Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₫12,400, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 12x in the Construction industry in Vietnam. Total returns to shareholders of 38% over the past three years. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: ₫24.00 (vs ₫658 loss in 1Q 2025) First quarter 2026 results: EPS: ₫24.00 (up from ₫658 loss in 1Q 2025). Revenue: ₫126.0b (down 41% from 1Q 2025). Net income: ₫737.9m (up ₫20.8b from 1Q 2025). Profit margin: 0.6% (up from net loss in 1Q 2025). The move to profitability was driven by lower expenses. New Risk • Mar 30
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 6.8% 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 Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₫308.0b market cap, or US$11.7m). New Risk • Mar 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₫259.2b (US$9.85m) 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 Interest payments are not well covered by earnings (0.8x net interest cover). Market cap is less than US$10m (₫259.2b market cap, or US$9.85m). Minor Risk Large one-off items impacting financial results. New Risk • Feb 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 79% 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 Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₫286.6b market cap, or US$10.9m). Tillkännagivande • Feb 04
SCI E&C Joint Stock Company, Annual General Meeting, Apr 03, 2026 SCI E&C Joint Stock Company, Annual General Meeting, Apr 03, 2026. Location: 3rd floor, tower c, golden palace building, me tri street tu lien ward in person & hybrid, hanoi Vietnam Reported Earnings • Jan 31
Full year 2025 earnings released: EPS: ₫34.91 (vs ₫0.77 in FY 2024) Full year 2025 results: EPS: ₫34.91 (up from ₫0.77 in FY 2024). Revenue: ₫846.3b (down 16% from FY 2024). Net income: ₫1.06b (up ₫1.04b from FY 2024). Profit margin: 0.1% (up from 0% in FY 2024). The increase in margin was driven by lower expenses. New Risk • Nov 29
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 Risk Revenue has declined by 18% over the past year. Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (₫283.6b market cap, or US$10.8m). Reported Earnings • Oct 17
Third quarter 2025 earnings released: EPS: ₫257 (vs ₫170 loss in 3Q 2024) Third quarter 2025 results: EPS: ₫257 (up from ₫170 loss in 3Q 2024). Revenue: ₫201.3b (down 14% from 3Q 2024). Net income: ₫7.83b (up ₫13.0b from 3Q 2024). Profit margin: 3.9% (up from net loss in 3Q 2024). New Risk • Sep 12
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 7.0% 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 Risk Revenue has declined by 23% over the past year. Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (₫347.6b market cap, or US$13.2m). New Risk • Feb 26
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 5.2% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (81% accrual ratio). Market cap is less than US$10m (₫256.1b market cap, or US$9.99m). Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (5.2% average weekly change). Tillkännagivande • Feb 05
SCI E&C Joint Stock Company, Annual General Meeting, Mar 28, 2025 SCI E&C Joint Stock Company, Annual General Meeting, Mar 28, 2025. Location: 3rd floor, tower c, golden palace building, me tri road, me tri ward, nam tuliem district, hanoi., Vietnam New Risk • Aug 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₫233.8b (US$9.35m) 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 No financial data reported. Market cap is less than US$10m (₫233.8b market cap, or US$9.35m). 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. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
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. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 20
Inaugural dividend of ₫7,000 per share Eligible shareholders must have bought the stock before 27 April 2021. Payment date: 31 May 2021. This is the first dividend for SCI E&C since going public. The average dividend yield among industry peers is 2.9%. Is New 90 Day High Low • Jan 14
New 90-day low: ₫40,500 The company is down 37% from its price of ₫63,810 on 16 October 2020. The Vietnamese market is up 24% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 42% over the same period. 
