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EVNGENCO3 (PGV): Total revenue of the parent company reached VND35,099 billion in the first 9 months of 2023 

 Thursday, November 16,2023

AsemconnectVietnam - According to the recently announced financial report, Power Generation Corporation 3 (EVNGENCO3, stock code PGV - HoSE) reached VND35,099 billion in revenue in the first 9 months of the year, reaching 72.4% of the year plan.

After 9 months, the parent company's gross profit margin reached 11.54% and earned VND1,472 billion in pre-tax profit, completing 60% of the plan approved at the 2023 Annual General Meeting of Shareholders.
According to the latest update, accumulated electricity output in the first 10 months of 2023 is estimated to reach 22,545 million kWh, equal to 78.5% of the year plan, total electricity production revenue of the Parent Company is estimated to be VND34,341 billion, reaching 81% of the plan. Power Generation Corporation 3 will continue to strive to implement solutions to optimize all aspects of operations to complete the planned goals and tasks approved by the 2023 Annual General Meeting of Shareholders.
Compared to the same period in 2022, the electricity output sold in the third quarter of 2023 is lower due to the impact of load demand on the electricity system, the gas system stops annual maintenance and repair carried out in September 2023 and the situation. Favorable hydrological conditions, hydroelectric plants are exploited and operated at high levels, reducing the mobilization of EVNGENCO3's coal and gas thermal plants.
EVNGENCO3 achieved most of the economic - technical indicators according to the plan assigned by EVN, of which many indicators recorded good improvements such as: self-consumption electricity rate, fuel consumption rate, machine stoppage rate.
The target rate of machine stoppages due to incidents of coal, gas, and hydroelectric thermal power plants has all improved well, reaching much lower than the assigned plan, especially after more than 3 years of implementing the project to reduce incidents from 2015. 2020. Thanks to that, the usability factor is improved.
By the end of the third quarter of 2023, EVNGENCO3's total assets reached nearly VND59,130 billion. Most of the Corporation's assets lie in tangible fixed assets, which are owned power plants with a net value after deducting accumulated depreciation of approximately VND 37,000 billion. The debt ratio improved significantly thanks to the debt scale continuing to decrease by nearly 13.4% in the first 9 months of the year. Short-term and long-term financial lease loans decreased by a total of VND3,949 billion, down to VND36,550 billion. Compared to the end of 2018 - the time after the Corporation completed equitization and listed shares on the stock exchange; financial lease debt has decreased by more than 40% after 5 years.
With a capacity of 6,559 MW at the parent company and its subsidiaries and affiliated companies, EVNGENCO3's total electricity output in the 5-year period from 2018 to 2022 is 162.86 billion kWh, an average of 32.57 billion kWh/year, contributing an average of 13.23% of electricity output to the national electricity system.
Source: VITIC/Tinnhanhchungkhoan


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