AsemconnectVietnam - In fiscal year 2024 (from April 1, 2024 to March 31, 2025), Halcom targets a consolidated profit after tax of VND17.8 billion, a sharp improvement compared to a loss of VND12.53 billion in 2023. However, by focusing all resources on investment activities, in the first quarter (from April 1 to June 30), the Company lost more than VND21.2 billion.

Halcom Vietnam Joint Stock Company (code HID) has just announced the resolution of the Annual General Meeting of Shareholders for fiscal year 2024 (accounting period from April 1, 2024 to March 31, 2025) held on September 26.
In 2024, Halcom targets consolidated sales and service revenue of VND382.3 billion, up 22% year-on-year. Accordingly, consolidated profit after tax is expected to reach VND17.8 billion, a sharp improvement compared to the loss of VND12.53 billion in 2023.
This year, the Company will continue to effectively operate Phuong Mai 3 Wind Power Plant with the goal of supplying about 50 million kWh/year. At the same time, complete the construction of the Nhon Hoi Water Supply System Phase I project with a capacity of 10,000 m3/day and night, put into operation from the end of 2024 and develop an expansion plan to increase the capacity to 20,000 m3/day and night for the following year.
Halcom also continues to effectively operate Thuan Thanh water plant with the current capacity of nearly 7,000m3/day and night and plans to increase the capacity to 12,000 m3/day and night. In addition, it is completing legal procedures for waste-to-energy projects, offshore wind power and some other potential projects.
Regarding consulting activities, the Company will promote bidding for consulting services, implementing a number of ODA consulting contracts in the markets of Laos, Cambodia, and Myanmar.
Regarding the business situation in the first quarter of 2024 (from April 1 to June 30), Halcom's revenue reached VND76.7 billion, an increase of 19% over the same period last year because this year the Company expanded its business areas, had additional revenue from the clean water supply segment and other revenue from the operation of Thuan Thanh Water JSC - a new subsidiary that was M&A at the end of last year.
However, the Company still lost more than VND21.2 billion after tax because Halcom continues to focus all resources on investment activities in the construction of long-term clean energy projects such as: Nhon Hoi Water Project, Da Nang Waste-to-Energy Project, Quang Binh Wind Power Project, Phuong Mai 3 Resort Project, Hau Giang 2 Project and some other projects.
Thus, compared to this year's profit target of VND17.8 billion, the Company is still far from the annual plan.
Regarding the dividend payment plan, in 2023, Halcom will not pay dividends to shareholders, because the Nhon Hoi Economic Zone Water Plant project, Binh Dinh province is in need of capital to supplement progress and some new projects are in need of capital to complete legal procedures. Therefore, the after-tax profit will be allocated partly to the Nhon Hoi Water Project and partly to new projects in 2024.
N.Nga
Source: VITIC/Tinnhanhchungkhoan