BCG Energy is a key member of the energy sector of Bamboo Capital Group (HoSE: BCG). Established in 2017, the company currently has a charter capital of VND 7,300 billion. Currently, BCG's total assets have reached VND 20,000 billion, with equity accounting for nearly VND 10,000 billion.
In recent years, BCG Energy has consistently recorded impressive business growth results. In 2021, the company achieved revenue of VND 760 billion, and in 2022, revenue grew strongly by 40% to VND 1,064 billion. In 2023, BCG Energy's net revenue increased by 5.8%, reaching over VND 1,125 billion. For the first six months of 2024, BCG Energy's consolidated net revenue reached VND 698.8 billion, a 22% increase compared to the same period. Consolidated after-tax profit reached VND 290.7 billion, a sharp 33-fold increase compared to the first half of 2023.
BCG Energy officially listed on the stock exchange with the ticker symbol BGE.
The surge in profits is attributed to BCG Energy's effective reduction of financial costs, particularly interest expenses. Additionally, BCG Energy's growth is driven by its 600 MW solar power system, which ranks among the top three in Vietnam.
BCG Energy's capital structure has also significantly improved and gradually stabilized over the years. The debt-to-equity ratio decreased from 1.9 times at the end of 2022 to just 0.99 as of June 30, 2024. In addition, the debt-to-equity ratio also decreased from 1.25 at the end of 2022 to 0.64 as of June 30, 2024.
BCG Energy's renewable energy segment has become a crucial pillar, generating the largest revenue for Bamboo Capital Group. Specifically, Bamboo Capital Group's cumulative revenue for the first six months of the year reached VND 2,100.3 billion, a 15.7% increase compared to the same period last year. BCG Energy's renewable energy segment contributed VND 698.8 billion to Bamboo Capital's revenue, equivalent to 32.8%.
BCG Energy currently owns a portfolio of nearly 1 GW approved under the Power Development Plan 8, with a vision for implementation until 2030. Notably, a series of large-scale wind power projects, including Dong Thanh 1 (80 MW) and Dong Thanh 2 (120 MW) in Tra Vinh province; and Khai Long 1 (100 MW) in Ca Mau, will be implemented by BCG Energy this year and are expected to be operational in 2025. Once operational, these projects will help BCG Energy increase its total power generation capacity by approximately 53% and become a leading renewable energy enterprise in Vietnam.
Another notable highlight in BCG Energy's business operations is its entry into the waste-to-energy sector. On July 20th, Bamboo Capital Group and BCG Energy commenced construction of the Tam Sinh Nghia waste-to-energy plant in Cu Chi, Ho Chi Minh City. Alongside the construction of the Tam Sinh Nghia plant, BCG Energy will soon launch waste-to-energy projects in Long An and Kien Giang provinces. This expansion into the waste-to-energy sector is expected to boost BCG Energy's revenue and contribute to Vietnam's clean energy transition.
To meet the growing demand for large-scale energy projects, in addition to raising capital from banks and financial institutions, and domestic and international partners, listing on the UPCoM exchange will help BCG Energy more easily raise capital for its upcoming potential energy projects.
Comment (0)