HSV Group, the exclusive distributor of The Face Shop cosmetics and Reebok shoes, had revenue of VND384 billion last year, an average of more than VND1 billion per day.
According to a new announcement sent to the Hanoi Stock Exchange (HNX), Hoan Vu General Trading and Service Joint Stock Company (HSV Group) said it achieved revenue of more than VND384.2 billion, an average of more than VND1 billion per day. After deducting cost of goods sold, the company's gross profit was about VND180 billion.
Gross profit margin reached over 47%. This figure is 3 times higher than the average gross profit margin of the entire retail industry in 2022, about 13.5% (according to VNDirect statistics).
After deducting selling and administrative expenses, HSV Group had an EBITDA of nearly VND12 billion. The company did not meet its revenue target but far exceeded the loss scenario of more than VND16 billion set for 2022.
This year, HSV Group aims to have more than 658 billion VND in revenue and nearly 20 billion VND in EBITDA. These two indicators increase by 71% and 64% respectively compared to last year.
With the above plan, the company needs a stable source of money to support its business operations. Therefore, HSV proposed that bondholders continue to hold bonds and increase the interest rate by 2% per year, to 14% per year from July. This is one of the highest interest rates in the market, equivalent to real estate companies. The company said that the increased interest rate will help bondholders offset the cooling bank interest rates.
The above bond lot was issued from July 2022 with an initial value of VND 38.2 billion and matured in July 2024. After being bought back by HSV, this lot only has about VND 5.1 billion in circulation with two bondholders.
A customer is choosing The Face Shop cosmetics at a Beauty Box point of sale. Photo: HSV Group
Hoan Vu General Trading and Service Joint Stock Company is one of the cosmetics retailers with the largest number of stores in the market, established in 2004. Initially, the company was the exclusive distributor for The Face Shop - a manufacturer and retailer of skin care and cosmetics products belonging to LG Group (Korea).
In the period of 2016-2017, HSV Group expanded its exclusive distribution of the Reebok sportswear brand and non-exclusive distribution of Adidas. A year later, the company opened a chain of Beauty Box stores with a shopping model combining expert advice and makeup testing. To date, HSV is operating 26 The Face Shop stores, 14 Beauty Box stores and 12 Reebok stores.
In July 2021, Mekong Capital announced the completion of its investment in HSV Group, the value of the deal was not disclosed. The investment will be used to expand its store network and diversify its retail brands. This year, HSV plans to open 10 new stores in its ecosystem.
Siddhartha
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