Báo cáo phân tích

TVB: 1H2021 Financial Results

Nguồn báo cáo: MSI

Doanh nghiệp liên quan: TVB

Ngày phát hành: 30/08/2021

Just like peers, TVB reported robust results in the first half of 2021. Revenue came in at VND 242b (3.4x pcp), driven by prop trading, which brought in VND 138b, accounting for 56% of revenue, while brokerage services produced VND 52b, taking up 21.4% of the mix. We valuate TVB at 35,700VND per share (55% - upside) by PE/PB method and 10% discount to financial industry peers.