Quarter I/2023: Viglacera exceeded the target profit and revenue target
Specifically, Viglacera exceeded the target of the Parent company with a profit of 242% of the March plan, reaching 196% of the first quarter plan; the Revenue index reached 153% of the plan in March and reached 125% of the plan for the first quarter of 2023.
This is information from the Viglacera’s report on production and business results in March and the first quarter of 2023.
This report also gave the assessment of enterprises on factors that have affected the Corporation’s business results in the first quarter of 2023, such as: The product consumption market was narrowed and reduced, and manufacturing enterprises were directly affected by fluctuations from the increase in input material prices, tightened credit is difficult to access capital flows, especially in the business of building materials and real estate.
The industrial zone real estate business segment together with dividends collected from associates contributed a large part to the total revenue and profit in the first quarter of 2023.
It is forecasted that in the second quarter of 2023, the domestic economy is still facing many difficulties, there has not been a breakthrough in growth but will improve compared to the first quarter thanks to the signal of reducing bank interest rates for real estate and loosening policies from the Government.
In that context, Viglacera will deploy solutions synchronously with both Production and Business – Trade blocks to be able toward its goal of fulfilling the assigned targets.
Specifically, the Production division will balance the production plan according to the actual needs of the market, and at the same time continuously improve product quality, and launch new products in line with the demand trends of users in each region with the most favorable prices in the context of economic difficulties. Along with that, the Business – Trade division will closely research the market, expand distribution channels to provinces, to each store and provide products to end consumers; deploy business solutions from domestic to export markets, a set of products suitable to customers’ needs, competitive prices with branded products and the most guaranteed quality.
In 2023, Viglacera sets a target of total consolidated revenue of VND 16,000 billion, a profit before tax of VND 1,300 billion. Regarding VGC, the company has a charter capital of VND 4,483 billion, of which GELEX (GEX) holds 50.21% of charter capital through GELEX Infrastructure Joint Stock Company.