Viglacera approved a cash dividend of 20% in 2022, setting a target of total revenue in 2023 of VND 15,750 billion
On May 11, 2023, in Hanoi, Viglacera Corporation – JSC held the 2023 Annual General Meeting of Shareholders (GMS). The meeting approved some important contents.
Cash dividend in 2022 was 20%
In the general assessment in 2022, the world economic situation had diverse complicated changes, high inflation in many countries, causing a sharp decrease in consumer shopping trends, affecting the recovery of the global economy after more than 2 years of being heavily affected by the Covid-19 pandemic. This had greatly affected the market situation in Vietnam. Although confronting difficulties in 2022, with the drastic direction and management of the Board of Directors and the Board of Management of the Corporation, effective, flexible business strategies and timely solutions at units/factories, Viglacera Corporation JSC successfully completed the plan of the 2022 General Meeting of Shareholders and continued to affirm its position as a leading enterprise in the construction segment.
Accordingly, the consolidated profit of the Corporation – Joint Stock Company in 2022 was VND 2,305 billion, reaching 136% of the year plan, with profit increasing by VND 747 billion compared to 2021. In particular, the parent company showed a leading role with a profit of VND 1,709 billion, reaching 142% of the year plan. The General Meeting of Shareholders approved a 20% cash dividend, exceeding 4% of the plan approved by the General Meeting of Shareholders.
Target total revenue of VND 15,750 billion, equal to 108% over the same period
2023 is considered that there are still many difficulties, the Board of Directors of the Corporation held a meeting to agree to submit the General Meeting of Shareholders to approve the business plan in 2023 with the target of total revenue of VND 15,750 billion, profit before tax of VND 1,210 billion. The Company plans to maintain a cash dividend of 20% in 2023, equivalent to that in 2022.
From the beginning of the year, Viglacera has directed its units/factories to adjust production according to the situation of domestic and export markets, balance the appropriate product structure, and focus on developing high-quality products, proactively save reasonable costs to ensure production and business efficiency, and stabilize jobs and incomes for workers in the current period.
For export segment: Focus on expanding sales and exporting in European, American and Asian markets.
In 2023, Viglacera focuses on investing in key projects, not spreading investment. For building materials segment: Focus on investing in upgrading modern machinery, equipment and lines at a number of factories; Expand and invest in additional projects at VFG, PFG ultra clear float glass factories; Complete the investment and bring sintered stone products to the market in May 2023 at Viglacera Eurotitle factory to meet domestic and foreign demand. For investment in the segment of Real Estate: Review and speed up the progress of compensation for site clearance in the ongoing industrial and housing projects: Focus on synchronous investment in technical infrastructure and services in projects to attract domestic and foreign investors; Survey, research, and make investment implementation plans for 38 projects in localities; Deploy investment in social housing in the period of 2022-2030 under the direction of the Government. Continue to invest in projects in the Republic of Cuba and conduct investment research in the Dominican Republic.
At the end of the meeting, all statements were approved.