Many businesses lost thousands of billions in the fourth quarter of 2022

Viettel Global Investment Joint Stock Corporation (Viettel Global - VGI) announced its consolidated financial report for the fourth quarter of 2022, recording a record net loss of VND 2,721 billion despite revenue reaching nearly VND 6,124 billion, up 43% and gross profit reaching VND 2,665 billion, up sharply 26.6% over the same period in 2021.

The reason why VGI suddenly suffered a large loss was due to increased costs, especially business management costs that suddenly increased to VND 3,853 billion, or 3.9 times higher than the same period due to a provision of more than VND 3,041 billion. However, thanks to high profits in the first quarters of 2022, Viettel Global still achieved a profit after tax of VND 1,549 billion for the whole year, much higher than the profit of VND 346.8 billion in 2021.

A series of businesses reported large losses in the fourth quarter of 2022

Another company that continues to report losses is Hoang Anh Gia Lai International Agriculture Joint Stock Company (HAGL Agrico - HNG). The company's net revenue in the fourth quarter of 2022 reached VND 152 billion, down more than half compared to the same period in 2021. After deducting expenses, HNG had a net loss of nearly VND 2,800 billion, of which net loss from business operations was more than VND 555 billion and loss due to recording costs of converting orchards was more than VND 2,127 billion, other losses were nearly VND 111 billion.

The reason, according to HNG, was due to the impact of storm Noru at the end of September 2022 and the labor shortage in Laos, leading to a 68% decrease in banana harvest output compared to the same period in the fourth quarter of 2021. In addition, the purchase price of fertilizers compared to the same period in the fourth quarter of 2021 increased by 35%, agricultural supplies and packaging increased by 18%; Transportation costs increased by 9% (from 2,198 USD/container to 2,390 USD/container) compared to the fourth quarter of 2021... Accumulated for the whole year of 2022, HNG recorded revenue of 742 billion VND and a loss of nearly 3,566 billion VND. Accordingly, the total accumulated loss by the end of 2022 increased to 6,993 billion VND, "consuming" more than half of the company's total equity.

Meanwhile, the financial report for the fourth quarter of 2022 of VNG Corporation (VNZ) showed that net revenue increased slightly by 6% compared to the same period in 2021 to VND 2,037 billion but still had a loss after tax of VND 547 billion. In 2022, VNG's net revenue reached VND 7,801 billion, an increase of 2% compared to 2021 and continued to have a record loss after tax of more than VND 1,315 billion.

Another unit that unexpectedly reported a large loss was Dabaco Vietnam Group Joint Stock Company (DBC) - a leading enterprise in the pig farming sector in Vietnam. Accordingly, in the fourth quarter of 2022, the company achieved revenue of nearly VND 2,930 billion, down 4.3% over the same period, but the cost of goods sold increased to VND 2,780 billion. Along with a series of other expenses, the company lost VND 79.14 billion, which is also Dabaco's record loss since its listing. Accumulated for the whole year of 2022, DBC achieved revenue of VND 12,269 billion, up 13.5%, but profit after tax was only VND 150.1 billion, down 81.9% compared to 2021.

Not to mention, a series of steel, real estate, and securities companies also reported large losses in the fourth quarter of 2022 such as Tan Tao, LDG Investment, SMC, PDR, Dat Xanh, Vnstell...

Source: https://thanhnien.vn/nhieu-doanh-nghiep-lo-ngan-ti-trong-quy-42022-185230202084950216.htm