Deo Ca Infrastructure Investment Joint Stock Company (stock code HHV) announced that it will hold its 2024 annual general meeting of shareholders in May 2024 at the Deo Ca Practical Training Center (Lien Chieu district, Da Nang city).
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| HHV is currently one of the leading transportation infrastructure construction companies in Vietnam. |
Accordingly, at the upcoming annual general meeting, HHV will present and seek shareholder approval for the 2023 production and business results and the 2024 plan; present and approve the contents of the additional share offering in 2023; profit distribution, dividend payment for 2023 and the profit distribution plan for 2024, along with many other important contents.
According to information released by HHV, in 2023, consolidated revenue reached VND 2,685 billion (a 28% increase compared to the same period), and after-tax profit reached VND 364 billion (a 23% increase compared to the same period).
In 2023, HHV successfully issued shares to increase its charter capital to over VND 4.116 billion. Regarding dividend payments, HHV representatives stated that, if the plan is approved by the general shareholders' meeting, the company will pay dividends in shares to existing shareholders at a rate of 5%.
Regarding business plans, HHV representatives stated that 2024 will continue to be a year of accelerated construction of key national transportation projects, with 422,000 billion VND invested in transportation infrastructure projects, equivalent to 62.3% of the total public investment plan. As a company with specialized capabilities in management and operation, and participating as a general contractor in large-scale projects, HHV has an advantage in the public investment sector. HHV aims for a 17% increase in revenue and an 11% increase in profit in 2024 compared to 2023, with a 26% increase in the construction segment alone.
Right from the first quarter of 2024, HHV's production and business results recorded positive indicators. Specifically, revenue in the first quarter of 2024 is estimated at VND 674 billion, an increase of 25% compared to the same period last year. After-tax profit is estimated at VND 109 billion, a growth of 32% compared to the first quarter of 2023.
By 2025, HHV is expected to invest in nearly 400 km of expressways, specifically the Dong Dang - Tra Linh (Cao Bang), Huu Nghi - Chi Lang (Lang Son), Tan Phu - Bao Loc (Lam Dong), Ho Chi Minh City - Chon Thanh, Ring Road 4 section through Binh Duong province, Ho Chi Minh City - Trung Luong - My Thuan expressway (phase 2), etc., with a total investment of nearly 100,000 billion VND.
All projects are progressing according to schedule. The Dong Dang - Tra Linh expressway, with a total investment of over 14,300 billion VND, commenced construction on January 1, 2024. Next is the Huu Nghi - Chi Lang expressway (connecting to the Dong Dang - Tra Linh expressway), with a total investment of over 11,300 billion VND, which commenced construction on April 21, 2024. In these projects, the state budget contributes between 50% and 70% of the total investment.
In these projects, HHV participates as a direct investor or a business partner (BCC). HHV's estimated construction value alone is approximately VND 5,700 billion.
As of December 31, 2023, HHV's outstanding contracted work amounted to approximately VND 2,000 billion, mainly from the Quang Ngai - Hoai Nhon Expressway Project and the Binh Dinh Coastal Road Project. In 2024, HHV will begin implementing the Dong Dang - Tra Linh Expressway Project and the Huu Nghi - Chi Lang Expressway Project, increasing the outstanding contracted work of HHV to approximately VND 3,500 billion.
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