AsemconnectVietnam - Sonadezi Industrial Park Development Corporation (code SNZ - UPCoM) has just announced its financial statements for the third quarter of 2024 with a cumulative 9-month profit after tax of VND1,198.4 billion, completing 87% of the yearly target.

In the third quarter, Sonadezi recorded net revenue of VND1,337 billion, up 3% over the same period last year. Of which, the industrial park segment brought in VND319.6 billion; the port service segment reached VND332.8 billion; the clean water supply segment reached VND316 billion; the waste treatment segment reached VND229 billion, the rest came from other segments.
However, due to the cost of goods sold increasing more strongly than revenue by 7%, to VND875.5 billion, resulting in a 4% decrease in gross profit, to VND461.6 billion.
This period, SNZ's financial revenue decreased by 61%, to VND29.6 billion, mainly due to the decrease in dividends and profits compared to the same period. Meanwhile, financial expenses remained stable at VND27.7 billion; sales expenses reached VND24.8 billion, down 15%; and business management expenses increased by 12%, to VND103.2 billion.
In addition, the profit in SNZ's joint ventures and associates in the period increased sharply to VND43.5 billion, 22 times higher than the profit of nearly VND2 billion in the same period.
After deducting expenses and taxes, SNZ recorded a profit after tax of VND324.9 billion in the third quarter, down 9% compared to the same period; in which the parent company reached VND192.3 billion.
In the first 9 months of 2024, SNZ recorded net revenue of VND4,192.5 billion and profit after tax of VND1,198.4 billion, up 13% and 23% respectively over the same period last year. The parent company's profit after tax alone reached VND737.4 billion, up 31%.
Compared to the target of profit after tax of more than VND1,370 billion in 2024, in the first 9 months, SNZ has achieved 87% of the profit target.
By the end of the third quarter, SNZ's total assets decreased by 8% compared to the beginning of the year, down to VND21,271 billion. Of which, cash and cash equivalents reached VND2,320 billion, double the beginning of the year; short-term receivables decreased by half to more than VND914 billion.
In addition, SNZ still has VND2,233 billion in inventory, up 4%, mostly unfinished production and business expenses at the Chau Duc industrial park - urban area project worth more than VND1,500 billion.
On the other hand, Sonadezi still has about VND10,674.3 billion in payables, down 19% compared to the beginning of the year, mainly from long-term unrealized revenue, down by half to VND2,264 billion. The company's short-term and long-term debt are VND1,088.5 billion and VND3,049.8 billion, respectively.
N.Nga
Source: VITIC/Tinnhanhchungkhoan