Quite a few water industry companies have announced their business results for 2023 with positive results. Image illustration.
As of now, a number of water industry companies have announced their business results for 2023 with generally positive results. A case in point would be the “big player” in the water industry, Water Supply Corporation One (Stock code: TDM), which has announced its Q4 financial report and its cumulative 2023 financial report with revenues reaching 532.6 billion VND and after-tax profits of around 284 billion VND, representing increases of 11% and 29% respectively compared to 2022. The company attributes the increase in profits mainly to dividends received from Binh Duong Water-Environment Corporation (BWE, Stock code: BWE). As of the end of September 2023, TDM held a 37.42% stake in BWE.
HueWater Supply Corporation (HueWACO, Stock code: HWS) released its Q4/2023 financial statements, with net revenues exceeding 150 billion VND, a slight decrease of 2% compared to the same period last year. Despite the decrease in revenues, cost of goods sold increased, causing the company’s gross profit to fall back by 20% to 43 billion VND.
Financial activities for this quarter fared poorly, with revenues reaching just over 4 billion VND, a decrease of over half compared to the same period last year. Meanwhile, expenses across the board increased, with management costs accounting for the majority of the increase, rising by 65% to over 16 billion VND. Notably, other profits reached nearly 11 billion VND, far exceeding the loss of 1.5 billion VND in the same period, however, the company did not present any explanation regarding this profit.
After deductions, HWS’s post-tax profit for Q4 reached nearly 16 billion VND, a decrease of 45% compared to the same period last year, marking the quarter with the lowest profit for the company since Q2/2022, that is the lowest in 7 quarters.
Thanks to the improved profits of the previous 3 quarters, in 2023 as a whole, HueWACO achieved a post-tax profit of nearly 127 billion VND, an increase of 7% compared to 2022 and surpassing the annual plan by 2% (124 billion VND). This represents a new profit record for the company since its inception.
Similarly, another company in the same industry, Lam Dong Water Supply Corporation (Stock code: LDW), also reached its peak profits in 2023. Specifically, the company’s pre-tax and after-tax profits reached over 100 billion VND and 80 billion VND, respectively, representing increases of over 40% compared to 2022, and surpassing the annual plan by 35% (74 billion VND).
For Q4/2023, LDW achieved net revenues of nearly 71 billion VND and after-tax profits of over 17 billion VND, representing increases of 4% and 44% respectively compared to the same period last year. However, this is the quarter with the lowest profit for the company in 2023.
Following closely behind is Water Supply Corporation Nha Be (Stock code: NBW), which achieved post-tax profits of over 25 billion VND in 2023, an increase of 22% compared to the previous year, and the highest profit level for the company in the past 9 years since 2015.
