Illustration photo
|
Biwase has just announced preliminary business results for January 2024, recording water consumption volume of over 16.4 million m3, an increase of 16% compared to the same period and achieving more than 8% of the annual plan. The total capacity remains at 822,000 m3/day; the water loss rate is maintained at 5%.
Finally, the total revenue for January is estimated at VND 281 billion and net profit of over VND 65 billion, corresponding to an increase of 24% and 17% compared to the same period. Note that, up to now, the Company has not recorded revenue of nearly VND 93 billion from waste treatment and wastewater treatment.
Source: BWE
|
In 2024, BWE targets total revenue of VND 4,100 billion and net profit after tax of VND 700 billion. Thus, the water industry “giant” has achieved nearly 7% of the revenue target and more than 9% of the profit plan in the first month of the year.
Regarding business results in 2023, Biwase recorded net revenue of over VND 3,526 billion, a slight increase of 1% compared to 2022 and achieved 89% of the annual plan. Net profit declined by 9% to VND 679 billion, achieving 94% of the annual profit target, mainly due to high financial costs (interest expenses and exchange rate differences).
| Business results of BWE from 2017-2023 |
However, the Company said that the above profit level is within expectations and ensures business safety, dividends. In particular, units such as BIWASE Long An, BIWASE Chon Thanh, and Gia Tan Water Supply Company have all made profits. Notably, BIWASE Chon Thanh Branch achieved revenue of VND 159 billion, equal to 106% of the set plan. Gia Tan Water Supply Joint Stock Company achieved 104% of the plan thanks to the development of 7,849 new customers.
In 2024, Biwase has identified that with a gradually stable foundation of newly acquired companies, the Company will accelerate business development to contribute to the expansion of the water supply system, “quenching the thirst” for residents in difficult areas. At the same time, the Company will increase corresponding revenue.
Meanwhile, with the remaining demand for clean water in Long An, Quang Binh, and Dong Nai, the Company will continue to invest in expanding capacity and network to areas with scarce clean water.
In related developments, BWE has just approved the plan to organize the 2024 Annual General Meeting of Shareholders, expected to be held on March 25 at the Company’s office – 11 Ngo Van Tri Street, Phu Loi Ward, Thu Dau Mot City, Binh Duong Province. The list of shareholders will be final as of January 17, 2024.
BWE plans to submit documents to shareholders such as audited financial statements for 2023, profit distribution plan, dividend payment plan for 2023, 2024; plan to increase charter capital through dividend payment with shares in 2023… Currently, detailed contents of these documents have not been disclosed.
Recently, TDM Water Joint Stock Company (TDM Water, HOSE: TDM) announced its preliminary business results for January 2024, with total revenue of VND 29 billion and net profit after tax of over VND 8.3 billion, corresponding to an increase of 5% and 4% compared to the same period of the previous year.
At the end of 2023, TDM holds 37.42% of the capital of BWE.
