Gemadept Group (GMD) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was VND 1,264.1b vs VND 997.9b; parent-company profit was VND 335.0b vs VND 254.1b YoY.

• 9M 2024 revenue reached VND 3,420.6b, while parent-company profit was VND 1,224.8b vs VND 2,106.7b; the prior-year comparison included different profit and scale from capital-transfer businesses.

Financial highlights

• Q3 gross profit was VND 581.3b vs VND 464.7b; operating profit was VND 576.1b vs VND 396.9b.

• Q3 profit before tax was VND 500.7b vs VND 397.8b; profit after tax was VND 448.4b vs VND 338.5b.

• 9M gross profit was VND 1,532.7b vs VND 1,350.7b; profit after tax was VND 1,549.5b vs VND 2,310.5b.

• 9M financial income was VND 388.4b vs VND 1,916.8b, including lower proceeds from transfers of long-term financial investments than in the prior period.

Segment performance

• 9M port-operation sales were VND 2,923.7b vs VND 2,117.8b; logistics services, asset leasing and other sales were VND 496.9b vs VND 694.2b.

• 9M port-operation costs were VND 1,536.8b vs VND 1,149.2b; logistics-services costs were VND 351.0b vs VND 312.1b.