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EVNGENCO3 (PGV) continues to reduce debt by more than VND4,488 billion in 2023 

 Friday, February 9,2024

AsemconnectVietnam - Power Generation Corporation 3 - Joint Stock Company (EVNGENCO3 - stock code PGV) announced the fourth quarter financial report and production and business results in 2023.

Specifically, the cumulative electricity production output in 2023 of parent company EVNGENCO3 will reach 29,566 billion kWh, completing 91.73% of the plan approved by the General Meeting of Shareholders. The parent company's total revenue reached VND44,827 billion, completing 92.5% of the year's plan; Pre-tax profit of the parent company reached VND1,706 billion.
As of December 31, 2023, EVNGENCO3's asset scale reached nearly VND56,161 billion. The capital structure improved sharply thanks to a decrease in liabilities by the end of the fourth quarter by nearly 12% compared to the beginning of the year. Of which, short-term and long-term financial lease loans alone decreased by a total of VND4,488 billion, down to VND35,765 billion. Continuously in recent years, EVNGENCO3 has made efforts to reduce debt and keep the Corporation's finances healthy.
EVNGENCO3 said that the factories ensure stable operation, meeting the mobilization of the power system, especially during the peak period of the dry season (April-May 2023), thanks to ensuring fuel (coal, DO oil). ). In addition, EVNGENCO3 achieved most of the economic - technical indicators according to the assigned plan, of which many indicators have improved very well such as: self-use electricity rate, fuel consumption rate, stoppage rate. machine malfunction.
Repair and maintenance work was completed safely, with quality, on schedule, contributing to ensuring electricity production. The Corporation has successfully implemented 08 major repair projects for 21 customers inside and outside EVN. A typical example is the successful completion of a number of SCL projects outside of EVNGENCO3 such as overhauling power units of Duyen Hai 3, Quang Ninh, Pha Lai Thermal Power Plants...
During the year, the Corporation also signed a contract to provide maintenance, repair and operation services for Hiep Phuoc LNG Power Plant phase 1, capacity of 1200 MW for Hiep Phuoc Power Company Ltd. and is urgently prepare conditions for reception, operation management, repair and maintenance of Phu My 3 BOT Power Plant
In 2023, EVNGENCO3 has completed the remaining dividend payment for 2022 at a rate of 14.5%, equivalent to approximately VND1,629 billion; At the same time, refunding the Development Investment Fund to pay dividends and advance dividends in 2023 at a rate of 9.26%, equivalent to an amount of VND1,040 billion.
Orientation in the coming time, the Corporation will continue to synchronously implement management and technical solutions to improve reliability and safety in operation; continue to implement the program to reduce the loss of coal-fired power plants; improve the quality of coal fuel sources for operation; Promote the management and consumption of ash and slag, especially at Vinh Tan Electricity Center. EVNGENCO3 also strives to shift energy towards clean energy, promote construction investment, develop repair services, focus on training resources, strongly apply digital transformation and promote structure.
Source: VITIC/Tinnhanhchungkhoan


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