Ssi Securities Corp. · HOSE:SSI

Ssi Securities — Q4 2023 Earnings Presentation

16 slides from Ssi Securities's earnings presentation, January 2024

  1. Slide 1: SSI Earnings Call

    . SSI EARNINGS CALL January 2024

  2. Slide 2: Earnings Call 4Q2023

    . EARNINGS CALL 4Q2023 01 BUSINESS ENVIRONMENT 03 Q&A 02 EARNINGS UPDATE

  3. Slide 3: Business Environment

    . BUSINESS ENVIRONMENT

  4. Slide 4: Securities market at a glance

    Securities market at a glance Vietnam outperformed region peers Liquidity declined in Q4 but still higher than 1H 2023 (USD Mn) 130% 1,000 719 120% 800 112% 110% 600 100% 400 90% 200 80% 0 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-23 Feb-23 Mar-23 Apr-23

  5. Slide 5: Margin Lending on the market

    Margin Lending on the market 200,000 3.5% 180,000 180,000 3.1% 3.0% 160,000 140,000 2.5% 120,000 2.0% 100,000 1.5% 80,000 60,000 1.0% 40,000 0.5% 20,000 - 0.0% 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 Margin lending Margin lending/ Market Cap 7

  6. Slide 6: Fundamental strength remains intact

    Fundamental strength remains intact Market earnings performance saw signs of improvement KRX launching is still a potential catalyst for the market 91.6% 76.3% 1H2024: 11th Dec 2023: Go-live 36.7% Preparation for 6th Nov go-live 19.8% 16.4% 2023: FAT 15.6% 11.3% 9.5% 11th Sep 2023: NFR -2.8% -5.0% 1

  7. Slide 7: 2024 Market Outlook

    2024 Market Outlook 2023 2024 GDP Growth rate: 5.05% 6.0-6.5% CPI: 3.25% 3.8% VNIndex: 1,129.9 ( +12.2%) ~1300 (+ 15%) Earnings Growth: -4,6% 14,3% Average Daily Trading Value: VND 17,471 Bn VND 18,000 – 20,000 Bn Source: SSI Research

  8. Slide 8: 4Q2023 Earnings Update

    . 4Q2023 EARNINGS UPDATE

  9. Slide 9: Solid 4Q.23 Financial Results

    Solid 4Q.23 Financial Results Quarterly Revenue and Profit Before Tax (VND bn) Strong performance in revenue of all business units (VND bn) 1,200 2,023 1,000 1,905 1,000 1,599 1,465 1,457 800 600 508 843 439 345 387 656 616 400 335 590 289 169 180 200 12 16 - 4Q22 1Q23 2Q23 3Q23 4Q23 Margin loans &

  10. Slide 10: FY23 Financial Results

    FY23 Financial Results FY 2023 Revenue and Profit Before Tax (VND bn) Revenue breakdown (%) 8,000 6,985 10% Securities services (margin, 7,000 6,256 brokerage, custodian) 6,000 9% 5,000 Principal investment 4,000 3,128 2,705 41% 45% 3,000 1,980 2,002 1,8001,568 1,7671,566 2,000 632 670 1,000 79 52 T

  11. Slide 11: Strong consolidated earnings 2023

    Strong consolidated earnings 2023 8,000 ~105% 7,285 AGM Plan 7,000 6,917 6,000 5,000 Consolidated Actual vs Plan (VND bn) 4,000 ~112% AGM Plan 2,848 3,000 2,540 2,000 1,000 - Revenue Profit before tax 2023 Plan 2023 Actual Source: SSI estimates 13

  12. Slide 12: Brokerage & Margin Lending segment

    Brokerage & Margin Lending segment Brokerage & Margin Lending revenue (VND bn) PBT margin of Brokerage & Margin lending services 600 549 50% 500 439 431 388 40% 400 345 360 350 39% 335 338 35% 280 30% 31% 30% 300 29% 200 20% 26% 100 10% - 0% 4Q22 1Q23 2Q23 3Q23 4Q23 3Q2022 4Q2022 1Q2023 2Q2023 3Q202

  13. Slide 13: Principal Investment Segment

    Principal Investment Segment Principal Investment Revenue by Quarter (VND bn) Principal Investment Revenue by Year(VND bn) 1,200 70% 3,500 3,128 1,000 3,000 1,000 60% 2,702 58% 51% 50% 2,500 800 753 48% 679 696 2,032 1,980 40% 2,000 600 36% 508 34% 30% 1,500 391 1,122 400 358 359 355 968 20% 1,000 7

  14. Slide 14: Q&A

    . Q&A

  15. Slide 15: Investor Relations Dept.

    . INVESTOR RELATIONS DEPT. Address: 1C Ngo Quyen Street, Hoan Kiem District, Hanoi, Vietnam Tel: (84 - 24) 3936 6321 Email: investorrelation@ssi.com.vn Website: https://www.ssi.com.vn/en/investor-relation

  16. Slide 16: Thank You

    . THANK YOU

SSI Securities — Q4 2023 Earnings Presentation on 6ix