With a 15% return on equity (1 share receiving 1,500 VND) and over 14.1 million shares outstanding, approx COM will need to allocate over 21 billion VND in interim dividends for 2023 to shareholders. Expected payment date is April 5th, 2024.
According to the 2023 Annual Shareholders’ Meeting resolution, COM plans to allocate a minimum of 15% dividends for 2023. Therefore, with the aforementioned interim dividend, the Company has successfully fulfilled its plan.
Ending the year 2023, COM achieved a net profit of over 34 billion VND, 27 times higher than the previous year. In Q4/2023, the Company turned around from a loss of nearly 3 billion VND (Q4/2022) to a net profit of over 19 billion VND. The reason for the turnaround is attributed to increased gross profit and reversal of environmental risk provisions.
In 2023, COM set a target of 4,000 billion VND in revenue, a 14% increase compared to 2022. However, the expected after-tax profit is projected to decrease by half, remaining at 15%. The Company exceeded the revenue target by 9% and the profit target by 30%.
As of the end of 2023, COM’s total assets decreased by 7% compared to the beginning of the year, amounting to nearly 491 billion VND. The decrease in total assets is mainly due to a decline in short-term financial investments (12%), inventory (48%), and unfinished construction costs (16%).
The amount of liabilities decreased more significantly than total assets, with a 44% decrease, totaling over 51 billion VND. Specifically, short-term payables to suppliers and short-term receivables from customers decreased by 94% and 40% respectively, amounting to over 2 billion VND and 4 billion VND.
