Trung Nam Group, a prominent Vietnamese construction and investment company, recently released its periodic financial report for 2023, providing insights into its performance and financial health.
According to the report, as of the end of 2023, Trung Nam Group’s owner’s equity stood at VND 21,440.5 billion, representing a 9% decrease from the previous year’s figure of VND 23,651.4 billion. The debt-to-equity ratio reached 0.77.
Notably, the company’s bond debt-to-equity ratio was 0.14, translating to VND 3,001.6 billion in bond debt. A comparison of the company’s performance over the years reveals a profit after tax of VND 241.6 billion in 2022, a loss after tax of VND 2,120.5 billion in 2023, and a profit of over VND 1,600 billion in 2021.
The consolidated report showed a different picture. As of the end of 2023, Trung Nam Group’s owner’s equity reached VND 24,289.6 billion, a 12.9% decline from the previous year’s VND 27,914 billion. The debt-to-equity ratio stood at 2.68, while the bond debt-to-equity ratio was recorded at 0.75, with bond debt amounting to VND 18,217.2 billion.
The company’s financial performance took a hit, with a loss after tax of VND 2,878.2 billion in 2023, compared to a profit after tax of VND 252 billion in the previous year. The return on equity (ROE) as of the end of 2023 was -11.85%, a significant drop from the positive ROE of 0.91% in the same period last year.
Established in 2004, Trung Nam Group has evolved over 18 years to become a diverse conglomerate with a presence in five key sectors: Energy, Infrastructure, Construction, Real Estate, and Information Technology & Electronics.
