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Ha Do (HDG) estimated to reach VND250 billion profit after tax in Q1/2023 

 Saturday, May 20,2023

AsemconnectVietnam - The General Meeting of Shareholders of Ha Do Group (HDG) has just approved the plan of consolidated revenue of VND3,225 billion and profit after tax of VND971 billion, down 9.94% and 28.7% respectively compared to 2022.

Mr. Chu Tuan Anh, Deputy General Director of HDG shared, by the end of the first quarter of 2023, HDG achieved revenue of VND976 billion and profit after tax reached VND250 billion, down 18% compared to the same period in 2022. According to HDG leaders, the energy segment continues to account for a large proportion of the Company's business structure in 2023 with nearly 70%, real estate only accounts for about 30%.
In terms of business orientation, for the real estate sector, in 2023, the Company will accelerate the resolution of the shortcomings of legal procedures in projects, strongly develop new projects to prevent product chain breakage and works. Focusing on research on development-oriented areas of Hanoi and Ho Chi Minh City. Ho Chi Minh City with the expected goal of successfully developing at least 2 projects.
According to the Board of Directors of the Group, it will not be until the end of 2023 and the beginning of 2024, when the legality of real estate projects in Hanoi and Ho Chi Minh City will be cleared. Investment and exploitation of projects at 30 Ta Quang Buu, CC3 Dich Vong.... At the same time, in 2023, the Group will also promote M&A of real estate projects, investment in new energy projects to create momentum for revenue and profit growth in the next period.
For the energy sector, focus on supplementing planning and preparing for investment in wind power projects, especially EaHleo, Phuoc Huu... so that new projects can be implemented soon. Prioritize the search and development of renewable energy sources in the provinces of Ninh Thuan, Dak Lak, Nghe An, Lang Son and Khanh Hoa. Besides, HDG also studies and implements a number of energy projects in 2023, if deemed appropriate.
According to Mr. Nguyen Trong Minh, Deputy General Director of HDG, the Company still prioritizes targeting undeveloped energy projects so that when entering the Company, it will be more effective to build and operate according to the Company's orientation.
2022 is a difficult year for the real estate market when the transaction market is quiet, legal jams and credit are tightened. Therefore, in 2022, the Group has not been able to invest in existing projects, proactively delaying the opening and selling time of the remaining apartment fund of Hado Charm Villas (Hanoi) project to an appropriate time to optimize profit making. The energy projects in the new portfolio are still waiting for the approval of the Power Plan VIII and the new price bracket for renewable energy projects.
Also in 2022, HDG has completed a number of important goals: speeding up the handover of products of Hado Charm Villas project, completing unit 3 and inaugurating DakMi 2 hydropower plant, putting it into operation fully 462MW of developed energy projects, including 314MW of hydroelectricity and 148MW of wind and solar power.
In 2022, the Group recorded revenue of VND3,581 billion, profit after tax of VND1,361 billion, this is also the highest profit level of the Company ever. In which, the two key fields of real estate and energy achieved revenue of VND1,112 billion and VND2,115 billion, respectively, accounting for 31.05% and 59.06% respectively of the Group's revenue structure.
In terms of personnel, also at the General Meeting, Mr. Dao Huu Khanh was approved to dismiss the member of the Board of Directors and elected Ms. Cao Thi Tam to replace her.
N.Nga
Source: VITIC/Tinnhanhchungkhoan

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