TCL Aims for Steady Growth in 2024 Despite Challenges

## TCL’s 2024 Annual General Meeting: Financial Plans and Challenges

Specifically, TCL’s Board of Directors plans to present to the 2024 Annual General Meeting of Shareholders the parent company’s business plan with a total revenue of nearly VND 1,515 billion and a net profit of nearly VND 134 billion, unchanged from the 2023 performance.

According to TCL, 2024 presents more challenges than opportunities, both domestically and internationally, influenced by inflation and global prices (especially energy prices) remaining high. Vietnam’s average CPI is expected to increase by approximately 3.5% – 4%.

TCL forecasts that the volume of cargo through the ICD Tan Cang Nhon Trach barge line will continue to be maintained and show signs of growth compared to 2023. The acceptance of IMDG containers for customer delivery will contribute to improved revenue for ICD Tan Cang Nhon Trach.

The company’s reorganization and upgrade of Cat Lai Port have significantly impacted its revenue from yard handling services. Additionally, several infrastructure lease contracts are set to expire in 2024, leading to a significant decrease in TCL’s depot operation revenue. This presents challenges regarding personnel, equipment, and the quality of services committed to shipping lines, affecting TCL’s business results and the demand for empty container storage for Cat Lai Port.

For 2024, TCL plans to invest a total of nearly VND 20 billion, including VND 12 billion for basic construction, VND 5 billion for a 6+1 crane at Cat Lai Port, and nearly VND 3 billion for purchasing gear rings for the Liebherr crane.

Regarding dividend distribution, the Board of Directors proposes a payout ratio of 23.26% (VND 2,326/share) for 2023, with a record date of June 20, 2024, and an expected payment date before July 31, 2024. For 2024, a payout ratio of 23.23% (VND 2,323/share) will also be proposed for approval at the Annual General Meeting.

TCL’s dividend ratio has remained stable in recent years but is slightly lower than in previous years.

Huy Khai