Southern Basic Chemicals (CSV) earns VND79 billion in profit in Q3/2024, up 54%
Tuesday, November 26,2024AsemconnectVietnam - Southern Basic Chemicals JSC (code CSV) has just announced its consolidated financial statements for Q3/2024 and the first 9 months of 2024 with after-tax profit reaching VND203 billion, up 14%.
In Q3, CSV recorded net revenue of VND508 billion, up 25% over the same period last year. CSV said that revenue in the period increased due to the consumption of main products such as: NaOH increased by 29%, HCl increased by 49%, liquid chlorine increased by 25%, H2SO4 increased by 105%, Javel increased by 16%, PAC increased by 29% and yellow phosphorus products at subsidiaries increased by 80%. At the same time, the average selling price of products also increased by 3 - 12% over the same period, helping to increase revenue.
This period, CSV's cost of goods sold increased by 16% to VND366 billion, but the growth rate was slower than revenue, helping the company's gross profit reach VND142 billion, up 53% over the same period. Gross profit margin improved from 22.8% to approximately 28%.
In the third quarter, CSV's financial revenue decreased by 25% to VND7.5 billion. However, financial expenses increased slightly to VND922 million. In addition, selling expenses and administrative expenses in this period also increased by 45% to VND31 billion and 17% to VND19 billion, respectively.
As a result, CSV reported a tax profit of VND79 billion in the third quarter of 2024, up 54% over the same period. Of which, the parent company's profit was VND73 billion, up 51%.
In the first 9 months of 2024, CSV brought in VND1,340 billion in net revenue, up 16% over the same period, and after-tax profit reached VND203 billion, up 14%. The parent company's after-tax profit alone reached VND186 billion, up 16%.
In 2024, CSV set a business plan with consolidated revenue reaching VND1,640 billion and consolidated pre-tax profit reaching VND261 billion. With pre-tax profit for the first 9 months reaching VND255 billion, CSV has completed 98% of the annual profit target.
By the end of the third quarter, CSV's total assets reached more than VND1,838 billion, a slight increase compared to the beginning of the year. Of which, cash and cash equivalents reached VND165 billion; up 54%; short-term receivables from customers increased by 34% to VND297 billion and inventory value was more than VND308 billion, down 16%.
On the other hand, the Company still has VND318 billion in payables, up 11.6% compared to the beginning of the year, all of which are short-term debts. CSV's short-term loans alone are at VND76.8 billion, down 24%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
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