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Viglacera exceeded the profit target in 2023 in the first 7 months 

 Wednesday, August 2,2023

AsemconnectVietnam - On July 31, 2023, Viglacera Corporation - Joint Stock Company (HoSE: VGC) held a meeting to evaluate the results of production and business activities in July, accumulated for the first 7 months of the year and implemented the plan for the last months of 2023.

Accordingly, in July 2023 alone, consolidated profit before tax was estimated at VND296 billion, completing 150% of the monthly plan; Profit before tax Parent company is estimated at VND323 billion profit before tax, reaching 149% of the monthly plan. Accumulated in the first 7 months of the year, the consolidated profit is estimated at VND1,321 billion, reaching 109% of the plan and exceeding the profit plan in 2023 assigned by the General Meeting of Shareholders, the parent company's profit is estimated at VND1,514 billion, reaching VND1,514 billion, reaching VND1,514 billion. 116% compared to the annual plan assigned by the Board of Directors and reached 103% compared to the same period in 2022.
Thus, with the target profit before tax of the Corporation this year is VND1,210 billion, the parent company is VND1,310 billion, by the end of July, the consolidated profit of the Corporation has exceeded 9%; The parent company exceeded 16% of the profit target set by the General Meeting of Shareholders.
Achieving the above results is because Viglacera has promoted the strength of the real estate business. Estimated accumulated pre-tax profit in the first 7 months of the year, the whole real estate department reached VND1,495 billion, reaching 110% of the plan in 2023, an increase of VND118 billion over the same period; In which, the profit from industrial park business reached 87% of the year plan, accounting for 96% of the total profit, an increase of VND151 billion compared to the same period in 2022. Accumulated in the first 7 months of the year, the Company recorded revenue from projects: Yen Phong II-C Industrial Park, Yen My Industrial Park, Dong Mai Industrial Park... with a total land area of 132.7 ha.
Exporting construction materials is also one of Viglacera's bright spots. In the first 7 months of the year, the accumulated export value grew, exceeding 36% compared to the same period in 2022. In which, the group of ceramic tiles and construction glass are the two groups with higher growth compared to the same period in 2022, with value exceeds 124% and 10%. The Tiles segment achieved 224% revenue, double that of 2022 and currently accounts for the largest proportion of the Corporation's export turnover, equivalent to 55%.
Regarding the implementation plan in the last months of the year, for the real estate sector, Viglacera will focus on construction of technical infrastructure in Industrial Park projects: Thuan Thanh I, Tien Hai, Phong Dien, Phu Ha, Hai Yen to attract domestic and foreign businesses. It is expected that for the whole year of 2023, Viglacera will record revenue of about 218 hectares of industrial park infrastructure business, continuing to play a major role in contributing to the Corporation's overall revenue. Continue to speed up the procedures for expanding industrial park projects, upgrading services in industrial parks to meet the land fund and investment environment for foreign investors in Vietnam.
Construction materials sector continues to face short-term difficulties as the market has not shown many signs of improvement. Facing that fact, the Corporation has actively implemented solutions to maintain business efficiency such as regulating production output according to market demand, reducing production costs, focusing on strong restructuring corporate governance.
Viglacera continues to research and develop new consumer-oriented products, invest in and upgrade modern production lines at some factories, especially technology to produce green and environmentally friendly products such as Energy Saving Glass, Autoclaved Aerated Concrete bricks, and Sintered stone... to meet the demand for green building materials - the current global trend. For other fields, Viglacera will continue to follow the market to ensure the monthly consumption plan, adjust output to match market demand, and at the same time reduce inventory at some units.
Source: VITIC/Tinnhanhchungkhoan


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