Viglacera (VGC): Viglacera increased its pre-tax profit by 131% compared to the 2023 plan for first 9 months of the year
On October 2nd, Viglacera Corporation - JSC (HoSE: VGC) held a meeting to assess the production and business results of September, report on the summary of the first 9 months of the year, and implement the Q4 2023 plan.
Accordingly, in September 2023, the consolidated pre-tax profit of Viglacera Corporation reached 115% of the monthly plan, with the parent company's pre-tax profit exceeding 112% of the monthly plan. In Q3, the consolidated pre-tax profit of the entire company was 565 billion VND, achieving 124% of the Q3 plan; the parent company's pre-tax profit reached 503 billion VND, achieving 149% of the Q3/2023 plan.
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Overview of the meeting
Accumulated for the first 9 months of the year, the consolidated profit reached 1,590 billion VND, surpassing the annual plan by 131%; the parent company's profit was estimated at 1,694 billion VND, exceeding the annual plan by 129%.
The industrial real estate sector continues to be the key contributor to Viglacera Corporation's Q3 and 9-month results for 2023, with a pre-tax profit estimated at 1,800 billion VND for the first 9 months of 2023 - completing 133% of the annual plan and increasing by 389 billion VND compared to the same period in 2022.
In the context of domestic construction materials facing difficulties, exports continue to show promising signs, reaching 33.6 million USD in the first 9 months, surpassing 151% compared to the same period. Among them, products such as sintered stone, tiles, building glass, and sanitary ware all recorded growth compared to the same period in 2022.
Regarding the Q4 2023 implementation plan, for the real estate sector, Viglacera will continue to focus on land compensation and infrastructure construction, boosting sales activities in housing and industrial projects, and expanding the development of new industrial parks and housing projects in the coming years..
In the construction materials sector, Viglacera will review product groups, ensuring products are suitable for the market in terms of quality, features, prices, and actual demand. Additionally, Viglacera will expedite the introduction of high-value products to the market, including products like sintered stone and ultra-clear glass.
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Images of exported Sintered Stone packages at Viglacera's Factory in Ba Ria - Vung Tau province
In Q4, Viglacera will continue to carry out procedures for the state's divestment at the company, following the guidelines in Document No. 2020/BXD-KHTC dated May 22, 2023, from the Ministry of Construction. At the same time, we will develop the production and business plan for 2024 and the 5-year plan for the 2024-2028 period.
