AsemconnectVietnam - In the second quarter, although the average selling price of some main products decreased, sales volume increased sharply, helping CSV's profit after tax reach VND77 billion, an increase of 38%.

Southern Basic Chemicals Joint Stock Company (code CSV) has just announced its financial statements for the second quarter of 2024 with net revenue growing by 34% over the same period, reaching VND481 billion. Cost prices also increased by 30% to VND345 billion, so corporate gross profit increased by 46%, to VND135 billion.
CSV said that in the second quarter, although the average selling price of some main products decreased, consumption increased sharply such as: NaOH increased by 42%, HCl increased by 36%, liquid chlorine increased by 27%, H2SO4 increased by 38%, Javel increased 16% and PAC increased 56%...
This period, CSV's financial revenue decreased by nearly half to VND6.8 billion due to reduced deposit interest. Financial costs were also reduced by 75%, to nearly VND370 million. In addition, CSV's business management costs also decreased by 5% to VND19 billion, but selling costs increased by 32%, to VND26 billion.
As a result, CSV reported profit after tax in the second quarter of VND77 billion, an increase of 38%. The parent company brought in VND69 billion.
Cumulatively in the first half of 2024, Southern Basic Chemicals' net revenue increased by 11%, to VND832 billion, and profit after tax remained flat over the same period, reaching VND126 billion. The parent company's profit was VND116 billion, an increase of 3%.
This year, the Company sets a conservative business plan with consolidated revenue reaching VND1,640 billion and consolidated pre-tax profit reaching VND261 billion (excluding dividends from subsidiaries of VND15 billion), increasing respectively 3% and 13% compared to 2023 results.
Thus, with VND159 billion in pre-tax profit achieved in 6 months, CSV has completed nearly 61% of the year's profit plan.
As of June 30, 2024, CSV's total assets reached VND1,806.9 billion, an increase of nearly 5% compared to the beginning of the year. Of which, CSV's cash and cash equivalents increased nearly 20%, reaching VND128 billion; Short-term financial investments increased slightly to VND565 billion.
In addition, CSV's short-term receivables also increased by more than 28%, to VND302 billion; Inventory is almost flat at VND365 billion.
On the other side of the balance sheet, CSV decreased by 11.5% compared to the beginning of the year, to VND253 billion. CSV's debt/equity ratio is only 0.16.
N.Nga
Source: VITIC/Tinnhanhchungkhoan