Hoa Binh Construction Group returns to profit after two years of losses; ACV achieves highest profit in history; Vietjet collaborates with OpenAirlines; Masan Consumer aims for double-digit revenue growth; Electronics distributor giant records highest Q4 profit.
Hoa Binh Construction Group made a profit; ACV made a substantial profit; Vietjet collaborated with OpenAirlines.
Hoa Binh Construction Group returns to profit after two years of losses; ACV achieves highest profit in history; Vietjet collaborates with OpenAirlines; Masan Consumer aims for double-digit revenue growth; Electronics distributor giant records highest Q4 profit.
Hoa Binh Construction has become profitable after two years of losses.
After two consecutive years of losses exceeding 3,600 billion VND, Hoa Binh Construction Group Joint Stock Company closed 2024 with more positive results, reporting a profit of 849 billion VND, thereby reducing accumulated losses to just over 2,400 billion VND.
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| For the whole year of 2024, HBC generated revenue of over 6,374 billion VND. |
In the fourth quarter of 2024, Hoa Binh recorded consolidated net revenue of over VND 1,587 billion, a decrease of 28% compared to the same period; the cost of goods sold decreased even more significantly, so after deductions, the company recorded a gross profit of over VND 136 billion, 2.5 times higher than the same period.
Financial revenue reached nearly 49 billion VND, 2.4 times higher, due to profits from the sale of investments totaling nearly 42 billion VND, a figure not recorded in the same period last year.
Other income reached nearly 44 billion VND, compared to a loss of nearly 3 billion VND in the same period last year. This was thanks to revenue from the liquidation and sale of fixed assets exceeding 37 billion VND, nearly 18 times higher than the same period last year. Ultimately, HBC's net profit decreased by 88% compared to the same period last year, falling to just over 12 billion VND.
For the whole year of 2024, HBC generated revenue of over VND 6,374 billion, a decrease of 15%; while net profit was VND 849 billion. Compared to the planned after-tax profit of VND 433 billion in 2024, Hoa Binh exceeded the target by 97%.
With positive results after two consecutive years of losses exceeding 3,600 billion VND, by the end of 2024, Hoa Binh reduced its accumulated losses to nearly 2,412 billion VND.
Total assets decreased slightly compared to the beginning of the year to nearly VND 15,235 billion; of which, short-term receivables accounted for the majority, up to 70%, at over VND 10,720 billion, an increase of 1%. Inventory was nearly VND 1,577 billion, a decrease of 31%.
ACV achieves its highest profit in history.
Airports Corporation of Vietnam (ACV) has just announced impressive business results for 2024, with the highest profit in its history.
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| In 2024, ACV recorded a net profit exceeding VND 11,560 billion. |
According to the Q4/2024 financial report, the company recorded net revenue of over VND 5,700 billion and net profit of VND 3,085 billion, representing impressive growth of 14% and 111% respectively compared to the same period in 2023.
The breakthrough business results in the final quarter of the year were supported by three main factors.
Firstly, there has been a strong recovery in the international aviation market.
Secondly, the reversal of provisions for bad debts significantly reduced business management expenses from VND 1,395 billion to VND 192 billion.
Ultimately, the weakening of the Japanese Yen against the Vietnamese Dong resulted in a significant exchange rate gain of over 650 billion VND.
Looking back at the whole year of 2024, ACV set many memorable milestones with net revenue reaching VND 22,555 billion and net profit exceeding VND 11,560 billion, growing by 13% and 37% respectively compared to 2023. This is also the highest profit level in ACV's operating history.
With these results, the airport giant exceeded its revenue target by 11% and its pre-tax profit target by 53%.
ACV currently plays a key role in Vietnam's civil aviation industry by managing and operating 22 airports nationwide, including 9 international airports and 13 domestic airports such as Tan Son Nhat, Noi Bai, and Da Nang.
This company is also acting as the investor for the Long Thanh International Airport project – a key national infrastructure project with a total investment of approximately $4.6 billion in phase 1. This project is receiving special attention and support from the Government.
Masan Consumer aims for double-digit revenue growth.
Masan Consumer Corporation (Masan Consumer) achieved revenue of over VND 8.9 trillion and nearly VND 30.9 trillion in the fourth quarter and the whole year of 2024, respectively, with net profits of over VND 2.3 trillion and VND 7.8 trillion. In 2025, the company aims for double-digit revenue growth of 10-15%, reaching VND 33.5-35.5 trillion.
