Vingroup's historical milestone; PAN's first time; YeaH1 "overcomes difficulties" successfully

Vingroup records historic revenue milestone; New milestone of Tien Phong Plastics; Vinamilk reaches new revenue milestone; Hoa Phat exceeds profit plan despite unfavorable fourth quarter; YeaH1 successfully "overcomes difficulties"; PAN Group reaches revenue milestone of 16,000 billion VND for the first time

Vingroup 's historical milestone; PAN's first time; YeaH1 "overcomes difficulties" successfully

Vingroup records historic revenue milestone; New milestone of Tien Phong Plastics; Vinamilk reaches new revenue milestone; Hoa Phat exceeds profit plan despite unfavorable fourth quarter; YeaH1 successfully "overcomes difficulties"; PAN Group reaches revenue milestone of 16,000 billion VND for the first time

Vingroup records historic revenue milestone

Vingroup Corporation announced its 2024 Financial Report with pre-tax profit of VND 16,724 billion and after-tax profit of VND 5,251 billion, up 22% and 155% respectively compared to 2023, exceeding the annual plan.

By the end of 2024, Vingroup's total assets will reach VND 839,216 billion.

Total consolidated net revenue for the whole year of 2024 reached VND 192,159 billion, an increase of 19% over the previous year and is the historical revenue of the Group.

The reason was determined to be the strong handover speed of real estate in major projects, especially Vinhomes Royal Island, along with the outstanding growth of the electric vehicle segment.

As of December 31, 2024, Vingroup's total assets reached VND 839,216 billion, an increase of nearly 26% compared to the beginning of the year.

Regarding technology and industrial activities, 2024 marks an important milestone for VinFast when it officially rises to the No. 1 position in the Vietnamese automobile market with nearly 88,000 vehicles delivered.

Also in 2024, VinFast completed its distribution model in domestic and international markets, continued to promote business activities in North American and European markets, and officially launched in potential markets in Asia such as the Philippines, Indonesia, and the Middle East market.

In commercial services, Vinhomes was honored as “Best Residential Real Estate Developer in Vietnam 2024” by Euromoney Global Finance Magazine and “Vietnam National Brand”.

In 2024, with the main driving force from the handover of products in major urban areas, especially Vinhomes Royal Island, Vinhomes recorded total consolidated net revenue (including revenue from Vinhomes's operations, business cooperation contracts and real estate transfers recorded in financial income) reaching VND 141,812 billion, an increase of 13% compared to 2023. At the same time, the Company's consolidated profit after tax in 2024 completed the set annual plan, reaching VND 35,052 billion, an increase of 5% compared to the previous year.

Vinamilk reaches new revenue milestone

By the end of 2024, the "giant" of the Vietnamese dairy industry accelerated with revenue reaching a new record of nearly 61.8 trillion VND.

The consolidated financial report for the fourth quarter of 2024 of Vietnam Dairy Products Joint Stock Company (Vinamilk) shows that consolidated revenue in the fourth quarter reached approximately the same period last year, at nearly VND 15.5 trillion. Gross profit reached more than VND 6.2 trillion, gross profit margin reached 40.1%, compared to 41.2% in the same period last year.

Vinamilk reaches record revenue of nearly 61.8 trillion VND in 2024

Financial revenue was nearly VND395 billion, financial expenses showed that interest rates decreased by more than 30% to about VND66 billion. In addition, the Company received profits from associated companies and joint ventures of more than VND23 billion, in the same period a loss of VND28 billion.

Selling expenses in the period decreased by more than 4%, to about 3.35 trillion VND. Vinamilk's net profit reached more than 2.1 trillion VND in the fourth quarter of 2024.

For the whole year, Vinamilk reached a record revenue of nearly 61.8 trillion VND, an increase of nearly 3% over the previous year.

In 2024, foreign net revenue will reach nearly VND11 trillion, up 12.6%. Growth momentum will come not only from traditional markets but also from high-end markets such as Taiwan, Korea, Japan, Canada, and the US. Some markets will record double- to triple-digit revenue growth over the same period.

