According to the audited financial statements of 2023, SZB recorded net revenue of nearly 383 billion VND, a 6% increase compared to the previous year. The main source of revenue, accounting for 67% of the total revenue, is still the leasing of land and infrastructure business with nearly 257 billion VND, an 8% increase. The net profit reached over 116 billion VND, a 9% increase.
Compared to the plan, Sonadezi Long Binh exceeded the targets for total revenue and after-tax profit by 3% and 4% respectively in 2023. This is also the year when the Company achieved the highest business performance (including revenue and profit) since its listing on HNX at the end of 2019.
| Financial performance of SZB from 2019-2023 |
Sonadezi Long Binh stated that land leasing and infrastructure business remain its core areas. In 2023, the Company successfully signed new lease contracts for 2 FDI projects with investors from Germany and China, with a total value of about 144 billion VND.
Regarding the plan for 2024, SZB announced that the Company has completed the signing of a contract and transferred the land rights of 5.7 hectares in Chau Duc Industrial Park, bringing in revenue of more than 108 billion VND. This is a remarkable project in the early months of 2024.
The Company also aims to fully exploit the remaining 60,000m2 of land in Xuan Loc Industrial Park to achieve a 100% occupancy rate; fully utilize the ready-to-rent workshops, with a scale of 11,500m2 in Thanh Phu Industrial Park and Chau Duc Industrial Park; invest in building a cluster of workshops on a 42,500m2 land plot to ensure the supply in the coming years.
Based on these goals, Sonadezi Long Binh sets an optimistic business plan for 2024 with a target of nearly 520 billion VND in total revenue and over 189 billion VND in after-tax profit, representing a 29% and 63% increase respectively compared to 2023. The Company also plans to distribute dividends at a rate of 35%.
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Business plan for 2024 of SZB
Source: SZB
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The Annual General Meeting of Shareholders in 2024 of SZB is scheduled to be held on March 28, 2024 at 1, 3A Street, Bien Hoa 2 Industrial Park, Long Binh Tan Ward, Bien Hoa City, Dong Nai Province.
In the stock market, VN-Index experienced a sharp decline on March 8, dropping 1.66% to 1,247.35 points. However, the stock price of SZB went against the market trend, reaching 37,600 VND/share, a 4.16% increase in the session and a 20% increase compared to the beginning of 2024.
| Stock price movement of SZB since the beginning of 2024 |
