AsemconnectVietnam - Ha Tien Cement Joint Stock Company (Vicem Ha Tien, stock code HT1) has just announced its financial report for the third quarter of 2024 with both revenue and profit growing strongly. After 9 months, Vicem Ha Tien has exceeded 90% of the annual profit plan.

In the separate financial report for the third quarter of 2024, Ha Tien Cement Joint Stock Company recorded revenue of VND1,638 billion, an increase of 3.9% compared to the results achieved in the same period last year. Profit after tax in the third quarter reached VND22.3 billion, while in the same period last year it lost VND10.5 billion.
In the consolidated financial report for the third quarter of 2024, Vicem Ha Tien's net sales revenue reached VND1,638 billion, an increase of nearly 4% compared to the same period last year. Profit after tax reached VND22.6 billion, a sharp improvement compared to the loss of VND10.26 billion in the same period last year.
Explaining the reason for the company's high profit in the period, Vicem Ha Tien said that the profit in the third quarter of 2024 in the company's consolidated report increased by more than VND32.91 billion compared to last year, equivalent to an increase of 320.8% mainly due to the parent company's after-tax profit increasing by VND32.91 billion. The main reasons for the impact were that cement consumption output in the third quarter of 2024 increased by 8.5% compared to the third quarter of 2023. At the same time, financial expenses in the period decreased by VND11.97 billion, of which interest expenses decreased by VND21.14 billion, mainly due to lower interest rates and reduced outstanding loans.
Accumulated in the first 9 months of the year in the consolidated financial report, Vicem Ha Tien's revenue reached VND5,041 billion, down 4% compared to the same period last year. However, after-tax profit reached VND43.8 billion, a sharp improvement compared to the loss of more than VND37 billion last year.
In 2024, Vicem Ha Tien set a target of total revenue of VND7,032 billion and after-tax profit of VND23 billion. With the results achieved after 9 months, the enterprise has completed 77% of the revenue plan and exceeded 90% of the profit target for the whole year.
In terms of financial situation, as of September 30, 2024, Vicem Ha Tien had total assets of more than VND8,245 billion (down 4.3% compared to the figure at the beginning of the year). Liabilities were more than VND3,387 billion, mainly short-term debts (recorded short-term debt balance of VND3,366 billion). Liabilities account for 41% of HT1's total capital. The company's equity reaches VND4,859 billion, including VND918 billion of development investment fund and VND44 billion of undistributed profit after tax.
N.Nga
Source: VITIC/Tinnhanhchungkhoan