In Q1 / 2021, Viglacera’s net profit increased by 65% ​​over the same period

The industrial real estate sector continues to be the main contributor to Viglacera’s profit growth.

In the first quarter of 2021, Viglacera reported a profit after tax of 279.5 billion VND, up 65% over the same period (Source: Internet) Viglacera Corporation (Viglacera – Ticker: VGC) has just announced its Q1 / 2021 financial statement. Accordingly, the company recorded net revenue for the period of VND 2,358 billion, a slight decrease of 0.6% compared to the same period last year. However, the cost of goods sold decreased sharply, at 8.6%, down to 1,681 billion dong. L Therefore, Viglacera reported a gross profit of 677 billion VND, up 27% compared to Q1 / 2020. In the first 3 months of the year, revenue from financial activities of Viglacera reached 4.9 billion VND, down more than 66% compared to the same period last year, while the cost of this activity was still flat at 46 billion VND. Selling expenses decreased slightly by 5% to 149.5 billion, while administrative expenses increased 28% to over 151 billion. Profits from joint ventures and associates of Viglacera reached more than 16.8 billion, up 5.8 times compared to Q1 / 2020; Loss from other activities also decreased by more than 55%, to VND3.8 billion. As a result, Viglacera’s profit before tax in Q1 / 2021 reached VND 347.7 billion, up 58% over the same period and completed 34.7% of the year plan. After tax, Viglacera reported a net profit of 279.5 billion VND, up 65% over the same period, of which profit attributable to the parent company was 277 billion VND, up 182% over the same period in 2020. In 2021, Viglacera sets a target of a total revenue of 12,000 billion VND, an increase of 27% compared to 2020; Profit before tax is expected to reach VND 1,000 billion, an increase of 19% compared to the previous year. In terms of investment activities, in 2021 Viglacera plans to spend VND 2,400 billion on investment in technical infrastructure and services in industrial zones (IZs); VND 375 billion for the housing business and VND 25 billion for materials, research and development, and training. In which, the company plans to deploy, prepare to invest in new projects such as: Viglacera Eurotile brick factory, with a capacity of 9 million m2 / year in Ba Ria – Vung Tau; Thuan Thanh I Industrial Park is 249.75 hectares in Bac Ninh; worker housing project in Dong Mai Industrial Park, Tien Hai Industrial Park, social housing area in Tien Duong – Dong An. In addition, Viglacera also researches and develops industrial zones, including: Doc White Stone Industrial Park in Van Phong Economic Zone – Khanh Hoa (288 ha, expected to be invested by Yen My Industrial Park Joint Stock Company); industrial zones in Hue such as La Son Industrial Park, expanded Phong Dien Industrial Park (about 160 ha). Since April 6, 2021, Viglacera officially became a subsidiary of Vietnam Electrical Equipment Corporation (Gelex – Ticker: GEX). Accordingly, Viglacera’s business results will be consolidated into the parent company from the beginning of Q2 / 2021. /.