Reported Earnings • Aug 06
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: ₫240.4b (down 18% from 2Q 2025). Net income: ₫10.9b (up 2.0% from 2Q 2025). Profit margin: 4.5% (up from 3.7% in 2Q 2025). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫13,000, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 10x in the Basic Materials industry in Vietnam. Total loss to shareholders of 23% over the past three years. Board Change • May 21
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 3 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Member of the Board of Supervisors Kien Tran is the most experienced director on the board, commencing their role in 2015. Independent Director Tai Le was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • May 13
First quarter 2026 earnings released: EPS: ₫290 (vs ₫12.79 in 1Q 2025) First quarter 2026 results: EPS: ₫290 (up from ₫12.79 in 1Q 2025). Revenue: ₫214.7b (down 14% from 1Q 2025). Net income: ₫7.26b (up ₫6.94b from 1Q 2025). Profit margin: 3.4% (up from 0.1% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Apr 01
Viglacera Ha Long joint stock company, Annual General Meeting, Mar 30, 2026 Viglacera Ha Long joint stock company, Annual General Meeting, Mar 30, 2026, at 08:00 SE Asia Standard Time. Location: head office of viglacera ha long jsc, ha khau 2 quarter, an tiem street, viet hung ward, quang ninh, Vietnam New Risk • Mar 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₫262.5b (US$9.98m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 49% per year over the past 5 years. Market cap is less than US$10m (₫262.5b market cap, or US$9.98m). Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₫12,800, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 11x in the Basic Materials industry in Vietnam. Total loss to shareholders of 47% over the past three years. Reported Earnings • Jan 28
Full year 2025 earnings released: EPS: ₫1,196 (vs ₫2,663 loss in FY 2024) Full year 2025 results: EPS: ₫1,196 (up from ₫2,663 loss in FY 2024). Revenue: ₫1.11t (down 3.4% from FY 2024). Net income: ₫29.9b (up ₫96.5b from FY 2024). Profit margin: 2.7% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₫13,300, the stock trades at a trailing P/E ratio of 64x. Average trailing P/E is 11x in the Basic Materials industry in Vietnam. Total loss to shareholders of 47% over the past three years. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₫11,900, the stock trades at a trailing P/E ratio of 57.3x. Average trailing P/E is 11x in the Basic Materials industry in Vietnam. Total loss to shareholders of 17% over the past three years. Reported Earnings • Oct 16
Third quarter 2025 earnings released: EPS: ₫398 (vs ₫1,054 loss in 3Q 2024) Third quarter 2025 results: EPS: ₫398 (up from ₫1,054 loss in 3Q 2024). Revenue: ₫277.7b (down 1.4% from 3Q 2024). Net income: ₫9.95b (up ₫36.3b from 3Q 2024). Profit margin: 3.6% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. New Risk • Sep 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 8.3% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.3% average weekly change). Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (₫252.5b market cap, or US$9.60m). New Risk • Aug 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₫252.5b (US$9.60m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (₫252.5b market cap, or US$9.60m). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Reported Earnings • Jul 29
Second quarter 2025 earnings released: EPS: ₫426 (vs ₫394 loss in 2Q 2024) Second quarter 2025 results: EPS: ₫426 (up from ₫394 loss in 2Q 2024). Revenue: ₫291.4b (flat on 2Q 2024). Net income: ₫10.6b (up ₫20.5b from 2Q 2024). Profit margin: 3.7% (up from net loss in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. New Risk • Jun 24
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₫262.5b (US$9.98m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 71% per year over the past 5 years. Market cap is less than US$10m (₫262.5b market cap, or US$9.98m). Reported Earnings • Apr 21
First quarter 2025 earnings released: EPS: ₫13.00 (vs ₫586 loss in 1Q 2024) First quarter 2025 results: EPS: ₫13.00 (up from ₫586 loss in 1Q 2024). Revenue: ₫251.2b (up 4.2% from 1Q 2024). Net income: ₫319.8m (up ₫15.0b from 1Q 2024). Profit margin: 0.1% (up from net loss in 1Q 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Announcement • Mar 26
Viglacera Ha Long joint stock company, Annual General Meeting, Mar 23, 2025 Viglacera Ha Long joint stock company, Annual General Meeting, Mar 23, 2025, at 09:00 SE Asia Standard Time. Location: zone 2, an tiem street, ha khau ward, ha long city, quang ninh province, Vietnam Reported Earnings • Jan 27
