In 2023, MPC achieved a net revenue of 10,689 billion VND, a decrease of 35% compared to the previous year. Gross profit was at 1,066 billion VND, corresponding to a gross profit margin of about 10%, lower than the 17% margin of the previous year.
Notably, the financial operating revenue in 2023 declined nearly 56% to 98 billion VND. Financial costs also decreased by 31% to 249 billion VND, but borrowing costs increased by nearly 65% compared to the previous year, amounting to 141 billion VND.
After deducting sales expenses (738 billion VND) and business management expenses (297 billion VND), MPC reported a net loss of 98 billion VND.
In the fourth quarter, MPC’s net revenue reached 3,223 billion VND, an increase of 26% compared to the same period. However, net profit dropped by 95% to 12 billion VND. MPC stated that the reason was due to the ineffective business operations of its commercial shrimp farming companies during the reporting period.
In the balance sheet, MPC had total assets of 10,195 billion VND at the end of 2023, a 4% contraction compared to the beginning of the year. Cash and cash equivalents amounted to over 234 billion VND, a decrease of 62%. Construction in progress was recorded at 1,413 billion VND, an increase of 42%.
Business securities (shares) were valued at nearly 9 billion VND, unchanged from the beginning of the year. Short-term investments (time deposits) amounted to nearly 48 billion VND, and long-term investments (bank bonds) were 18 billion VND.
Source: Company Financial Statements
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On the liabilities side, total payable debts amounted to over 4,737 billion VND, a decrease of over 2% compared to the beginning of the year, with the largest portion being short-term borrowings and financial lease liabilities of 3,648 billion VND.
