Biwase continues to seek investment opportunities in core industries

Talking at the Congress, Mr. Nguyen Van Thien, Chairman of Biwase, said that in 2023, the general impact of inflation, global economic recession, and conflicts in many regions will make economic recovery difficult. The Covid-19 pandemic is more difficult. Many businesses had to close or cut production, leading to a decrease in water consumption and a decrease in the amount of waste received.

Mr. Nguyen Van Thien, Chairman of Biwase Report on business results in 2023 and business orientation in 2024. Photo Le Toan

“To achieve the 2023 goal set by the General Meeting of Shareholders, the Board of Directors and Executive Board have made efforts to seek opportunities to develop the Company, so the Company's 2023 business results will increase more than compared to 2022", Chairman Nguyen Van Thien emphasized.

By the end of 2023, Biwase recorded total revenue of VND 3.978 billion, reaching 100,2% of the plan, up 2% over the same period; after-tax profit recorded a profit of VND 601 billion; and basic construction disbursed during the year was VND 370 billion. In particular, the water loss rate continued to maintain a record low of 5%.

Talking about outstanding business activities in 2023, Mr. Nguyen Van Thien said that in the month of April 2023, the Company completed negotiations to buy shares of water supply companies in Long An (4 companies became subsidiaries, 1 company became an affiliate) and 1 water supply company in Quang Binh also become an affiliate.

"Under Biwase's management, the purchased units have been profitable," Mr. Nguyen Van Thien emphasized, emphasizing that investments in the water supply industry have begun to make profits.

In the month of May 2023, Con Voi commercial branch, Con Voi organic fertilizer brand Binh Duong held a launching ceremony for 7 organic fertilizer products with different packaging, names, and uses suitable for all types of crops. The products are licensed for nationwide circulation by the Plant Protection Department, Ministry of Agriculture and Rural Development.

In the month of September 2023, Biwase successfully organized the Biwase brand identity announcement ceremony and the Vietnam Water Week 2023 event.

In December 2023 month, Biwase put into operation a 5 MW waste-to-energy plant and an 840-ton/day organic fertilizer production line - phase 4. The inauguration ceremony was held in January 2024 month.

"This is a factory where the Company has technology autonomy from design to operation," Mr. Nguyen Van Thien happily shared about putting the waste incineration power generation plant into operation.

November 2023 month, at the Vietnam M&A Forum 2023 with the theme "Joining hands for prosperity" organized by Investment Newspaper (Ministry of Planning and Investment) organization, the Company received the award of Best M&A Companies in Vietnam 2023. Photo Le Toan

In addition to business activities, in the month of June 2023, Biwase was voted by Forbes magazine into the Top 50 best listed enterprises in Vietnam 2023, this is the 4th consecutive year the Company has been honored; in the month of July 2023, the Company was honored to receive two major national awards including "Enterprise for sustainable green economic development" and Top 10 representatives of Companies in the field of clean water and environmental sanitation in Vietnam, the award "Famous Brand - Competitive Brand of Vietnam 2023"; in the month of November 2023, at the Vietnam M&A Forum 2023 with the theme "Joining hands for prosperity" organized by Investment Newspaper (Ministry of Planning and Investment) organization, the Company received the award of Best M&A Companies in Vietnam 2023.

Entering 2024, Chairman Nguyen Van Thien commented that the economy will have many positive changes, especially at the end of the year. With experience and high determination, the Company will continue to promote good governance, continue to make efforts to fulfill the responsibilities that shareholders have entrusted to it, ensuring that the Company always develops in scale, Financially sustainable and environmentally friendly.

“Continue to implement well the investment and development plan, ensuring the supply of clean water in the provinces where the Company participates in investing such as Dong Nai, Binh Phuoc, Can Tho, Long An, Quang Binh. In addition, the Company ensures safe water supply, clean and safe environment for investors, ensuring that water loss is maintained or lower than the current level", Chairman Nguyen Van Thien emphasized the 2024 strategy.

Regarding financial targets, in 2024, Biwase plans a revenue of 4.100 billion VND, an increase of 3,1% over the same period, and an expected profit after tax of at least 700 billion VND, an increase of at least 16,5% over the same period. With implementation in 2023, the expected cash dividend is 13% and the water loss rate of the entire Company is 5% or less.

In the field of water supply, the Company invests in pipelines to bring water to developing remote areas in Binh Duong and provinces with Biwase's water supply services; continue to complete and submit clean water price plans for approval; Invest in upgrading the capacity of Nhi Thanh water plant by 60.000 m3/day, increasing Gia Tan's capacity by 2025 to 40.000 to 50.000 m3/day...

For the waste sector, research and invest in market expansion in strategic places; Research deeper and more modern waste treatment solutions; continue to research and find output solutions for recycled products, especially Con Voi Binh Duong fertilizer; Invest in a trash incinerator with a capacity of 500 tons/day combined with 12 MW electricity generation; continue to complete and submit waste pricing plans; and complete legal documents for the solid waste treatment complex in Tan Long commune, Phu Giao district, Binh Duong province.

For the wastewater sector, continue to deploy and strengthen customer connection work for wastewater; continue to complete and submit for approval the unit price plan for domestic wastewater drainage services; Strengthen asset management and maintenance to operate effectively, contributing to protecting the water environment.

“Regarding mergers and acquisitions (M&A), if there are good opportunities, in the field of water supply and waste in places with effective potential, within the scope of Biwase's capital, the Company will continue to Continue investing in core industries. In particular, the Company has invested capital in companies in Dong Nai, Long An, Quang Binh...", Mr. Nguyen Van Thien emphasized that he will continue to seek M&A opportunities in core areas if favorable opportunities arise. .

Regarding project implementation, continue to monitor and organize the implementation of legal documents for the Long Thanh Water Highway project in Dong Nai province; invest capital to serve the development needs of Biwase companies investing in Dong Nai, Long An, Quang Binh, etc.; implement water supply projects for Becamex - VSIP Industrial Parks; have a strategy to mobilize appropriate capital sources such as ADB's ODA capital with less conditions (without the guarantee of Goverment), World Bank (WB), Japan International Cooperation Agency (JICA), German DEG Financial Organization... to implement production and business projects on water supply, waste and financial investment.

Investment Electronic Newspaper – Baodautu.vn Continue to update information about Biwase's 2024 Annual General Meeting of Shareholders.