Full year 2024 earnings released: ₫2,661 loss per share (vs ₫2,780 loss in FY 2023) Full year 2024 results: ₫2,661 loss per share (improved from ₫2,780 loss in FY 2023). Revenue: ₫1.15t (down 6.6% from FY 2023). Net loss: ₫66.5b (loss narrowed 4.3% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. New Risk • Nov 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₫240.0b (US$9.36m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 70% per year over the past 5 years. Market cap is less than US$10m (₫240.0b market cap, or US$9.36m). Reported Earnings • Oct 20
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ₫281.6b (down 6.8% from 3Q 2023). Net loss: ₫26.3b (loss widened 289% from 3Q 2023). Reported Earnings • Jul 25
Second quarter 2024 earnings released: ₫394 loss per share (vs ₫547 loss in 2Q 2023) Second quarter 2024 results: ₫394 loss per share (improved from ₫547 loss in 2Q 2023). Revenue: ₫290.1b (down 9.5% from 2Q 2023). Net loss: ₫9.84b (loss narrowed 28% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jan 25
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at ₫14,100. The fair value is estimated to be ₫11,606, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jan 23
Full year 2023 earnings released: ₫2,779 loss per share (vs ₫4.83 profit in FY 2022) Full year 2023 results: ₫2,779 loss per share (down from ₫4.83 profit in FY 2022). Revenue: ₫1.23t (down 24% from FY 2022). Net loss: ₫69.5b (down ₫69.6b from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 20
Third quarter 2023 earnings released: ₫271 loss per share (vs ₫184 loss in 3Q 2022) Third quarter 2023 results: ₫271 loss per share (further deteriorated from ₫184 loss in 3Q 2022). Revenue: ₫302.0b (down 15% from 3Q 2022). Net loss: ₫6.77b (loss widened 47% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 26
Second quarter 2023 earnings released: ₫547 loss per share (vs ₫173 loss in 2Q 2022) Second quarter 2023 results: ₫547 loss per share (further deteriorated from ₫173 loss in 2Q 2022). Revenue: ₫320.4b (down 26% from 2Q 2022). Net loss: ₫13.7b (loss widened 216% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 18
First quarter 2023 earnings released: ₫960 loss per share (vs ₫380 profit in 1Q 2022) First quarter 2023 results: ₫960 loss per share (down from ₫380 profit in 1Q 2022). Revenue: ₫280.3b (down 30% from 1Q 2022). Net loss: ₫24.0b (down 352% from profit in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Board Change • Mar 29
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Deputy GM, Director & Member of the Management Board Hung Tran was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 29
Full year 2022 earnings released: EPS: ₫7.00 (vs ₫1,755 in FY 2021) Full year 2022 results: EPS: ₫7.00 (down from ₫1,755 in FY 2021). Revenue: ₫1.62t (flat on FY 2021). Net income: ₫169.8m (down 100% from FY 2021). Profit margin: 0% (down from 2.7% in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 16% share price gain to ₫23,000, the stock trades at a trailing P/E ratio of 31.7x. Average trailing P/E is 14x in the Basic Materials industry in Vietnam. Total loss to shareholders of 1.9% over the past three years. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 18% share price gain to ₫17,800, the stock trades at a trailing P/E ratio of 24.5x. Average trailing P/E is 13x in the Basic Materials industry in Vietnam. Total loss to shareholders of 17% over the past three years. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Deputy GM, Director & Member of the Management Board Hung Tran was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₫13,100, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 10x in the Basic Materials industry in Vietnam. Total loss to shareholders of 39% over the past three years. Reported Earnings • Oct 14
Third quarter 2022 earnings released: ₫184 loss per share (vs ₫473 profit in 3Q 2021) Third quarter 2022 results: ₫184 loss per share (down from ₫473 profit in 3Q 2021). Revenue: ₫355.4b (down 3.1% from 3Q 2021). Net loss: ₫4.61b (down 139% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫19,700, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 13x in the Basic Materials industry in Vietnam. Total loss to shareholders of 10.0% over the past three years. Reported Earnings • Jul 21
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ₫431.0b (down 3.2% from 2Q 2021). Net loss: ₫4.33b (down 131% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 22% share price gain to ₫24,500, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 15x in the Basic Materials industry in Vietnam. Total returns to shareholders of 1.1% over the past three years. Upcoming Dividend • May 23
Upcoming dividend of ₫1,750 per share Eligible shareholders must have bought the stock before 30 May 2022. Payment date: 06 July 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 8.8%. Within top quartile of Vietnamese dividend payers (7.3%). Higher than average of industry peers (4.7%). Buying Opportunity • Apr 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.7%. The fair value is estimated to be ₫32,643, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has declined by 39%. Buying Opportunity • Mar 14
