AsemconnectVietnam - Asia Group AIG Materials Joint Stock Company (Asia Group, code AIG) recorded a profit of VND202.69 billion in the third quarter, accumulated profit in the first 9 months of 2024 recorded a profit of VND634.5 billion, up 9.6% over the same period and completed 71.3% of the yearly plan.

In the third quarter of 2024, Asia Group recorded revenue of VND3,111.96 billion, up 6.6% over the same period, profit after tax reached VND202.69 billion, up 9.7% over the same period. In which, gross profit margin decreased from 15.3% to 15.1%.
During the period, gross profit increased by 4.9% over the same period, equivalent to an increase of VND21.79 billion, to VND468.54 billion; financial revenue increased by 43.6%, equivalent to an increase of VND12.77 billion, to VND42.06 billion; financial expenses decreased by 6.3%, equivalent to a decrease of VND2.41 billion, to VND35.66 billion; profit from joint ventures and associates increased by 487.5%, equivalent to an increase of VND9.36 billion, to VND11.28 billion; sales and business management expenses increased by 10.2%, equivalent to an increase of VND21.72 billion, to VND235.53 billion and other activities fluctuated insignificantly. Accumulated in the first 9 months of 2024, Asia Group recorded revenue of VND8,890.95 billion, up 2.9% over the same period, profit after tax reached VND634.5 billion, up 9.6% over the same period last year.
In 2024, Asia Group plans to have revenue of VND12,950 billion, profit after tax of VND890 billion.
Thus, ending the first 9 months of the year with profit after tax of VND634.5 billion, Asia Group has completed 71.3% of the yearly plan.
It is known that previously, in 2023, Asia Group recorded a decrease in revenue of 7.5%, to VND11,915.37 billion, profit after tax decreased by 1%, to VND786.96 billion.
In terms of cash flow, in the first 9 months of 2024, Asia Group's main business cash flow only recorded a positive VND9.97 billion compared to the same period of positive VND1,449.5 billion, a decrease of VND1,439.53 billion. In addition, also in the period, investment cash flow was negative VND106.7 billion and financial cash flow was slightly positive VND23.1 billion. In terms of asset size, as of September 30, 2024, Asia Group's total assets increased by 3.5% compared to the beginning of the year, equivalent to an increase of VND333.62 billion, to VND9,840.6 billion. Of which, the main assets of cash and short-term financial investments recorded VND2,268.6 billion, accounting for 23.1% of total assets; inventories recorded VND2,516.5 billion, accounting for 25.6% of total assets; Short-term receivables recorded VND1,932.5 billion, accounting for 19.6% of total assets; fixed assets recorded VND1,291.5 billion, accounting for 13.1% of total assets; other long-term assets recorded VND930.8 billion, accounting for 9.5% of total assets and other items.
During the period, the main volatile assets were inventories, which increased by 14.7% compared to the beginning of the year, equivalent to an increase of VND323.4 billion, to VND2,516.5 billion; short-term receivables increased by 9.7% compared to the beginning of the year, equivalent to an increase of VND170.2 billion, to VND1,932.5 billion; cash and short-term financial investments decreased by 22.6% compared to the beginning of the year, equivalent to a decrease of VND662.9 billion, to VND2,268.6 billion.
Asia Group further explained that the largest receivable is VND365.3 billion from Vietnam Dairy Products Joint Stock Company (code VNM - HOSE).
Regarding capital sources, as of the end of the third quarter of 2024, Asia Group's total short-term and long-term debt increased slightly by 2% compared to the beginning of the year, equivalent to an increase of VND49.7 billion, to VND2,551.1 billion and equal to 43.9% of total equity. Of which, short-term debt is VND2,502.9 billion and long-term debt is VND48.2 billion.
Asia Group has just been approved to trade 170.6 million AIG shares on the UPCoM market on October 22 and has not announced the first trading date.
N.Nga
Source: VITIC/Tinnhanhchungkhoan