SSI Securities Corporation released separate earnings of 2Q2020

SSI Securities Corporation (HOSE: SSI) reported its separate earnings for second quarter of 2020. Total revenue was VND 1,379 billion and profit before tax reached VND 651.7 billion, representing an increase of 85.5% and 172.4% YoY respectively. Treasury, Brokerage, Margin Lending and Principal Investment accounted for the majority of total revenue. For the first half of 2020, SSI recorded separate revenue at VND 2,354.7 billion, and profit before tax at VND 666.8 billion. The Company estimated 1H2020 consolidated profit before tax at VND 600 billion, marking an 29% growth YoY, and delivering 76% of 2020 profit plan.

Vietnam witnessed a strong market rally in the second quarter of 2020. Liquidity surged more than 40% compared to the first quarter of 2020, reaching VND 6.500 billion per session on average. Average trading value of 1H2020 was more than VND 5.600 billion, up 21.4% compared to those of 2019. VN-Index increased by 25% since the lowest point at March, making Vietnam was one of the strongest recovery markets worldwide.  SSI continued to top the brokerage market-share rank with 14.13% at HOSE and 7.63% at HNX. Revenue from brokerage fee was VND 190.8 billion, up 46% YoY. Number of new accounts increased approximately 10% YTD, which mostly are active, making total accounts managed by SSI reached nearly 180,000 at the end of 2Q2020.

Favorable market condition lead to the growth of SSI Principal Investment, with revenue reaching VND 734 billion, increasing more than 400% YoY. The Company also lead the market in term of issuance value of CW, which was more than VND 287 billion at the end of May, accounting for 29% of total market issuance value

In addition, the Company focused on strengthening treasury activities with leading banks and credit institutions to flexibly use and optimize company’s capital. 2Q2020 income from Treasury reached VND 313 billion, up 17.8% YoY and accounting for 23% of total revenue. Investment Banking and other revenue recorded at VND 20.3 billion in the second quarter, marking a sharp increase in compared with those of 2Q2019.

2020 was the 9th time that SSI was honored with “Best Brokerage in Vietnam” award at FinanceAsia Country Awards – the prestigious award of financial sector in the region. The Company also received “Best Retail Broker in Vietnam” award for the 5th time and “Best M&A House in Vietnam” award at Alpha Southeast Asia’s Awards 2020, together with two awards “Best Overall Asset & Fund Manager” and “Best Fund Manager for Insurance, ILP Mandates & Private retirement schemes” for SSI Asset Management.

SSI planned to spend VND 600 billion on cash dividend payment (10% par value) at the end of July. Previously, the Company also completed stock issuance for stock dividend with a rate of 16% on April 2020.

Please follow this link for the Summary of 2Q2020 Financial Statements.

INVESTOR RELATIONS

SSI 

1C Ngo Quyen, Hoan Kiem, Hanoi, Vietnam

T: (84-24) 3 936 6321 ext. 772 | F: (84-24) 3 936 6319 

E: [email protected] | W: www.ssi.com.vn