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GELEX (GEX) accumulated profit of VND1,388 billion in 9 months of 2023 

 Wednesday, November 22,2023

AsemconnectVietnam - GELEX Group Joint Stock Company (stock code: GEX) has just announced business results for the third quarter of 2023 and the first 9 months of the year.

Accordingly, in the third quarter alone, GELEX's consolidated net revenue reached VND7,487 billion, an increase of 6.7%; Gross profit reached VND1,395 billion, up 5.2% over the same period; Gross profit margin reached 18.6%, equivalent to the same period last year. Consolidated pre-tax profit reached VND374 billion, up 32.6% over the same period.
Accumulated in the first 9 months of 2023, GELEX's consolidated net revenue reached VND21,893 billion; Pre-tax profit reached VND1,388 billion, exceeding 9.2% of the whole year 2023 plan.
In terms of business segments in the third quarter, net revenue from the electrical equipment segment reached VND4,177 billion, up 25.1% over the same period. Gross profit reached VND426 billion, up 26.4% over the same period.
According to GELEX's report, the energy and clean water segment operated stably, recording VND414 billion in net revenue, the highest level since the beginning of the year, up 14.4% over the same period; The construction materials segment brought in VND2,132 billion in net revenue for GELEX, down 18.3% over the same period. However, the third quarter gross profit margin of the construction materials segment reached 15% and gradually improved after a sharp decrease in the first and second quarters of this year; The real estate and industrial park segment reached VND746 billion in net revenue, an increase of 18.8% over the same period.
Regarding the financial situation, as of September 30, 2023, GELEX's total assets reached VND54,284 billion, an increase of 3.6% compared to the beginning of the year. GELEX's debt ratios and solvency ratios continue to maintain at a stable, safe level and have not changed much compared to the previous quarter and the beginning of the year.
In addition to maintaining market stability in business segments, GELEX directs its member units to focus on investment in research and development of new products to create new spearheads.
N.Nga
Source: VITIC/Tinnhanhchungkhoan

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