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Ton Dong A earned VND209.8 billion profit before tax in the first half of 2023 

 Saturday, August 19,2023

AsemconnectVietnam - Ton Dong A Joint Stock Company, one of the leading companies in the production and supply of galvanized steel sheet, has just announced the business results of the second quarter of 2023 and the first half of 2023.

Signs of recovery and pre-tax profit of VND209.8 billion in the first half of 2023
In the context that the galvanized steel sheet market is going through difficult fluctuations and challenges, the company has demonstrated its position, continues to maintain its market share in the top and is about to be approved for stock trading on UPCoM in 2023.
Regarding business activities, Ton Dong A Joint Stock Company has just announced its business results report for the second quarter of 2023 and the first half of 2023. Experiencing 2022 when the world and domestic economies witness many fluctuations and challenges. In fact, Ton Dong A has consolidated to have a recovery in the first quarter of 2023 and especially the second quarter of 2023.
In the second quarter of 2023, Ton Dong A recorded total revenue of VND4,792 billion, equaling 71% over the same period last year but increasing 22% compared to the previous quarter. Total net profit in the second quarter of 2023 reached VND122.6 billion, equaling 97.4% over the same period but increasing by 50.3% compared to the first quarter of 2023. Net profit margin in the second quarter of 2023 showed an improvement with an increase of 0.7% YoY and 0.5% QoQ thanks to the reduction of expenses such as interest and expenses operation. This is a positive sign that the company has maintained its recovery and positive performance in the challenging economy.
In the first 6 months of 2023, the Company achieved a total business output of 377,000 tons, total revenue of VND8,734 billion and total profit after tax of VND204.3 billion, respectively achieving the set annual plan of 50%, 51% and 102%. Although revenue and profit decreased relative to the same period last year, mainly due to the unusual fluctuations of the global economy in 2022, this is a significantly positive result compared to the second half of 2022. This shows the stability and strength of Ton Dong A in overcoming market challenges.
It is expected that the galvanized steel sheet industry will recover in the second half of 2023 to 2024
In the context that the galvanized steel sheet market is undergoing many fluctuations, Ton Dong A still has a positive position and outlook in the construction materials industry supplying the construction and home appliances markets. The demand for construction and infrastructure in Vietnam and the region is expected to continue to increase, creating opportunities for the company to expand market share and invest in development. The outlook of the galvanized steel sheet market in the second half of 2023 to 2024 is expected to recover and improve, driven by increased demand for construction and infrastructure with strong policies. The recovery of the economy and large-scale projects being implemented will be positive impacts on the demand for galvanized steel.
Ton Dong A has built a prestigious brand name and reliable product quality in the market. The commitment to governance, quality and service, along with technical capabilities, modern technology, pioneering digital data transformation, software application in operations helps the company maintain its leading position, respond flexibly to fluctuations and competition in the global economy.
Besides, the trend of sustainable construction and use of environmentally friendly materials also creates opportunities for the company to develop new products. The company has adjusted its strategy to reflect new trends and opportunities in the market. With the motto of focusing on sustainable and environmentally friendly products, Ton Dong A not only meets the requirements of customers but also contributes to the construction of the environment and green life. Ton Dong A is investing in installing solar power in main factories, which is expected to be put into use in the fourth quarter of 2023. According to calculations, when put into use, it will reduce about 25% of the cost compared to using electricity as before.
Ton Dong A is in the process of completing the registration procedure for stock trading (MCK: GDA) on UPCoM to conduct stock trading during the year. The performance outlook and stock trading preparation roadmap show the company's determination and foresight in promoting sustainable development.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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