Revenue in the first quarter fell, and Everest Securities lost more than 35 billion dong

DNHN - Everest Securities' total operating revenue for the first quarter decreased to VND 61.9 billion due to a decline in revenue from the company's primary business activities.

Everest Securities Joint Stock Company (EVS/HNX) ended the first quarter of 2023 with a net loss of more than 35 billion dongs. During the same period, the company's primary business activities declined.

In the first quarter of 2023, market liquidity plummeted, causing EVS's securities brokerage activities to generate only VND 5.7 billion in revenue, or 82% less than the same period in 2022. Similarly, income from lending activities decreased by 82% to VND8.7 billion.

Profit from financial assets recorded through profit/loss FVTPL decreased by 64 percent year-over-year, to VND 46.9 billion.

The decrease in revenue from the company's primary business activities resulted in an 80% decline in total operating revenue from VND 307 billion in the same period to VND 61.9 billion in the first quarter of 2023. The company's operating expenses decreased by 65 percent to reach VND 84.9 billion.

The Company incurred an operating loss of nearly 23 billion dongs and an after-tax loss of more than 35 billion dongs in the first quarter of 2023 as a result of expenses exceeding revenues.

Compared to the same period in 2021, the Company's operating revenue in the fourth quarter of 2022 was only VND 167.5 billion, a decrease of 63%. Likewise, operating expenses decreased by the same percentage (by 62%) to VND56.9 billion. At the end of the fourth quarter of 2022, the company reported a pre-tax profit of 100.8 billion dongs (down 62%) and a net profit of 80.2 billion dongs (down 63%).

The Company's operating revenue for the entire year of 2022 was VND 905.6 billion, a 19% decrease compared to 2021. The Company's operating expenses increased from VND 506 billion in 2021 to VND 732.7 billion in 2022, or the same amount as in 2021. equivalent to a 45 percent rise.

The loss from financial assets recognized through profit/loss (FVTPL) doubled to VND 486.3 billion during this period. The cost of consulting services has increased to over 111 billion VND, up from only 4.1 billion VND the previous year. The company reported a net profit of 75.9 billion dongs for the entire year of 2022, down 82% from 2021.

P.V (t/h)