According to the consolidated financial report of Vietnam Rubber Industry Group - Joint Stock Company (stock code GVR), revenue in the third quarter of 2024 reached nearly VND 7,716 billion, an increase of 25% compared to the same period last year.
The group's main source of revenue remains from rubber production and trading, totaling VND 6,170 billion, a 28% increase compared to the same period last year. The remainder comes from other sectors such as wood processing, real estate business, rubber product trading, and utilities.
Gross profit reached VND 1,596 billion, a 29% increase year-on-year. Consequently, the gross profit margin increased by 1 percentage point to nearly 21%. Financial and selling expenses both decreased compared to the previous year. Specifically, financial expenses decreased by 23% to VND 91 billion, while selling expenses decreased by 6% to VND 150 billion. Conversely, administrative expenses increased by 13% to VND 511 billion.
Financial revenue decreased by 20% year-on-year, from VND 284 billion to VND 226 billion. However, the company had other income sources of approximately VND 324 billion, compared to just over VND 184 billion in the same period last year.
As a result, after deducting expenses, the company reported a pre-tax profit of VND 1,306 billion and an after- tax profit of VND 1,121 billion, both double that of the same period last year. This is also the highest quarterly profit this year.
In a written explanation submitted to the Ho Chi Minh City Stock Exchange, Mr. Le Thanh Hung, General Director of the Vietnam Rubber Industry Group, stated that the improved business results in the third quarter were due to higher rubber latex prices compared to the same period last year, leading to increased profits in this segment. In addition, profits from joint ventures also increased, along with income from land compensation and land return to local authorities, contributing to the overall profit increase.
For the first nine months of the year, the group achieved net revenue of VND 16,954 billion, a 17% increase compared to the same period last year. Gross profit during this period exceeded VND 3,832 billion, with a gross profit margin of 23%.
Profits before and after tax were recorded at VND 3,209 billion, up 31%, and VND 2,705 billion, up 38%, respectively, compared to the same period last year.
According to the plan approved at the extraordinary meeting at the end of March, the group aims to achieve revenue and income of VND 24,999 billion this year. Pre-tax profit is VND 4,104 billion and after- tax profit is VND 3,437 billion. After the first three quarters, GVR has completed 68% of its revenue target. Meanwhile, both pre-tax and after-tax profits have exceeded 78%.
In 2025, GVR aims for consolidated total revenue of VND 28,575 billion and consolidated pre-tax profit of VND 5,051 billion. For the period 2021-2025, the estimated consolidated total revenue is VND 135,000 billion, and the estimated consolidated pre-tax profit for the period is VND 25,075 billion.
The company's total assets at the end of the third quarter were approximately VND 78,181 billion, a slight increase compared to the beginning of the year. Cash and cash equivalents accounted for over VND 5,861 billion in the company's asset structure. Liabilities decreased by VND 2,317 billion compared to the beginning of the period, down to VND 20,768 billion. Equity was nearly VND 57,413 billion, and accumulated profit was approximately VND 6,976 billion.
Within one month, the share price of GVR on the HoSE exchange has fallen by 11%, to 32,200 VND. Trading volume in the last 10 sessions has consistently exceeded 1.3 million units. With 4 billion shares listed, the market capitalization has reached 128,800 billion VND.
Source: https://baodautu.vn/tap-doan-cong-nghiep-cao-su-viet-nam-lai-gan-1121-ty-dong-d228961.html
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