The Cash Cows of Benthanh Group in the First Nine Months

5 December, 2024

## Benthanh Group’s 9-Month 2024 Financial Results: A Comprehensive Review

A detailed look into Benthanh Group’s financial performance for the first nine months of 2024.

Source: Benthanh Group

The company reported impressive growth in its top-line figures, with consolidated revenue reaching over VND 133 billion, marking a 49% increase compared to the same period last year. This growth can be attributed to the effective strategies implemented by the company.

## Financial Insights:

– Financial income also saw a notable 10% increase, totaling nearly VND 149 billion. This includes dividends and profit sharing, which accounted for more than VND 132 billion, a 14% rise.

– SVC, a subsidiary of Benthanh Group, contributed the highest proportion to the group’s dividend and profit with over VND 27 billion.

– While revenue increased, so did expenses. The most significant change was in the selling expenses, which soared to over VND 31 billion, a staggering 287-fold increase compared to the previous year. Management expenses also rose by over 8%, totaling more than VND 51 billion.

– As a result of these increased expenses, especially in selling costs, Benthanh Group’s net profit after tax (for the parent company) decreased by nearly 17% to just under VND 119 billion for the nine-month period.

## Balance Sheet Highlights:

– As of September 30, 2024, Benthanh Group’s total assets stood at nearly VND 3,200 billion, a 7% decline from the start of the year. This decrease is mainly due to a 36% reduction in cash holdings, which now stand at nearly VND 227 billion.

– On the other hand, the trading securities portfolio remained unchanged at approximately VND 322 billion.

– The liability side of the balance sheet remained relatively stable, with total liabilities of over VND 1,000 billion. Notably, the company maintained its debt-free status.

## Leadership Changes:

– On November 11, 2024, Benthanh Group announced that Mr. Phan Văn Quang, Chairman of the Members’ Council, would assume the role of legal representative of the company, replacing Mr. Hoàng Tâm Hòa, who currently serves as a Member of the Members’ Council. The decision came into effect immediately.

– Mr. Phan Văn Quang – Chairman of the Members’ Council of Benthanh Group:

– Concurrently, Mr. Phan Tấn Thảo was appointed as the Acting General Director of Benthanh Group, effective November 11.

– Mr. Thảo, born in 1976, holds a Bachelor of Economics, a Bachelor of English, and a high-level political theory qualification. He has extensive experience working in various group subsidiaries and within Benthanh Group itself. Prior to his appointment as Acting General Director, Mr. Thảo served as the Deputy General Director of the company.

– Mr. Phan Tấn Thảo – Acting General Director of Benthanh Group: