AsemconnectVietnam - Hai Phong Thermal Power Joint Stock Company (code HND - UPCoM) recently announced the resolution of the Board of Directors meeting for the 3rd session of 2024 and said that electricity production in the first 5 months of the year reached 3,238.36 million kWh, completing 41.84% of the year plan.

Accordingly, HND's 5-month electricity production revenue reached VND5,168.73 billion, completing 42.11% of the year's plan; Profit including exchange rate differences, but excluding major repair costs reached VND379.02 billion, completing 96% of the plan.
However, the major repair work in 2024 has been delayed, the Company is currently still bidding and evaluating contractor selection. This year, HND plans to majorly repair unit 2 and repair unit 4.
Looking at the whole year 2024, HND assesses that difficulties will come from factory equipment that has been in operation for over 10 years, so there are many potential risks of causing problems. In addition, the supply of coal raw materials for production is in short supply and coal prices are increasing; The market for supplies and equipment for replacement and repair tends to increase.
Meanwhile, the method of mobilizing capacity of thermal power plants in the Northern region is constantly changing, electricity market prices are changing rapidly and are difficult to predict, and the challenge of environmental protection is demanding better...
Therefore, HND plans to be cautious in 2024 with expected electricity production reaching 7,740 million kWh, an increase of 8.4% over the same period; Electricity consumption reached 7,020 million kWh, an increase of 8.2%; Total revenue reached VND12,279 billion, an increase of 7.2% but pre-tax profit is expected to reach VND393.9 billion, a decrease of 15.3%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan