28-01-2022Hung Thinh Incons Joint Stock Company (Hung Thinh Incons, HOSE: HTN) has just announced its consolidated financial statements for the 4th quarter of 2021, which shows the outstanding revenue and profits compared with the same period of the previous year, contributing to the whole year’s exceeded results to the set plan. In 2022, Hung Thinh Incons continues to set growth targets compared to this year.
In the 4th quarter of 2021, HTN's consolidated revenue reached more than 2,655 billion dongs, profit after tax was 98.3 billion dongs, increased sharply by 2.6 times and 1.7 times respectively over the same period, due primarily to the sharp increase of construction work acceptance value compared to the previous quarters. Specifically, the main contribution comes from the projects of Merry Land Quy Nhon tourism, trade and entertainment complex, Q7 Saigon Riverside Complex, Lavita Charm, and other projects. The gross profit margin was 7% lower than the same period last year primarily due to no real estate revenue generated in the period and the fluctuation of capital cost.
In 2021, although the Covid-10 pandemic caused businesses to stagnate for nearly 6 months, Hung Thinh Incons still strove to complete the construction progress of the projects as planned and had a successful year. Consolidated revenue for the whole year reached VND 6,164 billion in revenue and VND 241 billion in profit after tax, reaching 107% and 103% of the revenue and profit plan in 2021, respectively.
By the end of 2021, HTN's total assets reached VND 7,584 billion, an increase of VND 2,042 billion compared to the beginning of the year.
HTN's financial structure is safely and effectively maintained and always ensures good liquidity. Cash and cash equivalents as of December 31, 2021, increased 3.5 times compared to those at beginning of the year, while the current ratio and quick ratio were at 1.16 and 0.99 respectively. In order to increase construction capacity and improve financial capacity, HTN increased its chartered capital to 891 billion dongs through successful issuance including two issuances of shares to existing shareholders and 80% of shares for the 2020’s dividend payment.
This is the highest dividend paid since HTN was listed on HOSE from the end of 2018. According to HTN's representative, the rise in chartered capital not only shows solid business performance in recent years but also is to improve capital capacity to promptly implement the company's business plans such as developing cooperation with real estate project investors and preparing potential expansion into the field of infrastructure construction.
Hung Thinh Incons is known for its competitive advantage for being a major piece of the ecosystem of Hung Thinh Corporation. Possessing strong financial resources, rich experience, and state-of-the-art technology, Hung Thinh Incons is qualified to be the general contractor for large-scale projects in the market. Its other significant strengths include adopting modern technology in construction for optimal construction management and cooperating with several R&D centers for the more cutting edge, greener, and more economical construction materials, altogether contributing to the outstanding growth of the company. In addition, Hung Thinh Incons also actively expands the construction market by forming partnerships with partners beyond the Hung Thinh Corp ecosystem, step by step entering the field of infrastructure construction to diversify products and ready to welcome the wave of public investment.
For the full year 2021, Hung Thinh Incons continuously completed and handed over many projects, namely Lavita Charm Apartments (Thu Duc City, Ho Chi Minh City), Q7 Boulevard (District 7, Ho Chi Minh City), Cam Ranh Mystery Villas beach resort (Khanh Hoa Province).
Furthermore, Hung Thinh Incons has signed the new construction contracts for Bien Hoa Universe Complex (Bien Hoa City, Dong Nai Province), Moonlight Center Point (Binh Tan District, Ho Chi Minh City), New Galaxy Nha Trang (Nha Trang City, Khanh Hoa Province) projects and the key projects in Binh Dinh province such as Richmond Quy Nhon, which ensures its revenue in the medium term.
It can be said that Hung Thinh Incons has been affirming its position and becoming a leading brand in the construction industry of Vietnam thanks to its existing potential in finance, human resources, management, construction technology, etc., and experience in implementing a series of major projects.
It is also known that Hung Thinh Incons’s bid winning for Moonlight Centre Point in Binh Tan Dist, HCMC with a total estimated value of nearly 1,700 billion VND has increased its total accumulated bid winning value for the whole year 2021 to more than VND 14,000 billion.
HTN has also come up with 2022’s business plan with revenue and profit after tax reaching 8,068 billion dongs and 286 billion dongs, increasing 31% and 19% respectively when compared with 2021’s results. The revenue and profit values in 2022 are carefully estimated by HTN based on the expected backlog of the contracts that the company has signed as the general contractor and the expected bidding for projects outside Hung Thinh Corp’s ecosystem in the upcoming time.
Closing the trading session on January 26, 2022, HTN's shares reached the price of VND 43,700 per share, which is 2.36 times higher than at the beginning of 2021; market capitalization reached 3,894 billion dongs, which proves the trust and companionship of its investors.
Thanks to its excellent business results over the year and profitability maintenance, Hung Thinh deserves to be ranked number 5 in the top 50 best performing listed companies in Vietnam 2021 – an annual event in HCMC hosted by Nhip Cau Dau Tu Magazine, in collaboration with Thien Viet Securities Company. The event’s got consultation from Harvard business experts and references from the global Bloomberg Businessweek, Fortune, Forbes ranking lists. The ranking is based on the company's business results measured for 3 consecutive years, based on 3 growth indicators: revenue, return on equity (ROE), and return on the stock.
Tin liên quan:
https://tinnhanhchungkhoan.vn/hung-thinh-incons-htn-but-pha-thanh-tich-kinh-doanh-quy-4-2021-doanh-thu-gap-2-6-lan-vuot-ke-hoach-nam-post290346.html
https://vietstock.vn/2022/01/hung-thinh-incons-htn-doanh-thu-quy-4-but-pha-vuot-ke-hoach-nam-2021-737-929646.htm
https://thesaigontimes.vn/hung-thinh-incons-htn-but-pha-thanh-tich-kinh-doanh-quy-4-2021-doanh-thu-gap-26-lan/
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