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HDA – 2021 PROFIT INCREASED 186%, HIGHEST GROWTH RATE SINCE LISTING
22/01/2022 14:27
Vietnam's Economy in the Q4/2021 has had positive recovery steps, especially in the wholesale and retail sectors. Total retail sales of goods in the Q4/2021 is estimated at VND 4,878 billion, grew 8.65% compared to previous Quarter and 7.43% over the same period, most of the commodity groups increased sharply compared to last year. Beside that, products such as paints of all kinds are sold strongly at the end of the year when contractors accelerate the construction progress to hand over and put into operation in order to complete the annual plan.
Sales increased strongly in the last months of the year, Profit before tax reached VND 35 billion, 3 times higher than the same period last year, exceeding 140% of the 2021 plan
Vietnam's Economy in the Q4/2021 has had positive recovery steps, especially in the wholesale and retail sectors. Total retail sales of goods in the Q4/2021 is estimated at VND 4,878 billion, grew 8.65% compared to previous Quarter and 7.43% over the same period, most of the commodity groups increased sharply compared to last year. Beside that, products such as paints of all kinds are sold strongly at the end of the year when contractors accelerate the construction progress to hand over and put into operation in order to complete the annual plan.
With the advantage of having 3 Factories at 3 key regions and a distribution network stretching from North to South, Dong A Paint Joint Stock Company (“Company” or “HDA”) has recorded positive business results. According to its Consolidated Financial Statements of Q4/2021, HDA recorded Revenue of VND 363 billion, rose 8% compare to last year. Thank to the effective operation network of 700 agents across the country combine with flexible Sales policies, the Sales of 3 main paint product Viglacera, BEHR and BEWIN grew strongly in the last months of the year, exceeding the year plan. In the whole year of 2021, Gross profit reached VND 119 billion, rose 4% compared to the previous year, Gross profit margin remained high at 44%, higher than the Industry average. Financial expenses, especially interest expenses, decreased 24% compared to the beginning of the period. General and administrative expenses dropped sharply by 34% compared to 2020 thanks to the stratedy of reducing costs during the Covid period as well the strenthen and improvement of Company governance policy. As the result, Profit Before Tax (PBT) reached VND 35.1 billion, grew 186% and exceeded 140% of the year plan. Cumulative Profit After Tax for 2021 whole year reached VND 29 billion, increased 261% compared to the same period. Earning per share (EPS) went up VND 2,316 per share, Net Profit Margin increased sharply 11%.
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COMPANY BUSINESS RESULTS FOR 2019-2021 (Unit: Billion VND) |
||||
|
Category |
2019 |
2020 |
2021 |
Growth rate (2021 to 2020) |
|
Revenue |
341.8 |
335.6 |
363.1 |
8% |
|
Gross Profit |
135.9 |
114.5 |
119.1 |
4% |
|
Profit Before Tax |
21.9 |
13.1 |
35.1 |
168% |
|
Profit After Tax |
18.1 |
10.6 |
29.1 |
174% |
Source: HDA
As of December 31, 2021, the Company's Consolidated Total Assets reached VND 396 billion, an increase of 6% compared to the beginning of the year. Specifically, Current Assets increased by 13%, of which, Cash and cash equivalents recorded VND 72 billion, increasing strongly by 84%. Inventories increased by 20% to VND 59 billion, including production materials and Paint products that will be launched before the Lunar New Year.
Total liabilities at the end of 2021 reached VND 170 billion, a slight decrease compared to the beginning of the year with the ratio of Debt/Total Assets and Debt/Equity remained stable at 0.23 and 0.40 respectively.
Source: HDA
Accelerate Capital increase, improve production capacity
The Company is currently completing the procedures for public offering to increase Charter Capital from VND 115 billion to VND 230 billion. Accordingly, HDA will sell 11.5 million shares to existing Shareholders (ratio of 1:1), the offering price is 10,000 VND/share, expected to be completed in the Q1/2022. The Capital raised from the public offering will be used to invest in a subsidiary, Bewin & Coating Vietnam Joint Stock Company (Bewin) and supplement capital for the Company's production and business activities. The additional Capital will facilitate network expansion and improve production capacity for the Company. Up to now, HDA has 3 factories with modern technological lines from the US and Europe and fully automated from the closed feeding stage to the packaging stage in order to produce high quality products.
Vietnam's Economy is expected to return to growth momentum in 2022. Along with the acceleration of infrastructure development and the restart of Domestic Real Estate projects, the demand for paint will increase. With over 15 years of experience, modern production technology and a system of 700 agents stretching from North to South, HDA's business is expected to maintain strong growth momentum in 2022.
For details please contact:
Investor Relations Department
Email: dongapaints@fpt.vn
