According to GELEX’s consolidated financial statements, the outstanding bond due within 1 year (as of December 31, 2022) of this enterprise is VND 1236 billion.

On February 20, Gelex Group Joint Stock Company (GEX) bought back VND 104.9 billion out of VND 122 billion of outstanding bonds of lot BONDGEX/2020.02 and VND 45.4 billion out of VND 57.1 billion in the circulation of lot BONDGEX/2020.01.

Both of the above bonds were issued in July 2020 and are expected to mature in July 2023. This is GEX’s 8th pre-maturity bond buyback since December 2022.

Gelex has a very fast decrease in bonds outstanding, with only VND 800 billion due in 2023.

In total, in the past 4 months, GEX has bought back VND 494 billion of bonds, equivalent to the plan set out in November 2022. Particularly from the beginning of 2023, the value bought back is about VND 350 billion.

Thus, GELEX only has to pay more than VND 880 billion of bonds due from March to the end of 2023.

In terms of financial situation, as of December 31, 2022, Gelex’s total assets were VND 52,401 billion, down 14% compared to 2021, mainly reducing short-term assets because Gelex actively reduced inventory storing, reduced short-term revenue, and reduced short-term financial investments.

From the financial statements, it can be seen that Gelex’s financial indicators such as debt ratio, payment ratio, and operating efficiency ratio, … were all at safe levels and continue to improve well in the fourth quarter of 2022.

The stable financial situation helped Gelex face less risk in the context of volatile capital markets and interest rates.