Vinaconex High growth 2023 production and business plan

DNHN - In comparison to 2022, the Executive Board of Vietnam Import-Export and Construction - Vinaconex has devised a business plan with high growth in many categories.

The 2023 Annual General Meeting of Shareholders of Vietnam Construction and Import-Export Corporation (Vinaconex, VCG/HoSE) is scheduled for April 14 in Hanoi, according to documents.

The Board of Management of Vinaconex, after analyzing objective factors and reviewing and evaluating the overall production and business situation, proposed a business plan with high growth in many categories relative to 2022.

Specifically, the company's total consolidated revenue is projected to reach VND 16,340 billion in 2023, with a profit after tax of VND 860 billion, an increase of 70%, and a decrease of 92% compared to 2022's results.

The plan for the parent company's total revenue and profit after taxes in 2023 is VND 10,270 billion and VND 345 billion, an increase of 25% and 22% over the same period in the previous year, respectively. Maintain a 10% dividend payout ratio.

Regarding investment activities, Vinaconex intends to complete sales and hand over apartments at the Green Diamond projects at No. 93 Lang Ha; Urban residential area project at Km3, Km4, Hai Yen ward, Mong Cai city, Quang Ninh; and deploy sales at Hoa Binh Boulevard Urban Area Project (Mong Cai), Cai Gia Cat Ba Amatina New Urban Area (VINACONEXITC)...

Completing procedures and implementing additional projects, including Urban Area Thien An new town (VINACONEX 25), Tuy Hoa resorts urban area project, Phu Yen...

In addition, the company will effectively exploit completed and operational projects, including the Dakba hydropower project, the Cho Mo shopping center project, the commercial center, and the office for lease.

In addition, Vinaconex intends to submit to shareholders a plan to pay dividends in shares at a rate of 10% in 2022, which would result in shareholders holding 100 shares and receiving 10 new shares. There will be no restrictions on the transferability of a dividend-paying stock. With nearly 486 million outstanding shares, the company will issue nearly 48.6 million shares to pay dividends, bringing its charter capital to nearly 5,329 billion dongs.

P.V (t/h)