In detail, HDG‘s total revenue in the 1st quarter reached nearly VND 849 billion, a decrease of 11% compared to the same period last year. In which, the real estate business segment remained stable at over VND 315 billion, the construction segment generated nearly VND 4 billion, however, the energy segment (hydropower, solar power and wind power) decreased by nearly 24% to reach nearly VND 414 billion.
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Revenue structure of HDG in Q1/2024
Source: HDG
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Although revenue decreased, HDG‘s cost of goods sold increased by 8%, leading to a 24% decrease in gross profit to VND 438 billion.
The bright spot of the Company perhaps came from financial activities when revenue doubled from the same period last year to more than VND 13 billion, while expenses were reduced by 35% to more than VND 96 billion.
However, HDG only recorded a net profit of over VND 221 billion in the first quarter of 2024, a decrease of 27%. On the other hand, with more than VND 264 billion of after-tax profit, the Company achieved more than 27% of the profit target set for this year.
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Business results of HDG in Q1/2024
Source: VietstockFinance
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As of March 31, 2024, HDG‘s total assets were recorded at nearly VND 14.3 trillion, unchanged compared to the beginning of the year. However, short-term receivables and inventories decreased by 11% and 13% respectively, to more than VND 1.4 trillion and more than VND 931 billion. On the other hand, the amount of cash and cash equivalents held increased by 2.3 times, reaching over VND 579 billion.
