AsemconnectVietnam - Vietnam Rubber Industry Group - VRG (code GVR) said that entering the third quarter, rubber entered the main exploitation season, combined with positive signs of recovery in rubber prices, helping to improve the Group's business activities.

At the working session of the State Capital Management Committee at enterprises with GVR on September 30, Mr. Le Thanh Hung, General Director of GVR, said that in the first 9 months of 2024, the Group's consolidated revenue and other income are estimated at VND16,207 billion, reaching 64.8% of the yearly plan; consolidated pre-tax and after-tax profits are estimated at VND2,850 billion and VND2,386 billion, respectively, reaching 69% of the yearly plan.
Estimated for the whole year of 2024, consolidated revenue and other income will reach VND26,307 billion (exceeding the annual plan by 5.23%), consolidated pre-tax profit will be VND4,450 billion (exceeding the plan by 8%) and consolidated after-tax profit will be VND3,746 billion (exceeding the plan by 9%).
At the parent company - Group, in the first 9 months of 2024, revenue and other income will be VND2,413 billion (equal to 60.5% of the plan); pre-tax profit/after-tax profit will be VND1,011 billion (equal to 69.5% of the plan). Estimated for the whole year of 2024, revenue and other income will be VND4,287 billion (exceeding the plan by 7.5%) and pre-tax profit/after-tax profit will be VND1,670 billion (exceeding the plan by 14.87%).
Mr. Le Thanh Hung assessed that in the first 6 months of 2024, due to objective factors of climate change, especially prolonged drought, which greatly affected the latex harvest output and the local labor shortage in some areas and the price and input costs for production continuously increased, the Group's production and business activities in the first half of the year were difficult when the targets were not much higher than the same period in 2023.
Entering the third quarter, rubber has entered the main exploitation season of the year, plus the rubber price movement has shown signs of recovery more positively than the forecast plan. The reason is that the supply is unusually weak and declining in the main producing countries in Southeast Asia such as Thailand and Indonesia; and the demand for purchase has increased from the two countries of China and India, so the main production and business activities in the rubber sector of the Group have many advantages.
However, in 2024, other sectors besides rubber will face many difficulties due to the complicated and unpredictable developments in the world with many geopolitical instabilities and escalating military conflicts in some countries and regions, causing instability and disrupting the supply chain in some products and industries in which the Group is operating.
In 2025, GVR forecasts that the world and domestic socio-economic situation will continue to develop rapidly, complicatedly and unpredictably; the world economy will continue to face many difficulties and challenges. Economic growth and consumer demand in many major economies will recover slowly; inflation in some countries around the world; fluctuations in world commodity prices (gasoline, gold, etc.), natural disasters, epidemics, climate change, etc. will develop unpredictably.
Accordingly, compared to the estimated implementation in 2024, in 2025, GVR sets a target of consolidated revenue and other income of about VND27,490 billion, up 4.5%; consolidated pre-tax profit of VND4,632 billion, up 4.10% and consolidated after-tax profit of VND3,900 billion, up 4.1%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan