Tracodi, a company with a rich history, was established on October 30, 1990, by the Minister of Transport and Post Office, Bui Danh Luu. In June 1993, the company was re-established as a State-owned Enterprise, directly under the Ministry of Transport, and was later transferred to CIENCO 6 in 1995.
In May 2005, the Prime Minister approved the separation of Tracodi from CIENCO 6, and it came under the management of the People’s Committee of Long An province. Subsequently, in June 2007, the province transformed Tracodi into a One-Member Limited Liability Company, investing in industrial development and transportation.
A year later, in June 2008, Long An province transferred the state capital ownership rights of Tracodi to the State Capital Investment Corporation (SCIC). In April 2013, Tracodi completed its transformation into a joint-stock company, adopting the new name of Industrial and Transport Development Joint Stock Company, which it holds to this day.
In early 2015, SCIC completed its divestment from Tracodi, with Bamboo Capital (BCG) acquiring a controlling stake of 68%. As of the end of 2023, BCG still holds 43.9% of TCD.
Source: TCD
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Thus, after more than a decade, Tracodi has rebranded itself as Tracodi Construction Group Joint Stock Company, effective August 29, 2024.
In terms of business performance, Tracodi recorded a revenue of nearly VND 685 billion in the first half of 2024, a 15% decrease compared to the same period last year. Meanwhile, net profit fell by 52% to nearly VND 32 billion. Revenue from construction contracts contributed VND 229 billion, a 27% decrease, accounting for 33% of total revenue.
Source: TCD
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Compared to the 2024 plan of achieving a revenue of over VND 1,920 billion and a post-tax profit of nearly VND 186 billion, TCD has accomplished 36% and 29% of these targets, respectively.
| TCD’s Business Results for the First Half of 2017-2024 |
In other news, Mr. Tran Nguyen Huan has been appointed by the TCD Board of Directors as the new Standing Deputy General Director, effective August 20, 2024.
On the morning of August 30, 2024, TCD shares were trading at around VND 5,170 per share, a 14% decrease compared to the beginning of the year. The average trading volume was over 1.6 million shares per session.
| TCD Share Price Movement since the Beginning of 2024 |
Thanh Tú
Tracodi (TCD) earns 163 billion VND profit in 2023
Throughout the year 2023, Tracodi achieved a consolidated net revenue of VND 1,784.5 billion and a post-tax profit of VND 163.3 billion.
Cen Land’s annual profits plummet to 2.5 billion VND, with nearly 60% of assets being accounts receivables.
Although the fourth quarter saw a reversal in profits, declining revenue resulted in Cen Land’s net profit for the entire year of 2023 only reaching 2.5 billion VND. It is worth mentioning that nearly 60% of the company’s assets consist of receivables from partners, with a total value of approximately 4,100 billion VND.
