Dam Sen Water Park's business is effective, leadership salaries have increased sharply, and hundreds of billions of dong in savings are deposited in the bank.

Earn more than 45 dong for every 100 dong, leaders' salaries increase sharply

Dam Sen Water Park JSC (HOSE: DSN) has just announced its consolidated financial statements (audited) for 2023, recording net revenue of nearly VND 249 billion, an increase of 7% compared to 2022. Cost of goods sold was VND 93 billion, helping the business earn a gross profit of approximately VND 156 billion, an increase of 3%.

During the period, financial revenue reached more than VND 23 billion, up 53% over the same period last year. Meanwhile, financial expenses were nearly VND 2 billion, an insignificant fluctuation compared to 2022; sales expenses reached VND 12 billion, up 50%; business management expenses were more than VND 23 billion, up 10%.

As a result, Dam Sen Water Park reported a profit after tax of VND 113 billion in 2023, an increase of 5% compared to 2022. Correspondingly, the profit margin on revenue (profit after tax/net revenue) at Dam Sen Water Park in 2023 reached 45.3%, which means that for every VND 100 in revenue generated, Dam Sen Water Park earned more than VND 45.

In addition to the large profits, the income of Dam Sen Water Park's leaders also increased last year. Accordingly, the income and remuneration of the company's key people in 2023 is 16.4 billion VND, a sharp increase compared to 9.7 billion VND last year.

Of which, the income of Mr. Tran Viet Anh - Chairman of the Board of Directors increased from 975 million VND to 1.7 billion VND; the income of Mr. Phuong Xuan Thuy - Member of the Board of Directors increased from 297.7 million VND to 723.3 million VND; the income of Mr. Vu Ngoc Tuan - General Director increased from 2 billion VND to 3.7 billion VND.

Say no to debt, "save" hundreds of billions of dong in the bank

As of December 31, 2023, Dam Sen Water Park's total assets reached VND 347 billion, an increase of more than VND 60 billion compared to the beginning of the year. Of which, cash at the company was more than VND 3 billion, non-term bank deposits were more than VND 2 billion, term deposits under 3 months were VND 33 billion, and term deposits under 12 months were VND 231 billion.

Thus, by the end of 2023, the amount of money and bank deposits of Dam Sen Water Park was about 270 billion VND, an increase of 7% after 12 months. This amount brought the company nearly 20 billion VND in interest during the year, contributing to the growth of corporate profits.

In addition, Dam Sen Water Park also spent more than VND 42 billion to invest in securities of Vietnam Pharmaceutical Corporation (DVN); OPC Pharmaceutical Joint Stock Company (OPC) and Viet A Commercial Joint Stock Bank (VAB). It is known that in 2023, Dam Sen Water Park earned more than VND 3 billion from selling business securities.

On the other side of the balance sheet, Dam Sen Water Park's liabilities as of December 31, 2023 were nearly VND30 billion, down VND3 billion compared to the beginning of the year. Notably, the company did not record financial debt.

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