AsemconnectVietnam - SAM Holdings JSC (code SAM - HOSE) recorded a profit of VND8.14 billion in Q3, accumulated profit in the first 9 months of 2024 recorded VND82.65 billion and completed 102.8% of the yearly plan.

In Q3/2024, SAM Holdings recorded revenue of VND918.82 billion, up 76.6% over the same period, profit after tax reached VND8.14 billion, up 7.2% over the same period last year. In which, gross profit margin decreased from 6.9% to 5.3%.
During the period, gross profit increased by 34.7% over the same period, equivalent to an increase of VND12.48 billion, to VND48.46 billion; Financial revenue decreased by 48.3%, equivalent to a decrease of VND14.46 billion, to VND15.48 billion; financial expenses decreased by 36.4%, equivalent to a decrease of VND7.62 billion, to VND13.29 billion; profit from joint ventures and associates was recorded as negative VND7.32 billion compared to the same period, positive VND0.36 billion; sales and administrative expenses decreased slightly by 3.5%, equivalent to a decrease of VND1.21 billion, to VND33.39 billion and other activities did not fluctuate significantly.
Notably, during the period, the total gross profit and profit from joint ventures and associates were still lower than the total financial, sales and administrative expenses of up to VND5.54 billion, SAM Holdings only escaped losses mainly due to financial revenue.
Accumulated in the first 9 months of 2024, SAM Holdings recorded revenue of VND3,177.21 billion, up 118.8% over the same period, profit after tax reached VND82.65 billion, up 233.8% over the same period last year.
In 2024, SAM Holdings plans to do business with total revenue of VND2,423.78 billion, up 4.04% over the same period, profit after tax is expected to be VND80.39 billion, up 27.85% over the same period.
Thus, ending the first 9 months of 2024 with a profit of VND82.65 billion, SAM Holdings has completed 102.8% of the profit plan of VND80.39 billion in 2024. In terms of asset size, as of September 30, 2024, SAM Holdings' total assets increased by 2.6% compared to the beginning of the year, equivalent to an increase of VND170.3 billion, to VND6,762.2 billion. Of which, assets mainly invested in long-term finance recorded VND2,102.1 billion, accounting for 31.1% of total assets; short-term receivables recorded VND1,784.6 billion, accounting for 26.4% of total assets; long-term unfinished assets recorded VND1,100.9 billion, accounting for 16.3% of total assets; Fixed assets recorded VND619.2 billion, accounting for 9.2% of total assets and other items.
Notably, SAM Holdings' unfinished construction costs decreased in the first 9 months of the year, mainly due to the high-tech agricultural project no longer being recorded at VND128.4 billion compared to the beginning of the year.
It is known that on June 26, SAM Holdings unexpectedly approved the divestment of all capital at SAM High-Tech Agriculture Joint Stock Company, corresponding to the sale of all 7.2 million shares and expected to be implemented in the second quarter of 2024.
And at September 30, 2024, SAM Holdings no longer invested compared to the beginning of the year when it invested VND72 billion in SAM High-Tech Agriculture Joint Stock Company.
In addition, in terms of capital, by the end of the third quarter, total short-term and long-term debt increased by 7.6% compared to the beginning of the year, equivalent to an increase of VND88.2 billion, to VND1,247.2 billion and equal to 26.7% of total equity (at the beginning of the year, outstanding debt was VND1,159 billion and equal to 25.2% of total equity).
N.Nga
Source: VITIC/Tinnhanhchungkhoan