Golden Gate Group has just announced the documents for the 2025 annual general meeting of shareholders.
The company said 2024 will be a challenging year due to macroeconomic fluctuations that cause consumers to tighten their spending. Demand for dining, gatherings, and entertainment will decrease significantly, affecting the profit structure.
Total net revenue in 2024 reached VND 6,634 billion, an increase of 5.5% compared to 2023. However, profit after tax decreased from VND 139 billion to VND 100 billion, equivalent to a decrease of 27.7%, not reaching the set plan when net revenue only reached 93.9% and profit after tax only reached 62% of the plan.
However, in 2025, this F&B tycoon set a net revenue target of VND8,123.6 billion, an increase of 22.5% compared to 2024. After-tax profit is expected to reach VND205 billion, more than double the same period and the highest level in 3 years if completed.
Golden Gate's business plan for 2025 (Photo: Shareholders' Meeting).
However, the planned profit figure for 2025 is still quite far from the period before the Covid-19 pandemic, especially significantly lower than the net profit of VND 659 billion recorded in 2022.
In 2025, the company plans to focus on consolidating core operational capabilities to lay the foundation for the next stage of development. To ensure financial resources, Golden Gate will continue not to pay dividends. This is the third consecutive year that the company has retained all profits for reinvestment.
In February, the company completed the acquisition of The Coffee House chain from Seedcom. The coffee brand, which had grown rapidly, now has just under 100 outlets, mainly in major cities.
As of January 8, the company has completed the purchase of 99.98% of shares with a total estimated transaction value of approximately VND270 billion. Mr. Tran Viet Trung, Chairman of the Board of Directors of Golden Gate, is currently holding the position of General Director and Legal Representative at The Coffee House, replacing Mr. Ngo Nguyen Kha. Before the transaction, The Coffee House's charter capital was increased from approximately VND150 billion to VND408 billion.
In addition to acquiring The Coffee House, Golden Gate also launched many new brands such as Pho Inn and Universal Coffee. The company is maintaining about 500 locations in its restaurant network.
Source: https://dantri.com.vn/kinh-doanh/trum-lau-nuong-golden-gate-lo-tham-vong-moi-sau-khi-mua-the-coffee-house-20250615081039013.htm
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