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1. Crane segment (Favco)
- accidentally lower earning from crane business as lack of one off gain, eg forex (24Q2 -1.5m vs 24Q1 +4.1m / 23Q2 +7m)
- If take off all the one off items, the core PBT in 24Q2: 14.9m vs 24Q1: 14.7m / 23Q2: 7m
2. Concession segment (mainly from airports)
- Recorded PBT 16.9m in 24Q2 (+40.6% compare 24Q1 / +77.2% compare 23Q2)
- Surprising good as Q2 & Q3 used to be low travel season in Cambodia
- Passengers in 24Q2 recorded 1.136m (+13% compare 23Q2)
- Passengers in July continue growth with +23% y-y
3. Infrastructure Construction segment
- reported PBT 40m (compare 8.7m in 24Q1 / loss 1m in 23Q2)
- highest quarter profit since 2018
Overall fantastic result.
But concern on order-book replenish as year-to-date yet to get any award.
For airport segment, Yes..
the airport charge base on USD. Guess the main cost (staff) pay in Cambodian Riel.
But both currency movement quite similar (natural hedge). Should not affect much on margin there.. Only the net profit convert back will have the impact.
Hopefully can cover with the passengers continuous growth~ July/August traffic volume quite ok so far..