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| By 2025, the company aims for double-digit revenue growth of 10-15%, reaching VND 33.5-35.5 trillion. |
This is driven by strategic growth drivers and the development of the “Retail Supreme” digital supply chain.
According to the company, these innovations will help digitize traditional retail, supply and demand planning, production, and distribution, thereby improving supply chain planning, increasing sales staff productivity, and optimizing marketing ROI.
The company stated it will implement a premiumization strategy in the condiment and convenience food industry, strengthening its market leadership in the premium segment by shifting from instant noodles to ready-to-eat meals such as self-heating hot pot, self-cooking rice, and portable hot pot. These innovations in the convenience food industry help capture growth in out-of-home consumption trends.
In addition, the company implemented innovations in the beverage and personal care/household cosmetics (HPC) sectors, expanding the WakeUp247 portfolio and gaining market share in the ready-to-drink tea (RTD) segment with new Tea365 products; restructuring the portfolio to focus on developing new products under the Chante and Net categories, and engaging more deeply in the personal care market.
The Go Global strategy aims to achieve growth of 20% or more by focusing on key markets such as the US, South Korea, Japan, and the EU with a product portfolio of spices, convenience foods, and instant coffee.
Anticipating a strong recovery in consumer trends in 2025, the company has decided to postpone the launch of its new products to 2025.
Electronics distributor giant records highest fourth-quarter profits.
Digiworld Corporation (Digiworld) has just announced its consolidated financial statements for the fourth quarter of 2024, with net revenue of nearly VND 5.86 trillion, an increase of 21% compared to the same period last year.
Despite a sharp increase in financial costs from nearly VND 28 billion in Q4 2023 to VND 67 billion in Q4 2024, the company still reported a net profit growth of 57%, reaching over VND 140 billion in the last quarter of the year. This is also the highest quarterly profit for this distributor in the past two years.
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| Digiworld's consolidated after-tax profit is expected to reach nearly VND 449 billion for the whole year of 2024. |
Going into detail about the product categories, while laptop sales only grew by 7% as the market cooled down in the last quarter of 2024, sales of Digiworld's other product lines all experienced double-digit growth.
The mobile phone segment generated nearly 2.69 trillion VND in revenue in the fourth quarter, a 22% increase year-on-year, thanks to contributions from Xiaomi's new product lines and the iPhone 16.
Revenue in the office equipment industry increased by 22%, reaching 1.37 trillion VND.
Household goods sales increased by 56%, reaching VND 364 billion, thanks to the peak shopping season before Tet combined with contributions from Phillips brand products.
In the consumer goods sector, despite modest Q4 2024 revenue of VND 297 billion, Digiworld still witnessed a 38% year-on-year growth, thanks to its existing brands in both consumer goods and pharmaceuticals. Meanwhile, the ontrade channel – a new distribution channel that the company was designated to implement from Q4 – also contributed significantly to business results.
With positive results in the fourth quarter, Digiworld's consolidated after-tax profit for the whole year 2024 reached nearly VND 449 billion, 24% higher than the previous year, but only 92% of the target set by shareholders.
Vietjet collaborates with OpenAirlines.
Vietjet has just signed a strategic cooperation agreement with OpenAirlines, a world-leading technology company specializing in fuel-saving solutions and artificial intelligence for the aviation industry.
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| Vietjet has just signed a strategic cooperation agreement with OpenAirlines. |
Vietjet is the first airline in Vietnam to apply SkyBreathe®, an advanced platform that uses artificial intelligence (AI) and big data algorithms to analyze flight data, helping to optimize fuel usage. The system collects and aggregates information from multiple sources such as aircraft data and fuel reports into a single platform. With data from over 21 million flights, SkyBreathe® leverages the world's largest fuel efficiency database for airlines.
The SkyBreathe® 360° platform helps Vietjet identify fuel-saving opportunities, provides specific recommendations for each department, from pilots to flight operations management, promotes team coordination, and enhances efficiency and a green operating culture. According to OpenAirlines, SkyBreathe®, with its user-friendly interface and detailed analysis, can help Vietjet reduce fuel consumption by up to 2% and reduce CO2 emissions by more than 96,000 tons per year.
Vietjet will also deploy the SkyBreathe® MyFuelCoach application to all pilots, a personal tool that helps pilots make more informed decisions, refine flight operations, and develop a fuel-saving culture throughout the airline, thereby optimizing fuel efficiency and reducing environmental impact.
Source: https://baodautu.vn/xay-dung-hoa-binh-da-lai-acv-lai-dam-vietjet-hop-tac-with-openairlines-d244829.html
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