Increased FDI helps industrial park leasing businesses make big profits

According to the Foreign Investment Agency, the total foreign investment capital registered in Vietnam in the first 6 months of the year reached nearly 15.2 billion USD, an increase of 13.1% over the same period in 2023. New FDI capital flows into Vietnam continue to grow, leading to high demand for industrial land lease, helping many industrial real estate businesses "do well".

Accordingly, Vietnam Rubber Industry Group - JSC (HOSE: GVR) recorded net revenue in the second quarter of 2024 of VND 4,622 billion, up 8.2% over the same period last year. After deducting cost of goods sold, the company's gross profit reached VND 1,172 billion, up 21% over the same period last year. Gross profit margin this period reached 38%, compared to 22.6% in the same period last year.

During the period, the company's financial expenses decreased sharply by 26%, down to VND115 billion, sales expenses also decreased by 6%, down to VND103 billion, and business management expenses increased slightly by 4.2%, up to VND414 billion. As a result, GVR reported a profit after tax in the second quarter of VND994 billion, a sharp increase of 38.6% over the same period last year.

In the first 6 months of the year, the Group's consolidated revenue reached VND9,213 billion, consolidated profit after tax reached VND1,644 billion, up nearly 11% and 12.6% respectively over the same period last year.

Similarly, Sonadezi Chau Duc Joint Stock Company (Code: SZC) recorded net revenue in the second quarter of 2024 of VND 262 billion, down 9% year-on-year. However, due to a sharp decrease in cost of goods sold, after deduction, the company's gross profit reached nearly VND 150 billion, up 9%. Gross profit margin thereby increased from 48% to 57%, the highest level since the first quarter of 2022.

In addition, interest expenses also decreased by 28%, to nearly VND9 billion. However, business management expenses increased by 80% to nearly VND14 billion. As a result, Sonadezi Chau Duc reported a profit after tax in the second quarter of VND102 billion, up 6.3% over the same period last year.

In the first half of 2024, Sonadezi Chau Duc had a revenue of more than 476 billion VND and a profit after tax of 167 billion VND, up 36% and 55% respectively over the same period last year. Thus, compared to the whole year's business target, SZC has achieved 54% of the revenue plan and 73% of the profit target.

For Sonadezi Long Thanh Joint Stock Company (Code: SZL), in the second quarter of 2024, the company's net revenue reached 125 billion VND, an increase of 16.8% over the same period last year. Of which, revenue from leasing factories in Long Thanh Industrial Park accounted for the highest proportion at 37%, equivalent to 47.6 billion VND, an increase of 23.6% over the same period.

After deducting expenses, the company's gross profit in the second quarter of 2024 was VND39.2 billion, up 18% over the same period. Profit after tax was VND34.6 billion, up 54% over the second quarter of 2023.

In the first 6 months of 2024, the company's revenue was VND 240 billion, up 14% over the same period last year. Profit after tax reached VND 57 billion, up about 26% over the same period. With the above results, SZL has achieved 56% and 68% of the revenue and profit targets for the year, respectively.

Tin Nghia Industrial Park Joint Stock Company (Code: TIP) also recorded positive results with net revenue reaching 40.7 billion VND, up 7% over the same period last year. This increase came from revenue from providing services at Tam Phuoc Industrial Park ( Dong Nai ).

In addition, the company's financial revenue also skyrocketed to VND67 billion in the second quarter of 2024, while it only reached VND5 billion in the same period last year. This revenue comes from cooperation with Phuoc An Port Investment and Exploitation Petroleum Joint Stock Company. After deducting expenses, TIP's after-tax profit reached VND68 billion, 5 times higher than the same period last year.

In the first 6 months of the year, the company's net revenue reached 79 billion VND, up 14% over the same period last year. Profit after tax reached 96 billion VND, up 3.7 times over the previous year. With this result, the company has achieved 48% of the revenue target and 57% of the profit target.

Long Hau Joint Stock Company (Code: LHG) also achieved impressive results with net revenue of VND 162 billion, nearly 2.5 times higher than the same period last year. Gross profit was nearly 3 times higher than in the second quarter of 2023, reaching VND 94 billion, helping the gross profit margin increase from 51% to 58%.

In the revenue structure, industrial park land leasing accounts for more than 50.8% of Long Hau's total revenue in the second quarter of 2024, while this item was not recorded in the same period. At the end of the second quarter, Long Hau reported a profit of 67.8 billion VND, 2.3 times higher than the same period last year. This is also the highest profit in the past 6 quarters of this enterprise.

In the first 6 months of the year, Long Hau's revenue reached 134 billion VND and after-tax profit reached 99 billion VND, up 45% and 31% respectively over the same period last year. Accordingly, Long Hau has completed 36% of the revenue plan and 76% of the yearly profit plan.

Source: https://laodong.vn/kinh-doanh/fdi-tang-giup-doanh-nghiep-cho-thue-khu-cong-nghiep-lai-dam-1379077.ldo