Hanoi - Hai Duong Beer revenue increased by 10%, profit decreased by 40% compared to 2022

Hanoi - Hai Duong Beer Joint Stock Company (HNX: HAD) has announced its financial report for the fourth quarter of 2023, recording revenue of VND 27 billion, an increase of VND 4 billion compared to the same period last year. At the same time, the company reported a loss after tax of more than VND 1 billion, while in the last 3 months of 2022, it made a profit of more than VND 100 million.

Explaining the difference in after-tax profit compared to the same period last year, Mr. Tran Huy Noan, Director of Hanoi - Hai Duong Beer, informed that the company switched from profit in the same period last year to loss in this period due to high input material prices.

In addition, reduced consumption due to unfavorable weather and the impact of a series of measures under the State's policy on preventing the harmful effects of alcohol abuse also affected the company's business results.

Accumulated for the whole year of 2023, Hanoi - Hai Duong Beer brought in 167 billion VND in revenue, an increase of 10% compared to 2022 and 6 billion VND in profit after tax, a decrease of 40%.

It is known that in 2023, Hanoi - Hai Duong Beer plans to achieve revenue of 162 billion VND, net profit of more than 4 billion VND. Thus, with the above business results, the company has completed the plan for both revenue and profit set out earlier.

As of December 31, 2023, Hanoi - Hai Duong Beer's total assets reached VND 94 billion, an insignificant change compared to the beginning of the year. Of which, cash was more than VND 600 million, bank deposits under 3 months were nearly VND 3 billion, and term deposits were VND 45 billion.

Hanoi - Hai Duong Beer inventory is 20 billion VND. The majority is raw materials and supplies with 14 billion VND; tools and equipment 3 billion VND; Production and business costs 2 billion VND...

On the other side of the balance sheet, Hanoi - Hai Duong Beer's payable debt reached VND19 billion, an increase of about VND1 billion after 12 months. Notably, the company did not record financial debt.

Hanoi - Hai Duong Beer Joint Stock Company was converted from a state-owned enterprise (Hai Duong Beer - Beverage Company) according to Decision No. 3192/QD-UB dated August 12, 2003 of the People's Committee of Hai Duong province, in which Hai Duong Provincial Party Committee represents the State capital accounting for 55% of charter capital.

On April 19, 2004, the Ministry of Industry (now the Ministry of Industry and Trade ) issued Decision No. 756/QD-TCCB allowing Hanoi Beer Alcohol Beverage Corporation (now Hanoi Beer Alcohol Beverage Corporation) to buy back the State capital managed by Hai Duong Provincial Party Committee to become a member enterprise of Hanoi Beer Alcohol Beverage Corporation.

At the close of trading on January 16, 2024, HAD shares of Hanoi - Hai Duong Beer JSC were traded at VND 16,000/share, down 2.44% compared to the previous session.

2023 is considered the year to strengthen the handling of violations related to the regulation "don't drive after drinking alcohol", especially Decree No. 100/2019/ND-CP (Decree No. 100) of the Government regulating administrative sanctions for violations in the field of road and railway traffic.

Sharing with Lao Dong in October 2023, Colonel Nguyen Quang Nhat - Head of the Department of Propaganda and Dissemination of Laws on Traffic Order and Safety, Traffic Police Department (Ministry of Public Security) said that from 2022, the Traffic Police force will focus on handling alcohol concentration violations nationwide. Alcohol concentration checks are carried out by the functional forces on holidays, New Year and peak periods.

According to Colonel Nguyen Quang Nhat, the Ministry of Public Security and local police's increased handling of alcohol concentration violations "received the support and consensus of the people", changing people's habits in a positive direction - if you drink alcohol, do not drive, thereby gradually forming a culture of participating in traffic.

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