In addition to exports, in the last 3 months of 2024 alone, the growth momentum of the foreign market came from 2 subsidiaries, Angkor Milk (Cambodia) and Driftwood (USA). Angkor Milk achieved growth of more than 20% thanks to promoting marketing and introducing new products. Meanwhile, Driftwood's revenue in the US grew by more than 10%. Accumulated for the whole year of 2024, net revenue of foreign branches reached more than 5.3 trillion VND, up 12.9% over the same period.

Gross profit for the year reached nearly VND25.6 trillion, up more than 4% and the highest in the past 3 years. Gross profit margin reached 41.4%, up from 40.7% the previous year. Selling expenses accounted for nearly VND13.4 trillion, equivalent to 52% of gross profit. Profit after tax was nearly VND9.5 trillion, slightly exceeding the annual plan.

The dairy giant's net profit for the whole year reached nearly 9.4 trillion VND, up 5.8% and also the highest profit in the past 3 years.

New milestone of Tien Phong Plastic

2024 marks a new historical milestone for Tien Phong Plastic Joint Stock Company's profits.

Tien Phong Plastic's total assets by the end of 2024 will reach more than 6,400 billion VND.

The fourth quarter of 2024 contributed greatly to the overall profit picture of the plastics business for the year with revenue of more than VND 1,800 billion, a sharp increase of 35% over the same period and the highest level ever. Net profit was VND 216 billion, an increase of 32% and only a short distance from the peak of VND 238 billion set in the second quarter not long before.

According to the Company, the positive results came from a sharp increase in sales revenue in the last quarter of the year, a decrease in PVC resin raw material prices, and the Company making good use of idle funds to increase financial profits.

The plastic enterprise closed 2024 with a new milestone of after-tax profit reaching 736 billion VND, up 32%, far exceeding the plan set at the beginning of the year. Revenue reached more than 5,600 billion VND, approaching the historical high of 2 years ago. Thieu Nien Tien Phong Plastic's net profit has continuously increased since 2018 and set a record for 2 consecutive years 2023 and 2024.

The business year exceeded expectations, helping Tien Phong Plastic record highly liquid assets such as cash, investments held to maturity... reaching more than 3,000 billion VND, double the beginning of the year, partly thanks to significant collection of receivables and advance payment from buyers. Total assets at the end of 2024 reached more than 6,400 billion VND, an increase of about 1,000 billion VND.

Hoa Phat exceeds profit plan despite unfavorable fourth quarter

Hoa Phat Group saw a slight decrease in profit in the fourth quarter of 2024, but still exceeded the profit plan for 2024.

Hoa Phat has expanded its market to nearly 40 countries and territories.

In the fourth quarter of 2024, the “steel king” recorded revenue of VND35,232 billion, a slight increase of 1% over the same period last year. Meanwhile, profit after tax reached VND2,809 billion, a decrease of 5% compared to the fourth quarter of 2023.

In 2024, Hoa Phat achieved revenue of VND 140,560 billion, up 17% over the previous year and fulfilling the set plan. Profit after tax reached VND 12,020 billion, up 77% over 2023 and exceeding the annual plan by 20%.

Hoa Phat's production activities also marked a big step forward in 2024 when crude steel output reached 8.7 million tons, up 30% over the previous year. Total sales of steel products reached 8.1 million tons, up 20%.

In the domestic market, Hoa Phat continues to hold the No. 1 position in long steel with a market share of 37.6% and steel pipes with 27.7%, and is in the Top 5 in galvanized steel with a market share of 8.2%.

Regarding exports, Hoa Phat has expanded its market to nearly 40 countries and territories, contributing 31% of total revenue in 2024.

Regarding the development plan, the Hoa Phat Dung Quat 2 Iron and Steel Complex project is being implemented on schedule. Phase 1 will be operational in 2025, phase 2 is expected to be completed in late 2025, early 2026.

