In 2023, the average water flow to the reservoir was lower, which caused TBC to face difficulties, and its net profit was only 39% of the previous year.
In 2024, the company expects to pass the General Meeting of Shareholders to approve the business recovery plan. The expected revenue is over 542 billion VND, an increase of 22% compared to the previous year; the net profit is over 166 billion VND, an increase of 32%.
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The business results for the years and the plan for 2024 of TBC
Source: VietstockFinance
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The consolidated and individual plans for 2024 of TBC
Source: TBC
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As for the parent company TBC, it expects to bring in a net profit after tax of 153 billion VND, a 5% growth. Its subsidiary, Mound Hum Hydro Power JSC, plans to bring in a net profit after tax of 113 billion VND, a 30% increase.
Regarding production targets, the estimated consolidated electricity production and delivery volume are 512 million kWh and over 503 million kWh, respectively.
TBC also plans to present to the General Meeting of Shareholders the investment amount for upgrading equipment and facilities of the Thac Ba Hydro Power Plant in the 2021-2025 period, with a total amount of nearly 460 billion VND. Among them, the nearest project is the upgrade of the unit’s equipment, with a total investment of nearly 417 billion VND.
As for dividend payment plan, the dividend for 2023 is 20% (including a partial prepayment in January 2024 with a 10% rate). The company does not have a dividend payment plan for 2024 yet.
Regarding remuneration and salaries, the company plans to allocate over 1.4 billion VND for the leadership team. Among them, the Board of Directors will receive 360 million VND, the Supervisory Board will receive 192 million VND, and the CEO will receive 864 million VND.
The General Meeting of Shareholders of TBC is scheduled to be held at 7:00 am on March 27, 2024, at the TBC Conference Room in Yen Binh District, Yen Bai Province.