Now 22% undervalued Over the last 90 days, the stock is up 2.4%. The fair value is estimated to be ₫32,252, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% per annum over the last 3 years. Earnings per share has declined by 39% per annum over the last 3 years. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫1,797 (down from ₫3,021 in FY 2020). Revenue: ₫846.5b (down 11% from FY 2020). Net income: ₫44.9b (down 41% from FY 2020). Profit margin: 5.3% (down from 7.9% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Jan 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₫1,761 (down from ₫3,352 in FY 2020). Revenue: ₫1.64t (down 14% from FY 2020). Net income: ₫44.0b (down 48% from FY 2020). Profit margin: 2.7% (down from 4.4% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₫24,700, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 15x in the Basic Materials industry in Vietnam. Total returns to shareholders of 28% over the past three years. Buying Opportunity • Jan 18
Now 26% undervalued Over the last 90 days, the stock is up 9.5%. The fair value is estimated to be ₫35,960, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.1% per annum over the last 3 years. Earnings per share has declined by 39% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 16% share price gain to ₫27,500, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 16x in the Basic Materials industry in Vietnam. Total returns to shareholders of 21% over the past three years. Reported Earnings • Oct 22
Third quarter 2021 earnings released: EPS ₫473 (vs ₫962 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₫366.9b (down 24% from 3Q 2020). Net income: ₫11.8b (down 51% from 3Q 2020). Profit margin: 3.2% (down from 5.0% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 23
Second quarter 2021 earnings released: EPS ₫566 (vs ₫805 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₫445.5b (down 14% from 2Q 2020). Net income: ₫14.2b (down 30% from 2Q 2020). Profit margin: 3.2% (down from 3.9% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₫23,500, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 10x in the Basic Materials industry in Vietnam. Total loss to shareholders of 31% over the past three years. Upcoming Dividend • May 20
Upcoming dividend of ₫2,200 per share Eligible shareholders must have bought the stock before 27 May 2021. Payment date: 06 July 2021. Trailing yield: 8.1%. Within top quartile of Vietnamese dividend payers (7.7%). Higher than average of industry peers (7.1%). Announcement • May 05
SSI Fund Management Limited acquired 12% stake in Viglacera Ha Long joint stock company (HNX:VHL). SSI Fund Management Limited acquired 12% stake in Viglacera Ha Long joint stock company (HNX:VHL) on February 23, 2021. As per terms of transaction, SSI Fund Management Limited acquired 3 million shares of Viglacera Ha Long joint stock company.
SSI Fund Management Limited completed the acquisition of 12% stake in Viglacera Ha Long joint stock company (HNX:VHL) on February 23, 2021. Reported Earnings • Apr 20
First quarter 2021 earnings released: EPS ₫11.21 (vs ₫931 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₫364.7b (down 16% from 1Q 2020). Net income: ₫280.2m (down 99% from 1Q 2020). Profit margin: 0.1% (down from 5.4% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₫26,900, the stock is trading at a trailing P/E ratio of 8x, up from the previous P/E ratio of 6.9x. This compares to an average P/E of 9x in the Basic Materials industry in Vietnam. Total return to shareholders over the past three years is a loss of 29%. Is New 90 Day High Low • Feb 02
New 90-day low: ₫23,000 The company is down 8.0% from its price of ₫24,900 on 04 November 2020. The Vietnamese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 6.0% over the same period. Reported Earnings • Jan 22
Full year 2020 earnings released: EPS ₫3,360 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₫1.90t (down 5.0% from FY 2019). Net income: ₫84.2b (down 34% from FY 2019). Profit margin: 4.4% (down from 6.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 17
New 90-day high: ₫28,500 The company is up 24% from its price of ₫23,000 on 18 September 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 16% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: ₫26,900 The company is up 22% from its price of ₫22,100 on 28 August 2020. The Vietnamese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 17% over the same period. Reported Earnings • Oct 13
Third quarter earnings released Over the last 12 months the company has reported total profits of ₫101.7b, down 27% from the prior year. Total revenue was ₫1.95t over the last 12 months, down 3.5% from the prior year. Is New 90 Day High Low • Oct 06
New 90-day high: ₫24,100 The company is up 3.0% from its price of ₫23,500 on 07 July 2020. The Vietnamese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Basic Materials industry, which is up 17% over the same period.