AsemconnectVietnam - In 9 months, An Gia Real Estate Group earned VND250 billion, completing the yearly plan and handing over many key projects. The company also reduced debt, cleared bond debt, and ensured a transparent financial situation.

Profit after tax of VND250 billion
An Gia Real Estate Investment and Development Joint Stock Company (Stock code: AGG) has just announced its consolidated financial report ending on September 30. In the first 9 months, An Gia achieved a total revenue of more than 1,750 billion VND, and the profit after tax of the parent company's shareholders reached 250 billion VND.
This year, An Gia set a plan for the profit after tax of the parent company's shareholders of VND250 billion, an increase of 43% compared to the previous year. Although this target grew very high, after only 9 months, the company exceeded 10% of revenue and completed the profit target.
An Gia is also a rare enterprise on the stock exchange at this time to announce that it has completed its annual plan, a remarkable achievement of the company's leadership team and employees in realizing its business targets.
The company also completed the plan to pay 25% dividends to existing shareholders, completing the increase in charter capital to nearly VND1,564 billion. Undistributed profit after tax at the end of the period reached VND1,305 billion.
Abundant capital helps the enterprise increase its competitiveness and consolidate financial resources, expand the scale of investment activities, and develop potential in the context of the real estate market recovering; at the same time, actively preparing resources to invest in many new projects.
A bright spot in An Gia's financial picture in 2024 is that its debt has decreased significantly. As of September 30, the debt situation had decreased by 29% compared to the beginning of the year, to VND1,036 billion. The debt/equity ratio is low and safe.
In the past 9 months, An Gia has completely resolved its bond debt, paying nearly VND315 billion, becoming one of the first real estate enterprises on the stock exchange to date to have "clean" bond debt.
As of September 30, An Gia had total assets of more than VND7,204 billion. The value of inventories was nearly VND900 billion, down 55% compared to the beginning of the year, due to the handover of products in many projects such as the Westgate complex (HCMC), The Standard isolated area (Binh Duong).
Focusing resources on project development
As planned at the beginning of the year, An Gia is preparing resources to invest and implement The Gio Riverside project (Binh Duong) with a scale of about 3,000 products. When the project is put into operation, the revenue of about VND7,000 billion will be the main source of contribution to An Gia's business results in the period of 2025-2027.
The Gio Riverside project is expected to be implemented in the context of the real estate market in the process of recovery, starting a new growth cycle. Following this growth rate, An Gia also evaluates new opportunities to promote implementation and sales in many other projects.
In the next 2-3 years, the company will develop 3 major key projects, in addition to The Gio Riverside, there are The La Village (HCMC) and Westgate 2 (HCMC), equivalent to nearly 10,000 products. The successful implementation of large-scale urban area projects with full infrastructure and utilities will help elevate An Gia to become a major real estate developer in the region.
An Gia's land fund development strategy is based on the merger and acquisition (M&A) process of projects that have basically completed legal procedures and are ready for implementation, so the project investment cycle is often quite short. This helps the company to be flexible in recovering cash flow and preserving business resources.
The company's management board expects that in the coming time, when the market recovers, An Gia's implementation and sales activities will be more vibrant, the legal promotion process of projects will be faster, and business activities will be well supported.
N.Nga
Source: VITIC/Tinnhanhchungkhoan