The profit of Thanh Thanh Cong Industrial Park is only 3% compared to the previous year

DNHN - Thanh Thanh Cong Industrial Park's profit after tax in 2022 was only 1.7 billion VND, a decrease of 97.3% from the previous year (profit after tax in 2021 reached 64.3 billion VND).

The financial situation of Thanh Thanh Cong Industrial Park Joint Stock Company (TTCIZ), a member of Thanh Thanh Cong Group (TTC), was shocking when the company's profit for 2022 was reported to have decreased by more than 97%.

According to the most recent financial data available for TTCIZ, the company's equity increased by 51.3% in 2022, reaching VND1,436,2 billion. Likewise, the debt-to-equity ratio has decreased from 6.35 times at the end of 2021 to 4.37 times by the end of 2022. Additionally, the ratio of bond debt to equity has decreased to 0.12, or 172.3 billion VND, from 0.32 in 2021.

Worrisome is the fact that TTCIZ's after-tax profit in 2022 was only VND 1.7 billion, down 97.3% from the previous year (after-tax profit in 2021 reached 64.3 billion). Despite a target revenue of 608.9 billion dongs and a pre-tax profit of 62.2 billion dongs, the company only achieved 3% of its annual goal.

In the meantime, TTCIZ's equity increased by 51.4% compared to the beginning of the year, or by 487.51 billion dong, to 1,436.25 billion dong by the end of 2022. The system's bond debt-to-equity ratio reached 0.12, equating to a total outstanding bond balance of approximately VND 172.3 billion.

TTCIZ has set a revenue target of VND 828 billion and a pre-tax profit target of VND 75 billion in its business plan for 2023. 2023, bringing the total scale to 130,616 square meters.

TTCIZ, formerly known as Bourbon An Hoa Joint Stock Company, was founded on September 10, 2008, as a subsidiary of Thanh Thanh Cong Group. Thanh Thanh Cong Industrial Park is one of the largest industrial parks in the region, with 760 hectares of industrial parks, 184 hectares of warehouses and solar power, and 76 hectares of residential area.

Thanh Thanh Cong Industrial Park Company currently has three bond issues with a par value of VND 300 billion on the financial market. The company has paid bond interest totaling VND 28.2 billion and principal totaling VND 133.4 billion in 2022. The outstanding bond value is therefore VND 166.6 billion.

PV (t/h)