Thursday, July 18,2024 - 9:57 GMT+7  Việt Nam EngLish 

Biwase (BWE) profited VND270 billion in 5 months 

 Monday, June 17,2024

AsemconnectVietnam - In the first 5 months of 2024, BWE brings in VND1,493 billion in revenue and VND270 billion in profit after tax, completing 36% and 39% of the yearly plan, respectively.

Binh Duong Water - Environment Joint Stock Company (Biwase, code BWE) has just announced the results of production and business activities in May 2024. In May, BWE recorded total revenue of VND323 billion, an increase of 8% over the same period last year and profit after tax of VND44 billion, a decrease of 35% over the same period.
In the first 5 months of 2024, BWE brings in VND1,493 billion in revenue and VND270 billion in profit after tax. But this result did not record the revenue of VND206 billion from the waste treatment field.
This year, the company targets revenue of over VND4,100 billion and profit after tax of VND700 billion. Thus, after 5 years and months, Biwase has achieved 36% of the revenue target and 39% of the year's profit target.
In June, Biwase will continue to increase water supply capacity for daily life and production at peak consumption times. Speed up investment in projects in the 2024 production and business plan, focusing on increasing the capacity of 2 factories in Long An to 60,000m3/day and night and Chon Thanh to 30,000m3/day and night. At the same time, complete the documents and procedures to establish 3 one-member limited liability companies.
In a recent analysis report, Mirae Asset Securities forecasts that in 2024, BWE's expected revenue will increase by 7.1% over the same period, reaching VND3,776 billion, while net profit is estimated to recover to VND757 billion, up 12.3% over the same period. Overall, Biwase's revenue and net profit in the period 2024-2028 will remain stable at 6.6% and 15.6% per year thanks to two main factors.
First, water supply activities will continue to lead with revenue of VND2,445 billion (up 5.4% over the same period) in 2024, mainly coming from the consolidation of BWE LA. According to the board of directors, it is expected that by the end of 2024, Binh Duong province will approve a water price increase of 5%/year for the period 2024 - 2028, and similarly in Long An, BWE LA's water price is expected to increase by 9%/year in 2024 - 2025.
Second, interest costs are expected to decrease sharply by 12% in 2024 thanks to the ability to structure interest rate reductions.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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