Forecasting difficulties, many businesses reduce revenue and profit targets

Quang Ngai Sugar Joint Stock Company (QNS) has just announced the Resolution approving the 2023 production and business plan. QNS estimates its 2022 business results with consolidated revenue of VND 8,300 billion and after-tax profit of VND 1,198 billion, up 13% and down 4% respectively compared to 2021. According to the estimated results, QNS exceeded the revenue plan by 4% and exceeded the after-tax profit plan by 19% in 2022. However, in the new year, the company set a target of consolidated revenue of VND 8,400 billion and after-tax profit of VND 1,008 billion. Thus, the 2023 revenue plan increased slightly by 1.2% but the profit plan decreased by 16% compared to the estimated results in 2022.

Some businesses postpone their business plans in 2023

Ngoc Thang

Similarly, another company, Dabaco Vietnam Group Joint Stock Company (DBC), also plans to see a sharp decrease in profits in the new year. Specifically, Dabaco Vietnam plans to do business in 2023 with total revenue of VND 24,562 billion and after-tax profit of VND 569 billion. Thus, compared to the 2022 plan with revenue of VND 22,558 billion and after-tax profit of VND 918 billion, in this new year, the company's revenue will increase by 8.9% but after-tax profit will decrease by 38%. The reason may stem from the company's sharp decline in profits in 2022. Dabaco Vietnam's Q3/2022 report recorded that in the first 9 months of 2022, cumulative revenue reached VND 9,339.14 billion, up 20.5% over the same period and after-tax profit reached VND 229.24 billion, down 68.1% over the same period last year. Considering the 2022 full-year plan, after 9 months the company completed 25% of the profit plan and is far from the yearly plan.

Meanwhile, the Board of Directors of Hai An Transport and Stevedoring Joint Stock Company (HAH) announced its estimated business results for 2022 with total revenue reaching VND 3,145 billion, exceeding the plan by 32% and consolidated profit after tax of the parent company reaching VND 835 billion, exceeding the plan by 52%. However, entering 2023, the company also set a business target to decrease compared to 2022. Specifically, total revenue decreased by 16% to VND 2,631 billion, consolidated profit after tax of the parent company decreased by 64% to VND 300 billion.

A steel company, Thong Nhat Sheet Steel Joint Stock Company (TNS), also announced its 2023 business plan to strive for no losses. It is estimated that for the whole year, TNS made a profit of 369 million VND, only completing about 10% of the year's plan...

Source: https://thanhnien.vn/du-bao-kho-khan-nhieu-doanh-nghiep-giam-chi-tieu-doanh-thu-loi-nhuan-1851536171.htm