HAH – Update – Optimistic outlook driven by sustained high charter rates
Posted: May 21, 2026
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In 1Q26, HAH’s net profit surged 28.6% yoy, driven by margin expansion, due to sustained high charter rate rates, coupled with operating cost optimization leveraged through its partner port ecosystem.
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HAH’s 2026 net profit is forecast to grow a modest 2.8% YoY, pressured by elevated fuel costs and prior charter renewals in 2025, before rebounding strongly by 18.7% YoY in 2027, driven by sustained high time charter rates and aggressive fleet expansion.
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Recommend ADD on HAH with a target price of VND 78,800/share.
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