In the first quarter of 2025, Nam Tan Uyen recorded revenue of VND 134.1 billion, an increase of 136.5% over the same period, and profit after tax of VND 69 billion, an increase of 5.8% over the same period last year. In particular, gross profit margin decreased sharply from 74.1% to 54.5%.
During the period, Nam Tan Uyen's gross profit increased by 73.8% over the same period, equivalent to an increase of VND 31.02 billion to VND 73.03 billion; financial revenue decreased by 48.9%, equivalent to a decrease of VND 21.39 billion to VND 22.35 billion; financial expenses increased by 135.4%, equivalent to an increase of VND 3.67 billion to VND 6.38 billion; sales and business management expenses increased by 24.2%, equivalent to an increase of VND 1.16 billion to VND 5.95 billion and other activities fluctuated insignificantly.
Thus, although gross profit in the first quarter of 2025 increased, net profit only increased by 5.8%, due to a shortfall in financial revenue and pressure from increased financial, sales and business management costs.
It is known that from 2020 to 2024, Nam Tan Uyen showed signs of slowing down when profits fluctuated from 256 billion VND to 300 billion VND/year, profits stagnated due to lack of new additional projects.
According to An Binh Securities, currently the two Nam Tan Uyen 1 and 2 industrial park projects have recorded a 100% occupancy rate, the enterprise accounts for revenue using the annual allocation method with total unrealized revenue of nearly 3,000 billion VND and each year will record about 250 billion VND in revenue and 180 billion VND in gross profit.
In addition, Nam Tan Uyen is implementing a new project, the Nam Tan Uyen Industrial Park Expansion Project - Phase 2, which is expected to be a new growth driver in the coming time.
In terms of asset size, as of March 31, 2025, Nam Tan Uyen's total assets decreased slightly by VND 3.6 billion, to VND 7,353.1 billion. Of which, other long-term assets recorded VND 4,498.2 billion, accounting for 61.2% of total assets; cash and short-term financial investments recorded VND 1,779.5 billion, accounting for 24.2% of total assets and other items.
In addition to the new project, Nam Tan Uyen said that the construction cost in progress is 31.5 billion VND for the Nam Tan Uyen Industrial Park expansion project - phase 2, this is a project with a scale of 345.86 hectares in Binh Duong province, with an investment capital of 871.95 billion VND. In which, the project has carried out the initial steps of consulting, surveying and designing, implementing compensation and site clearance and has been allocated land for the first phase of 344.3 hectares. The company is carrying out leveling, starting construction and handing over to some customers.
In addition, in terms of capital, as of the end of the first quarter of 2025, Nam Tan Uyen's total short-term and long-term debt decreased slightly by 7.6% compared to the beginning of the year, equivalent to a decrease of VND 202.7 billion to VND 2,465 billion and equal to 208.9% of equity. Of which, short-term debt was VND 2,327 billion and long-term debt was VND 138 billion.
Notably, Nam Tan Uyen currently owns up to 3,123.3 billion VND of long-term unrealized revenue, equal to 42.5% of total capital. In which, the Company mainly explains that the revenue is received in advance for land rental and industrial park infrastructure.
In addition, it is worth noting that Nam Tan Uyen has just approved an extension of the 2025 Annual General Meeting of Shareholders to June. The closing date for the list of shareholders attending the meeting is May 16 and the expected date of organization is June 26.
Regarding stock movements, recently, industrial park real estate stocks have become the focus of strong selling in the market when from April 2 to April 18, NTC shares decreased by 36.6% from VND 227,000 to VND 143,900/share and continued the downward trend.
Source: https://baodautu.vn/lai-quy-dau-nam-2025-cua-nam-tan-uyen-tang-58-len-69-ty-dong-d270802.html
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