GELEX Group reached the Top 50 Reputable and Effective Public Company in 2022

On August 3, 2022, at the Reunification Hall – Ho Chi Minh City, GELEX Group Joint Stock Company (HoSE: GEX) was named in the Top 50 Reputable and Effective Public Company in 2022

Leaders of GELEX Group (middle) received the certificate at the Announcement Ceremony.

According to Vietnam Report, GELEX Group Joint Stock Company (HoSE: GEX) was ranked in the Top 50 Reputable and Effective Public Company in 2022 based on scientific and objective assessments of sales, profits, assets and market capitalization. Moreover, experts highly appreciated GELEX’s efforts in overcoming challenges and seizing opportunities in the context of economic fluctuations.

Although the economy was heavily affected by Covid in 2021, GEX completed its business plan with consolidated net revenue of VND 28,578 billion, increasing by 59.2% compared to 2020, consolidated revenue reached VND 2,057 billion, exceeding the plan by 60% and growing by nearly 72% compared to 2020.

At December 31, 2021, GELEX also achieved a market capitalization of more than VND 34,600 billion, being one of the enterprises with outstanding internal strength, a reputable and effective public enterprise.

The enterprise has just announced its financial reports for the second quarter of 2022 with a 6-month consolidated profit before tax of VND 1,485 billion, up by 47% over the same period in 2021 and completed 57% of the full year plan in 2022. Net revenue in the early 6 months of 2022 reached VND 17,715 billion, profit before tax in 6 months reached VND 1,485 billion, up 34% and 47% respectively over the same period in 2021.

In 2022, GELEX set a plan of VND 36,000 billion in revenue and VND 2,618 billion in consolidated profit before tax, a higher growth rate of 26% and 27% respectively compared to the implementation in 2021.

Besides the objective assessments of Vietnam Report, the Group’s prestige and influence is also reflected in its financial strength, growth prospects, management quality, and position in the market, said by the representative of GELEX.

In the next phase, for industrial production, GELEX continues to focus on improving business performance, expanding markets and maintaining its position as the leading unit in the segment of electrical equipment as well as expanding investment in electricity trading activities. In the segment of infrastructure, through its member units, GELEX focuses on investing in industrial parks real estate and social housing, clean energy projects, water production and business, building materials, etc., continues to implement projects on schedule while increasing efficiency of project operation and exploits projects in order to create a stable and solid revenue source in the long-term.