In particular, PAT plans to approve the AGM with revenue of nearly 1.7 trillion VND and after-tax profit of 230 billion VND. Among them, the expected output of Phosphorus Fluoride is 18 thousand tons, accounting for the majority of PAT‘s revenue.
|
PAT‘s planned targets for 2024
Source: DGC
|
The above targets are significantly lower compared to the performance in 2023 (revenue of over 1.7 trillion VND, after-tax profit of nearly 286 billion VND). It is worth mentioning that the 2023 results have already decreased sharply compared to the previous year, with a 46% drop in revenue and a 70% drop in profit.
The company stated that 2023 was a challenging year for the fluorophosphate business – PAT‘s main product. Rapid price decline (45%) and declining demand have forced the company to reduce production capacity. Along with the increasing prices of raw materials, the production and business results have declined significantly.
| PAT‘s business situation from 2020 |
The dividend rate for 2023 approved at the 2023 AGM is 140%. However, with the declining results, PAT said it cannot achieve this plan. The company has only temporarily advanced 90% and is expected to pay the remaining 10% dividend for 2023 this year, equivalent to a 100% rate. The expected dividend rate for 2024 is 70%.
In addition, the 2024 AGM will also elect new members of the BOD and the Supervisory Board for the new term (2024-2029). The leadership team is expected to remain unchanged, with Mr. Dao Huu Huyen continuing to hold the position of Chairman of the BOD for the new term of PAT.
Regarding the remuneration for 2024, PAT plans to propose at the AGM a monthly salary of 8 million VND for the Chairman of the BOD; 7 million VND per month for each BOD member; 6 million VND per month for the Chief of the Supervisory Board; and 4 million VND per month for the Supervisory Board members.
It is worth noting that the 2024 AGM documents of DGC include a proposal to study the merger of PAT into DGC. However, the documents of PAT do not mention this issue.
The 2024 AGM of PAT is scheduled to be held at 8:30 am on March 27, 2024, at the Grand Hall of DGC in Thang Thanh Ward, Long Bien, Hanoi.
