Dong Nai Port Joint Stock Company earns an average profit of 1 billion VND per day.
Dong Nai Port reported a net profit of 90 billion VND in the third quarter of 2024, an increase of nearly 12% compared to the same period last year, equivalent to a profit of over 1 billion VND per day.
According to the recently released third-quarter financial report, Dong Nai Port Joint Stock Company (stock code: PDN) recorded net revenue of approximately VND 333 billion, an 11% increase compared to the same period last year. Gross profit for this period exceeded VND 128 billion, an 8.5% increase compared to the same period. The gross profit margin therefore reached 38.4%.
Both financial and selling expenses were significantly reduced compared to the third quarter of the previous year. Specifically, financial expenses decreased by 31% to VND 1.5 billion, while selling expenses decreased by 37.2% to VND 3.6 billion.
After deducting expenses, Dong Nai Port reported a pre-tax profit of VND 111 billion, an increase of 14.4% compared to the same period last year. After- tax profit reached VND 90 billion, 11.8% higher than the same period last year.
In a document submitted to the Ho Chi Minh City Stock Exchange (HoSE), the company stated that double-digit revenue growth was driven by the development of improved inter-provincial and inter-regional transportation infrastructure in the Southern key economic region. Dong Nai Port focused on investing in infrastructure, berths, and specialized handling equipment to ensure timely container handling and reduce congestion. In addition, traditional cargo sources such as alumina, wood pellets, and the lease of commercial cargo such as chemicals and coal to supply the factory maintained stable production levels compared to the same period last year.
For the first nine months of the year, Dong Nai Port achieved revenue of 968 billion VND, an increase of over 16% compared to the same period last year. Gross profit exceeded 370 billion VND, with a gross profit margin of 38.3%.
The company recorded pre-tax profit of approximately VND 323 billion and after- tax profit of over VND 260 billion, representing increases of 22.3% and 21.4% respectively compared to the same period last year.
This year, Dong Nai Port is expected to achieve revenue of VND 1,217 billion, an increase of 1.8% compared to 2023. After-tax profit is estimated at VND 296 billion, an increase of 0.5% compared to last year. After the first three quarters, the company has completed 79.5% of its revenue plan and 87.8% of its profit target.
At the 2024 Annual General Meeting of Shareholders, the management board stated that the company will continue to develop logistics services, adding value around its core services of loading and unloading and ICD (Inland Container Depot). The company said it will persuade customers importing raw materials such as waste paper and waste plastic to use Dong Nai Port due to its advantages in customs procedures and border crossings.
As of the end of September, the company's total assets amounted to approximately VND 1,589 billion, a slight increase compared to the beginning of the period. Short-term liabilities accounted for over VND 877 billion in the company's asset structure. Liabilities totaled nearly VND 436 billion, an increase of 21.4%, or VND 77 billion, compared to the beginning of this year. The majority of the company's liabilities are short-term.
Dong Nai Port's equity capital is approximately VND 1,153 billion, and its undistributed after-tax profit is over VND 361 billion.
On the stock exchange, PDN shares are currently trading at 106,000 VND. Compared to the highest price of the year recorded in mid-July (122,500 VND), this stock has decreased by 13.5%. The average trading volume over the last 10 sessions is only 340 units. With over 37 million shares listed on the HoSE exchange, the company's market capitalization is over 3,926 billion VND.
Source: https://baodautu.vn/cong-ty-co-phan-cang-dong-nai-lai-binh-quan-1-ty-dong-moi-ngay-d227612.html
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