HVN – Update – Profits recover strongly as fuel prices cool
Posted: Aug 18, 2026
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In 1H2026, HVN recorded strong revenue growth, reaching VND 75,186 billion (+28.4% YoY), but due to a sharp rise in fuel costs, net profit reached only VND 3,653 billion, down 41.6% YoY.
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Net profit for FY 2026 is expected to decline sharply by 44.2% YoY before recovering by 50.9% YoY in 2027, once jet fuel prices cool down combined with positive growth in international passenger traffic.
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We recommend ADD with a target price of VND 31,300/share.
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