On the morning of January 15, 2025, Viglacera Corporation – JSC successfully held a conference to review the results of its 2024 business and production plan and deploy the 2025 plan tasks.

The conference was attended by Deputy Minister of Construction Bui Xuan Dung, leaders of affiliated agencies under the Ministry, as well as Viglacera’s leadership and management team.

In 2024, thanks to proactive efforts and resilience in overcoming challenges from the global economic and political landscape, intense competition in both domestic and export markets, and increasingly stringent trade barriers, Viglacera achieved impressive results in business and production. The corporation exceeded the profit targets set by the General Meeting of Shareholders (GMS).

Mr.Nguyen Duc Luyen – Director of the Corporation’s Investment Planning Department presented the 2024 Work Summary Report and 2025 Plan.

Estimated results: Consolidated profit before tax of the entire Corporation reached VND 1,625 billion, exceeding the General Meeting of Shareholders’ (GMS) target by 46%. Parent company’s consolidated profit before tax was estimated at VND 1,475 billion, surpassing the annual plan by 34%. Consolidated revenue of the Corporation was estimated at VND 11,925 billion.

Profit before tax from the real estate business was estimated at VND 1,943 billion, of which VND 1,361 billion came from industrial park operations, accounting for 70% of total real estate business profits. The building materials sector also showed positive growth, with tile production and autoclaved aerated concrete exceeding profit targets by 153% and 466%, respectively.

The parent company’s pre-tax profit margin on revenue is estimated at 38%; The parent company’s total assets as of December 31, 2024 are estimated at over VND 16,000 billion, of which equity is about VND 7,900 billion, an increase of about VND 500 billion compared to the beginning of the year.

In 2024, Viglacera maintained stable growth, becoming the most profitable enterprise among the 6 enterprises with capital from the Ministry of Construction.

In the construction materials sector, the Corporation has successfully produced sintered stone in the skeleton, innovated the technology of producing sanitary ceramics with pressure forming tape, and applied PVD coating technology – the most modern surface coating solution today – to the production of shower faucets. The green and synchronous construction materials ecosystem for all projects has been widely announced by Viglacera to the entire market, thereby leading a civilized trend from production to consumption.

 The inauguration of Angsana Quan Lan Ha Long Bay Hotel & Resort has added a valuable asset to Viglacera’s assets, while opening a new direction for green economic development.

In real estate investment and business, Viglacera introduced a new model of green and smart industrial parks, with the activation of Thuan Thanh Eco Smart IP and the launch of the 5-star Angsana Quan Lạn Ha Long Bay Hotel & Resort project. Viglacera also expanded its industrial park portfolio by adding 839.04 hectares of land with approvals for three additional industrial parks: Doc Da Trang IP (Khanh Hoa Province), Song Cong II IP (Thai Nguyen Province), and Tran Yen IP (Yen Bai Province).

At the same time, Viglacera strengthened its business network, expanded its market reach to different regions, and reinforced its distribution system through the development of agents and retail stores. Viglacera has enhanced areas ranging from financial management to control operations, aligning with the structure of a public company and the prevailing domestic and international socio-economic conditions.

Deputy Minister of Construction Bui Xuan Dung emphasized that new policies and mechanisms set to be implemented could lead to significant impacts on the market and Viglacera’s production and business activities.

At the conference, Deputy Minister of Construction Bui Xuan Dung highly commended Viglacera’s achievements in 2024 and emphasized several areas requiring proactive planning, including: The valuation and divestment plans to be completed by the end of 2025. New opportunities and challenges emerging as various construction and real estate laws take effect and influence market dynamics. Maximizing experience in identifying and investing in new industrial park real estate while ensuring the timely launch of new industrial parks as planned. Intensifying investment in social housing and worker accommodations.

Regarding Viglacera’s ongoing strategy to export green building materials, the Deputy Minister highlighted unprecedented challenges expected with the launch of the Carbon Credit Exchange in 2028. These challenges will be compounded by the introduction of related regulations, implemented for the first time in Vietnam. Accordingly, Viglacera needs to implement a process for applying science and technology (S&T) and reducing CO2 emissions at its building materials production plants to lay the foundation for future export competitiveness.

In response to the insightful guidance and close direction from Deputy Minister Bui Xuan Dung, Chairman Nguyen Van Tuan expressed his appreciation and commitment to immediately incorporate these recommendations into the 2025 strategic plan.

Chairman Nguyen Van Tuan acknowledged that Viglacera has demonstrated remarkable adaptability to market fluctuations.  In 2025, the company will invite strategic consultants to collaborate in researching and outlining essential future steps. Viglacera will continue its restructuring efforts to ensure sustainable growth and long-term success. The company will advance its digitalization and modern governance practices to implement new, innovative approaches. In the real estate sector, Viglacera will concentrate on its core strengths, such as industrial park infrastructure development, commercial real estate, and social housing. Investing in Cuba is considered a critical task, with key objectives including capital preservation and accelerating investments in biotechnology factories in 2025.

General Director of Viglacera, Mr. Nguyen Anh Tuan, shared that immediately after the Board of Directors approves the production and business plan, the company’s leadership will assign tasks to each business group and subsidiary. He also highlighted that in 2025, the market is expected to show positive improvements, as new laws, decrees, and policies have been implemented with positive effects. Both the real estate and building materials sectors will therefore have opportunities for growth and transformation.

In line with the directives of the Chairman of the Board and the CEO, the units have begun to concretize these goals by signing sales agreements and cooperation contracts, clearly outlining the responsibilities of both production and business units.

Source: Viglacera