Danapha Pharmaceutical Joint Stock Company (code DAN) has just announced its financial statements for the second quarter of 2024 with net revenue reaching over VND 151.6 billion, up 4.6% over the same period last year. After deducting expenses, Danapha's pre-tax profit was VND 22.3 billion, down 30% over the same period last year. Net profit was VND 15.8 billion, down 37.8% over the second quarter of 2023. According to the explanation, the main reason was due to the loss in the EUR exchange rate difference.
Danapha recorded a sharp decline in business results after changing ownership. Source: TL
In the first 6 months of 2024, Danapha recorded net revenue of more than VND 284 billion and pre-tax profit of VND 50.3 billion, up 7% and down 9% respectively over the same period last year. After-tax profit also decreased by 14% compared to the first half of last year, down to VND 37.8 billion.
In 2024, Danapha plans to achieve total revenue from other business and investment activities of VND545 billion, with pre-tax profit target of VND77 billion. Thus, by the end of the first June, the company has completed 65% of the annual profit plan.
Q2 business results plummeted after Danapha changed ownership in March 2024 after Danhson VN Co., Ltd. successfully purchased 13.8 million DAN shares, equivalent to 66.072% of capital. The transaction method was negotiated. After the transaction, Danhson VN officially became Danapha's parent company.
By April 2024, Danhson VN continued to successfully purchase more than 1 million DAN shares (transaction value of more than VND 10.2 billion). Thus, the number of shares this company holds after the transaction at DAN increased to more than 14.86 million shares (equivalent to 70.97%).
Danapha, formerly known as Trung Trung Bo Pharmaceutical Factory (code name K25), was established on April 1, 1965 during the resistance war against the US to save the country, with the purpose of producing medicine to serve cadres and soldiers in the war zones and people in liberated areas.
On October 30, 2006, the Enterprise held a General Meeting of Shareholders to establish Danapha Pharmaceutical Joint Stock Company, with a charter capital of 33.5 billion VND (the State owns 51%) and officially operated from January 1, 2007. To date, the enterprise's charter capital has increased to 209 billion VND.
As of June 30, 2024, Danapha's total assets reached VND 1,435 billion, an increase of VND 141 billion compared to the beginning of 2024, of which short-term revenues were more than VND 385.7 billion. Cash and cash equivalents were only VND 9 billion at the end of the quarter, a sharp decrease of about VND 50 billion compared to the beginning of the year.
Long-term assets accounted for nearly 64% of total assets, with a balance of VND917 billion at the end of the second quarter, an increase of VND174 billion compared to the beginning of the year. Of which, the majority were long-term unfinished assets with more than VND773 billion, mostly unfinished basic construction costs.
At the end of the second quarter, Danapha's total liabilities also increased by VND103 billion compared to the beginning of the year to VND687 billion. Of which, financial loans accounted for more than half of the total liabilities with a balance of VND376 billion, a slight increase compared to the beginning of the year.
Source: https://www.congluan.vn/danapha-dan-bao-lai-giam-manh-ngay-quy-dau-tien-sau-khi-doi-chu-post306249.html
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