Hung Thinh Incons’ revenue increased 2.5 times in the fourth quarter

Hung Thinh Incons Joint Stock Company (Hung Thinh Incons, HOSE: HTN) has just published its consolidated financial statements for the last quarter of 2021. It reached more than VND 2,655 billion, an after-tax profit of VND 98.3 billion, multiplied by 2.6 and 1.7 times respectively over the same period, due to the increase in the acceptance value of works compared to the previous quarters.

In particular, the main contribution came from the projects, namely the Merry Lan Quy Nhon tourism and entertainment complex, the Q7 Saigon Riverside complex, Lavita Charm and other projects.

The gross profit margin was 7% lower than the same period last year due to the absence of real estate income generated during the period and the fluctuation in the cost of capital.

Hung Thinh Incons accelerated the construction of projects in 2022.

Cumulative in 2021, consolidated revenue reached VND 6,164 billion and VND 241 billion profit after tax, up 107% and 103% respectively.

At the end of 2021, the company’s total assets reached VND 7.584 billion, up VND 2.042 billion from the start of the year.

Although the Covid-19 pandemic caused the businesses to stagnate for almost 6 months, the company still completed the construction progress of the projects as planned and had a successful year.

The company said the company’s financial structure was maintained in a safe and efficient manner and ensured good liquidity.

Cash and cash equivalents as of December 31, 2021 increased 3.5 times compared to the beginning of the year, while the general liquidity ratio and the quick ratio stood at 1.16 and 0.99 respectively .

Hung Thinh Incons recently increased its share capital to VND891 billion through two share issues to existing shareholders and 80% of the shares to pay dividends for 2020, the highest dividend paid since the company went public on HOSE at the end of 2018.

The company said the increase in registered capital not only showed business results, but also aimed to improve the capital’s ability to quickly implement business plans such as developing cooperation with real estate investors and preparing for expansion in the field of infrastructure construction.

Located in the ecosystem of Hung Thinh Corporation, Hung Thinh Incons has the advantage of financial resources, experience and technology to be the general contractor for major projects. The company has applied construction technology to optimize construction management and cooperation of R&D centers for greener and more economical building materials, contributing to the outstanding growth of the company.

In addition, the company has also expanded the construction market by building partnerships with partners beyond the Hung Thinh Corp ecosystem, gradually entering the field of infrastructure construction to diversify products and accommodate the wave. public investments.

In 2021, Hung Thinh Incons completed and delivered many projects, namely Lavita Charm Apartments (Thu Duc City, Ho Chi Minh City), Q7 Boulevard Apartments (District 7, Ho Chi Minh City), Cam Ranh Mystery Villas beach resort ( Khanh province of Hoa).

In addition, the company signed new construction contracts for the Bien Hoa Universe Complex, Moonlight Center Point, New Galaxy Nha Trang and Richmond Quy Nhon projects, which secured its medium-term revenue.

Hung Thinh Incons increased the total value of accumulated winnings to over 14 trillion in 2021, by securing the bid for Moonlight Center Point in Binh Tan district, Ho Chi Minh City, with a total value estimated at nearly 1,700 billion VND.

The company has also drawn up a business plan for 2022 with after-tax revenue and profit reaching VND 8.068 billion and VND 286 billion respectively, up 31% and 19% respectively from the 2021 results.

Revenue and profit values ​​in 2022 are estimated by Hung Thinh Incons based on the expected backlog of contracts the company has signed as a general contractor and expected tenders for projects outside the country. Hung Thinh Corp ecosystem in times to come.

As of the close of trading on January 26, 2022, Hung Thinh Incons shares reached a price of VND 43,700 per share, which is 2.36 times higher than at the start of 2021. The market capitalization reached 3,894 billion VND.

Recently, the company ranked number 5 in the top 50 best performing listed companies in Vietnam in 2021.

The ranking is deployed based on the measurement of business results of companies. company for 3 consecutive years, on the basis of 3 growth indicators: turnover, return on equity (ROE) and profitability of the share.

Ngoc Diễm

Sallie R. Loera