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, the company’s equity capital stood at VND 21,440.5 billion at the end of 2023, representing a 9% decrease from the previous year’s figure of VND 23,651.4 billion. The debt-to-equity ratio was calculated to be 0.77.
Notably, the company’s bond debt-to-equity ratio at the end of 2023 was 0.14, translating to a bond debt of VND 3,001.6 billion. This indicates a significant change from the previous year’s performance, as the company reported a profit of VND 241.6 billion in 2022 but recorded a loss of VND 2,120.5 billion in 2023.
The consolidated report revealed that the group’s equity capital reached VND 24,289.6 billion, a decrease of 12.9% compared to the end of the previous year (VND 27,914 billion). The debt-to-equity ratio stood at 2.68, while the bond debt-to-equity ratio was 0.75, resulting in a bond debt of VND 18,217.2 billion.
The group’s performance showed a decline in profitability, with a net profit after tax of negative VND 2,878.2 billion in 2023, compared to a positive VND 252 billion in the previous year. The return on equity (ROE) for 2023 was calculated to be -11.85%, a significant drop from the 0.91% ROE achieved in the previous year.
Established in 2004, Trungnam Group has diversified its operations over the years, with a presence in five key sectors: Energy, Infrastructure, Construction, Real Estate, and Information Technology and Electronics.
