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Play on Consumer Demand: NETCO

Located in Bien Hoa – Dong Nai Industrial Zone – Vietnam, NETCO is recognized as an official member of VINACHEM (Vietnam National Chemical Group). Established in 1968, changed into a joint stock company in 2003, and officially listed on Ha Noi Stock Exchange since September 2010, HNX:NET has a long record of experience and extraordinary capacity in manufacturing and supplying detergent, and has been acknowledged as a keen competitor in the industry.

NETCO has a strategic partnership with Unilever. Inc, to manufacture products under international trademarks i.e. OMO, SURF, Sunlight,VIM, as well as other brands for exporting to New Zealand, Thailand and India. The across-the-board cooperation with Unilever in manufacturing, R&D, and training, has brought NETCO the chance to take off since 1999. Today NETCO has a well-trained, ambitious and dedicated staff team that meets all regional requirements and are ready for further challenges in the future.

In addition to the key contract with Unilever, NETCO also signed agreements for exporting detergent and cleaner to Japan (until 2012) and to Philippines (until 2019), in unlimited quantities. Therefore the consumption of company’s products will be guaranteed in the upcoming years.

According to the statistics of Vietnam National Chemical Group, the detergent and cleaners market has experienced a stable growth rate of approximately 10% per year. To catch up with demand, the company is also investing in two new production lines to increase its capacity.

With signed contracts in hand, NETCO is forecasted to show a steady growth in the future. The company reported revenue of VND 81.25 billion for the Fiscal Year 2010; EPS approximately reached VND 18,000.


Company Statistics


Stock Statistics

1/28/2011

Bloomberg code

NA

Last price (VND)

86000

52-week range (VND)

140000 – 75200

Shares O/S (m)

4.5

Mkt cap (VNDbn)

387000

Mkt cap (USDm)

19.85

Est. free float (m shrs)

NA

3m avg daily vol (shrs)

NA

VND/USD

NA

Index: VNIndex/HNX

NA


 

Financial Details



VND bn except where stated

2008

2009

2010

Sales

317,832.3

378,695.9

493,329.3

Sales Growth (%)





30.27

EBITDA

30,212.6

94,046


Net income

24,218.1

80,937.7

81,249.7

EPS (VND, unadjusted)

7,339

21,699

18,055

EPS growth (%)


-16.79%

195.67%

DPS (VND)

1,200



PER (x)



3.96

P/EBITDA (x)




P/sales (x)




PBR (x)




ROE (%)

113.17%

88.02%

47.41%

ROIC (%)




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Peter Pham is a capital market specialist and entrepreneur.  With expertise as a Head of Institutional Sales and Trading he closely watches the market and probes for investment opportunities utilizing a unique blend of quantitative trading experience and macro trend analysis… (read more)

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