Central Pharmaceutical Joint Stock Company No3 (DP3) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2024 reached 102.4 billion VND, nearly flat year-over-year, with a six-month total of 206.1 billion VND, down from 220.6 billion VND in the same period last year.

• Net profit after tax for Q2 2024 was 27.7 billion VND, a decrease from 31.6 billion VND in Q2 2023; six-month net profit was 49.8 billion VND, down from 55.8 billion VND year-over-year.

• Gross margin for the first half of 2024 was 67.3%, slightly up from 68.8% in the prior year.

Financial highlights

• Operating cash flow for H1 2024 was 21.6 billion VND, down from 70.1 billion VND in H1 2023.

• Cash and equivalents at June 30, 2024, were 28.2 billion VND, up from 5.4 billion VND at the start of the year.

• Total assets increased to 598.2 billion VND from 570.6 billion VND at year-end 2023.

• Equity decreased to 447.5 billion VND from 468.5 billion VND at year-end 2023.

• Short-term borrowings were fully repaid by period end; long-term borrowings also reduced to zero.

Segment performance

• Pharmaceutical sales remained the core revenue driver, with minimal change in product mix.

• Financial income for H1 2024 was 7.7 billion VND, down from 12.5 billion VND year-over-year.