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Ton Dong A (GDA): Business results in the first half of 2024 exceeded plan 

 Thursday, July 4,2024

AsemconnectVietnam - Ton Dong A Joint Stock Company (code GDA - UpCOM) successfully organized the 2024 Annual General Meeting of Shareholders on June 28, with many important business and investment plans approved.

In particular, at the Congress, the Company's Board of Directors shared information that it achieved 58% of the yearly plan in just the first 6 months of the year, with sales output reaching about 445,000 tons, continuing to affirm its position as one of the leading enterprises in the galvanized steel industry.
Production and financial planning
For fiscal year 2024, Ton Dong A targets total sales volume to reach 780,000 tons, up 0.6% over the previous year. The financial plan for 2024 targets revenue of VND18,000 billion and profit after tax of VND300 billion, an increase of 3.2% and 5.6% respectively compared to the previous year. The company plans to distribute a maximum dividend of 30%, a combination of cash and shares.
Mr. Nguyen Thanh Trung, Chairman of the Board of Directors of Ton Dong A, said that according to forecasts of experts and organizations, the economy is expected to show signs of improvement in 2024. However, the economic situation still remains many unpredictable variables. Ton Dong A and businesses in the industry are recording a decline in domestic market demand compared to 2023, although some other sectors show signs of good growth. Ton Dong A remains vigilant, adjusting strategies to adapt to the fluctuating economic environment and seize new opportunities.
Mr. Nguyen Thanh Trung emphasized that, despite market fluctuations, Ton Dong A's efforts have brought positive results, demonstrating the Company's operating capacity. Ton Dong A's business orientation for 2024 and the future continues to be to improve quality and brand reputation; maintain outstanding and differentiated product quality; develop high-quality product segments; maintain and expand domestic and export market share; and bring value to shareholders and investors.
Plan to invest in new factories and expand production
Currently, the Company is actively marketing and developing its brand, with products such as KING, WIN and SVIET receiving good recognition from the market. Ton Dong A maintains a steadfast commitment to quality and innovation. The company invests in advanced methods, technology and employee training to improve production efficiency and product quality.
Investment plan of the new factory (Factory 4) will begin construction at the end of 2024 and is expected to be completed and put into commercial operation in the second quarter of 2026. Phase 1 of this factory will produce 300,000 tons of high quality galvanized steel products per year for the export market, with a pre-arranged bank loan capital of VND2.5 trillion, accounting for over 60% project capital structure. With this project, Ton Dong A will focus on quality and brand reputation, develop high-quality product segments, structure and expand domestic and export markets.
In addition, Ton Dong A is continuing to research and invest in potential projects to carefully diversify to maximize value for shareholders. In investment decisions, Ton Dong A is always careful and flexible in navigating future challenges and seizing new opportunities to ensure sustainable growth.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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