Viglacera’s profit plan is VND 1.110 billion in 2024

The 2024 Annual General Meeting of Shareholders (GMS) took place on the morning of May 29 and approved the Production and Business Plan and many other important contents.

Exceeded profit plan in 2023, paid 20% dividend

At the General Meeting, Viglacera leaders said that in 2023, with geopolitical and world economic fluctuations and real estate business difficulties, the company was faced with unprecedented challenges.

Overview of VGC’s 2024 Annual General Meeting of Shareholders

However, the Board of Directors and Leadership of the Corporation have operated decisively, proactively and flexibly. Therefore, by the end of 2023, the consolidated profits before tax of Viglacera Corporation – Joint Stock Company in 2023 was VND 1602 billion, reaching 132% of the year plan. In particular, the parent company has shown its leading role with net revenue of VND 5.337 billion, profits before tax of VND 1.911 billion, reaching 146% of the year plan, an increase of VND 201 billion compared to the implementation in 2022. The parent company’s finances are operated, used and preserved effectively; profit growth. The parent company’s return on total assets (ROA) is 10.7%; Return on equity (ROE) is 22.1%.

Also in 2023, the total export turnover of the whole Corporation has reached USD 46.3 million, an increase of 53%. The General Meeting of Shareholders approved dividends (expected 22.5%) in cash, 20% higher than the approved plan of the General Meeting of Shareholders.

Real estate will continue to be the main segment in 2024 

Grasping the positive movements of the general context, in 2024, Viglacera advocates regulating production according to actual market consumption, balancing appropriate product structure, proactively saving costs; stabilize jobs and income for workers in the current period.

The company targets consolidated revenue of VND 13.353 billion and consolidated profit of VND 1.100 billion. As for the Parent Company, the target revenue is VND 4.939 billion and profit is VND 1.100 billion. The Parent Company’s expected dividend payment in 2024 is 20%/year.

In particular, export will focus on developing products with suitable criteria for sale and export to European, American and Asian markets.

Also in 2024, investment work will focus on deploying cold repair of the float glass production line at VIFG Company, oriented to develop thin products to meet the requirements of the solar battery manufacturing industry; Implementing a series of in-depth investment activities, improving production capacity and product quality in the sanitary ware, shower faucet, and tiles according to the category of plan; Develop “green” material products, promote the effectiveness of super white glass products, sintered stone, post-glass products…

For investments in the Real Estate sector, the company reviews and accelerates the progress of site clearance compensation at ongoing industrial park and housing projects: Focus on synchronous investment in technical infrastructure and services in projects with the desire to attract domestic and foreign investors; Invest in additional utility works, improve environmental quality, and integrate smart technology in activities at the Industrial Park towards a green and smart industrial park.

Viglacera’s Yen Phong 2C Industrial Park in Bac Ninh

Viglacera will make efforts to search for new Industrial – Urban – Service – Social housing and worker housing projects in many localities; Prioritize the implementation of the Government’s Program of 1 million social housing apartments and participate in the implementation of the Investment Program of 50,000 worker housing units in the period 2022-2030.

It is expected that in 2024, Viglacera will complete investment in 2.180 social housing apartments; Invest in amenities (green trees, security, services, etc.) in social housing areas and worker housing to attract customers and create a good environment for residents to live.

The General Meeting of Shareholders unanimously approved the reports, production, business and investment plan targets for 2024, profit distribution plan, dividend payment plan for 2023…and all other contents.