Viglacera's six-month report: The parent company's estimated profit reaches 1,210 billion, achieving 92% of the 2023 plan.
On July 3, 2023, Viglacera Corporation - Joint Stock Company (VGC) held a meeting to evaluate the results of its business operations in the first six months of 2023. Accordingly, the company's business operations continued to record positive results.
General view of the meeting
In just six months, Viglacera is expected to achieve a consolidated net revenue of nearly 7,000 billion Vietnamese dong, of which the parent company reaches nearly 3,000 billion Vietnamese dong, completing 52% of the 2023 plan. The estimated pre-tax profit is 913 billion Vietnamese dong, completing 75% of the full-year profit in 2023. The parent company is close to achieving the estimated profit of 1,210 billion Vietnamese dong, completing 92% of the annual plan.
The main contribution to the revenue and profit results in the first six months of 2023 comes from the real estate sector (especially industrial real estate), which has shown remarkable performance. The expected revenue from the Real Estate segment is over 2,600 billion Vietnamese dong, with an estimated profit of 950 billion Vietnamese dong, completing 90% of the profit plan. Additionally, Viglacera recorded a dividend income of 310 billion Vietnamese dong from its associated companies.
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With 12 industrial real estate parks currently owned and operated, Viglacera maintains a strong position by attracting 300 domestic and foreign enterprises, with over 16 billion USD in FDI, including renowned global companies. By 2025, Viglacera plans to increase the total number of industrial parks to 20, with over 10 new industrial parks covering an additional area of approximately 2,000-3,000 hectares.
It is evident that these are the results of Viglacera's appropriate and determined development direction, which has brought significant profits.
Since the beginning of the year, Viglacera has pursued a strong investment strategy in the industrial real estate sector. It has continuously surveyed, initiated investment projects, and implemented investments in new industrial parks in locations with advantageous infrastructure, attracting investment and business opportunities.
In the construction materials sector, Viglacera focuses on investing in technology, upgrading machinery and equipment, and modernizing production lines in some factories, especially in the production of environmentally friendly products such as energy-saving glass and aerated concrete bricks. These products are gradually yielding positive results and leading the way in the Net Zero trend.
Viglacera sponsors the program "Net Zero - Opportunity for Leaders"
Investing in the new Sacmi Continua+ production line to anticipate the trend of premium large-sized porcelain tiles replacing imported products is the central focus in the Ceramic Tiles segment. Viglacera also continues to expand its investment in a super-white glass manufacturing plant, leading domestic enterprises in supplying glass blanks for solar energy panel production. These are positive signs that reflect the sustainable development direction of the company, with a focus on technology, research, and development of environmentally friendly and pioneering products.
It is clear that after the first half of 2023, Viglacera's Real Estate and Construction Materials segments have achieved good results despite the domestic total product (GDP) only reaching 3.72%, a sluggish real estate market, and reduced consumer demand. This is the result of the company's leadership closely following the management objectives, resolutely directing all aspects of production, business operations, maximizing opportunities in the market, and especially controlling and managing risks.
With positive business results in the first six months of the year, Viglacera is confident in achieving its targets set at the General Shareholders' Meeting and will be a solid foundation, providing momentum for sustainable development in the coming years.
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