In the first quarter of 2024, HTI recorded net revenue of over VND 110 billion, a 4% increase compared to the same period last year. The cost of goods sold increased, so after deduction, the company’s gross profit was more than VND 44 billion, a decrease of 10%.
A bright spot in HTI‘s Q1 was that most expenses decreased. Of this, interest expense was nearly VND 15 billion, down 26% year-over-year; sales expenses were over VND 9 billion, down 9%.
Finally, HTI‘s net profit reached nearly VND 15 billion, up 7% compared to the same period last year.
Source: VietstockFiance
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In 2024, HTI set a business plan with revenue of nearly VND 457 billion and pre-tax profit of VND 75 billion, up 3% and 4% respectively compared to 2023. Compared to the plan for the year, the company achieved 24% of the revenue target and 25% of the pre-tax profit target after the first quarter.
As of the end of March, HTI‘s total assets were nearly VND 1,432 billion, an increase of 3% compared to the beginning of the year; of which, the company had nearly VND 184 billion in bank deposits, up 117%. HTI‘s capital is mainly concentrated in the form of long-term assets of nearly VND 1,230 billion, accounting for 86% of total assets.
The cost of construction in progress was over VND 47 billion, up 4%, mainly concentrated in the Tan Ky Tan Quy Bridge project of over VND 34 billion and the project to complete the automatic non-stop toll collection system (ETC) of over VND 11 billion.
On the other side of the balance sheet, the company had nearly VND 935 billion in liabilities, an increase of 3% compared to the beginning of the year. Of which, long-term financial debt was over VND 577 billion, a decrease of 2%, accounting for 62% of total debt.
