Yeah1's profit is 11 times higher than the same period last year.

Yeah1's after-tax profit in the third quarter reached over 34 billion VND, 11 times higher than the same period last year and the highest quarterly profit in over two years.

According to the financial report of Yeah1 Group Joint Stock Company (stock code: YEG), net revenue in the third quarter of 2024 reached VND 345 billion, more than three times higher than the same period last year. Gross profit exceeded VND 79 billion, 3.6 times higher than the same period last year. Consequently, the gross profit margin increased from 20% to 23%.

Financial, sales, and administrative expenses all increased compared to the same period last year. Specifically, financial expenses increased by 37% to approximately 10 billion VND, sales expenses increased by 75% to over 7 billion VND, and administrative expenses doubled to over 39 billion VND.

After deducting expenses, the company reported a net profit of over 34 billion VND, nearly 11 times higher than the 3.2 billion VND recorded in the same period last year. This is the company's highest quarterly profit since the first quarter of 2022.

For the first nine months of the year, Yeah1 recorded net revenue of VND 629 billion, 2.5 times higher than the same period in 2023. Of this, advertising and media consulting contributed VND 560 billion, with the remainder coming from content licensing, service provision, and e-commerce. Gross profit for this period was approximately VND 111 billion, double that of the same period last year. The gross profit margin reached 17.5%, a decrease of 4.5 percentage points compared to the same period.

Financial revenue reached VND 101 billion, more than three times higher than the same period last year. Of this, profit from divesting subsidiaries contributed approximately VND 60 billion, and interest income from deposits exceeded VND 21 billion. Yeah1 reported pre-tax profit of over VND 59 billion and after- tax profit of approximately VND 56 billion, respectively seven times and 4.5 times higher than the same period last year.

According to management, the significant fluctuations in gross profit and after-tax profit were due to strong revenue growth from advertising and media consulting services compared to the same period last year. In the third quarter alone, the growth was driven by revenue from advertising, media consulting, and content licensing.

This year, Yeah1 aims for revenue of 800-1,100 billion VND, an increase of 94-167% compared to 2023. The company expects after-tax profit of 65-105 billion VND, an increase of over 145-296% compared to last year. After the first three quarters, the producer of "Brother Overcoming a Thousand Obstacles" has completed 57-79% of its revenue plan and 53-86% of its profit target.

At the annual meeting held in May, in response to a shareholder's question about whether increasing charter capital could reduce profitability, Ms. Le Phuong Thao, Chairwoman of the Board of Directors, said that 2023-2024 is a golden period to invest in fundamental resources such as people, studios, technology, etc., with the aim of serving the high-quality content production segment.

She believes this is the right direction, as most competitors in the industry have yet to focus on investing in the platform, instead allocating capital to individual projects . In the future, when the economy recovers , these preparations will help the company record higher profits, thereby improving profitability and bringing greater value to shareholders.

As of the end of the third quarter, Yeah1's total assets reached VND 2,423 billion, an increase of VND 563 billion compared to the beginning of the year. The company had nearly VND 1,231 billion in short-term assets, including a newly arising receivable of over VND 82 billion from Google Asia.

The company recorded total liabilities exceeding VND 988 billion, more than double the amount at the beginning of the year. Short-term loans accounted for the largest proportion of the company's debt structure, at approximately VND 500 billion. Shareholder equity currently stands at VND 1,435 billion, a slight increase compared to the beginning of the period.

On the stock exchange, YEG shares have fallen 18% from their price at the beginning of the year, to 9,700 VND. The average trading volume over the last 10 sessions is approximately 1.6 million units. The company's market capitalization is around 1,329 billion VND.

Source: https://baodautu.vn/yeah1-lai-gap-11-lan-cung-ky-d228457.html