, the stock is trading at a trailing P/E ratio of 51.6x, down from the previous P/E ratio of 65.1x. This compares to an average P/E of 14x in the Construction industry in Vietnam. Total return to shareholders over the past three years is a loss of 56%. Is New 90 Day High Low • Jan 18
New 90-day high: ₫13,300 The company is up 33% from its price of ₫10,000 on 20 October 2020. The Vietnamese market is up 26% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Construction industry, which is up 43% over the same period. Is New 90 Day High Low • Dec 31
New 90-day high: ₫11,400 The company is up 2.0% from its price of ₫11,200 on 02 October 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 28% over the same period. Reported Earnings • Oct 16
Third quarter earnings released Over the last 12 months the company has reported total profits of ₫10.8b, down 79% from the prior year. Total revenue was ₫830.6b over the last 12 months, down 35% from the prior year. 