YeaH1 "overcomes difficulties" successfully

The resounding success of the reality show "Anh trai vu ngan cong gai" brought Yeah1 Group Corporation's 2024 profit to soar, far exceeding the plan in both scenarios.

"The big brother overcomes thousands of obstacles" to make Yeah1 Group Corporation's 2024 profit fly far

According to YEG, in the final period of 2024, the Group's business segments achieved efficiency, with the largest contribution coming from multi-platform advertising activities, sponsored brands, popular entertainment programs and events, leading to strong growth in both revenue and profit in the fourth quarter of 2024.

Specifically, YEG achieved nearly VND 378 billion in net revenue and VND 71 billion in net profit in the fourth quarter of 2024, respectively 2.4 times and 5 times higher than the same period last year.

Accumulated for the whole year of 2024, YeaH's net revenue exceeded 1 trillion VND (2.5 times higher than the previous year) along with profit from financial activities (mainly profit from divestment of subsidiaries) 7.1 times higher than in 2023, up to nearly 143 billion VND. Thanks to that, YeaH1 earned a net profit of nearly 127 billion VND, 4.8 times higher than in 2023. This is also the highest net profit in the past 6 years of YEG (since 2019).

In 2024, YEG has developed two business scenarios. If conditions are favorable, the Company expects revenue of VND 1,100 billion and profit after tax of VND 105 billion, respectively 3.5 times and nearly 4 times higher than in 2023. In average conditions, revenue and profit after tax will both be 2.5 times higher than in 2023, expected to reach VND 800 billion and VND 65 billion.

Compared to the plan, YEG exceeded 21% of the profit target in the favorable scenario and 95% of the profit target in the average condition.

By the end of 2024, YEG's total assets reached more than VND 2,492 billion, an increase of 34% compared to the beginning of the year. Of which, short-term receivables increased by 53% to more than VND 1,290 billion (mainly due to short-term prepayments to sellers being 4.3 times higher than the beginning of the year).

PAN Group reaches revenue milestone of 16,000 billion VND for the first time

2024 is the first year that PAN Group Corporation's consolidated revenue exceeds VND 16,000 billion and after-tax profit exceeds VND 1,000 billion.

PAN Group recorded growth in all three main business segments, of which the seafood segment had the highest growth.

PAN Group set a new record in 2024, with net revenue reaching VND 16,184 billion and profit after tax of VND 1,148 billion, up 23% and 40% respectively compared to 2023. Net profit also reached a record high of VND 594 billion, up 46% and exceeding the annual profit target by 33%.

The positive results were contributed by growth in all three main business segments. Of which, the seafood segment had the highest growth, reaching nearly VND 7,500 billion in revenue (accounting for 46% of total revenue) and pre-tax profit of VND 513 billion, up 33% and 37% respectively compared to the previous year. The packaged food segment grew 18% in revenue and 36% in pre-tax profit; the agricultural segment grew 13% in revenue and 21% in pre-tax profit.

In the fourth quarter of 2024 alone, PAN's net revenue reached VND4,267 billion, a slight increase of 2% over the same period last year. Net profit recorded VND231 billion, an increase of 13% and the highest quarterly profit ever for the enterprise.

On the balance sheet, PAN's total assets by the end of 2024 reached VND 23,853 billion, an increase of 18% compared to the beginning of the year. Of which, the Company holds nearly VND 3,000 billion in bank deposits and nearly VND 9,900 billion in trading securities (deposit certificates). Last year, PAN's deposit and loan interest reached VND 432 billion.

Total outstanding loans reached VND11,700 billion, up 30% compared to the beginning of the year, mostly short-term loans, accounting for nearly half of capital and 1.3 times higher than equity.

Source: https://baodautu.vn/moc-lich-su-cua-vingroup-lan-dau-tien-cua-pan-yeah1-vuot-chong-gai-thanh-cong-d242802.html