“Eurowindow Holdings Reports Six-Month Profit Quadruples, Liabilities Exceed Equity”

Eurowindow Holding JSC has just announced its financial results for the first half of 2024 with a profit after tax of nearly VND 96.6 billion, up nearly 308% over the same period. The after-tax profit margin improved from 0.3% in the same period last year to 1.2% in the first half of this year.

As of June 30, 2024, Eurowindow’s equity was VND 8,064 billion, up nearly 3% over the same period in 2023. The company’s debt-to-equity ratio is currently at 1.1% (compared to 0.95% in the same period), corresponding to total liabilities of about VND 8,871 billion, of which bond debt accounts for VND 105 billion.

With the above capital structure, it can be inferred that Eurowindow Holding’s total assets at the end of Q2/2024 reached VND 16,935 billion.

Regarding Eurowindow Holding’s bonds, according to data on the HNX Bond Portal, the enterprise currently has 1 lot of bonds in circulation with a par value of VND 105 billion. The bond lot was issued in October 2021 with a term of 3 years, an issuance value of VND 250 billion, due in October 2024, an interest rate of 10%/year, and an interest payment term of 6 months/time.

The report on bond principal and interest payment for the first half of 2024 shows that on April 22, Eurowindow paid more than VND 5 billion in interest for this bond lot.

Eurowindow Holding Joint Stock Company was established on March 16, 2007, operating in the field of real estate, construction materials production, and furniture. This is the core entity in the Eurowindow Group ecosystem of two businessman brothers Nguyen Canh Son and Nguyen Canh Hong. Currently, Mr. Nguyen Canh Son is the Chairman of the Board of Directors of both Eurowindow Group and Eurowindow Holding, while Mr. Son is also the legal representative of Eurowindow Holding, while the legal representative of Eurowindow Group is CEO Nguyen Canh Hong.

In the real estate sector, Eurowindow Holding’s name is associated with a number of urban area projects that have been put into operation, such as Eurowindow River Park (4.2 ha at the foot of Dong Tru Bridge, Truong Sa Street, Hanoi), Eurowindow Twin Park (9.6 ha in Gia Lam, Hanoi), Eurowindow Garden City (6.7 ha in Dong Hai Ward, Thanh Hoa City). … Or some real estate project segments such as Movenpick Resort Cam Ranh, Radisson Blu Resort Cam Ranh, Wonder City Van Phong Bay, and Quang Xuan Luxury.

Within the ecosystem of Eurowindow Group, Eurowindow Holding also operates under a holding model and is managing direct and indirect investment capital in many member companies and associated companies such as Hanoi – Moscow Trade Center Investment Joint Stock Company (Incentra), Vinh Trade Center Investment Joint Stock Company, Eurowindow Nha Investment Joint Stock Company. Trang, Incentra Investment Joint Stock Company, T&M Van Phong Investment and Tourism Joint Stock Company, Eurowindow Light City Real Estate Investment Company Limited, High-tech Construction and Development Joint Stock Company (Hitech), Urban and Park Infrastructure Investment Joint Stock Company along the West Lake and Yen So…

In the ecosystem of Eurowindow Holding, Eurowindow Nha Trang Investment Joint Stock Company is one of the most notable members.

This enterprise was established in January 2008 with the founding shareholders being Eurowindow Holding Joint Stock Company and Mr. Nguyen Canh Hong. However, as of May 15, 2019, Mr. Nguyen Canh Hong has withdrawn all capital, while Eurowindow Holding’s ownership has also decreased to 19%. On March 23, 2023, the company increased its charter capital from VND 1,350 billion to VND 2,150 billion, and the structure of shareholders was not announced. The current Chairman of the Board of Directors and legal representative is Ms. Trinh Thi Minh Hue.

Eurowindow Nha Trang is known as the investor of the Movenpick Resort Cam Ranh project (24ha) and Radisson Blu Resort in Bai Dai – Cam Ranh, Khanh Hoa (11.4ha).

Recently, Eurowindow Nha Trang has also been very active in participating in consortia to seek and invest in new projects.

Accordingly, on June 20, 2024, the consortium of Thang Long Limited Company and Eurowindow Nha Trang was approved by the People’s Committee of Nghe An province to implement the Nghi Lien Urban Area project with a scale of more than 103.6 ha and a total investment of more than VND 6,200 billion.

Previously, in Nghe An, the consortium of Thang Long Limited Company and Eurowindow Nha Trang was also selected to implement the urban project in Nghi Phu and Hung Loc wards, Vinh city.

In 2023, Eurowindow Nha Trang and 2 other companies in the Eurowindow Holding ecosystem, Melinh Plaza Thanh Hoa Commercial Complex Investment Joint Stock Company, and Vinh Trade Center Investment Joint Stock Company were selected as the investors of the urban project in Ward 4 and Ward 6 of Tan An city, Long An with a total construction area of 174.58 ha and an investment capital of over VND 7,118 billion.

In addition, in August 2023, the consortium of Eurowindow Nha Trang, Thang Long Limited Company, and Eurowindow Quang Binh Five Star Joint Stock Company was approved by the People’s Committee of Thai Binh province as the investor to implement the project. developing new urban housing in Tan Binh ward and Tien Phong ward, Thai Binh city, with a total area of 125.4 ha and an expected total investment of VND 7,960 billion.