Trungnam Construction Investment Joint Stock Company (Trung Nam Group) has recently disclosed its periodic financial statements for 2023, as required by regulations related to corporate bond offerings and transactions.
According to the standalone financial statements, as of the end of 2023, Trung Nam Group’s equity reached VND 21,440.5 billion, a 9% decrease compared to the end of 2022 (VND 23,651.4 billion). The debt-to-equity ratio stood at 0.77.
The bond debt-to-equity ratio at the end of 2023 was 0.14, corresponding to a bond debt of VND 3,001.6 billion.
Notably, the company reported a tax expense of VND 241.6 billion in 2022, but a tax loss of VND 2,120.5 billion in 2023. In 2021, the company had reported a profit of over VND 1,600 billion.
The consolidated financial statements show that as of the end of 2023, Trung Nam Group’s equity reached VND 24,289.6 billion, a 12.9% decrease compared to the previous year (VND 27,914 billion). The debt-to-equity ratio was 2.68.
The bond debt-to-equity ratio was 0.75, with bond debt standing at VND 18,217.2 billion.
The company incurred a tax loss of VND 2,878.2 billion in 2023, compared to a tax profit of VND 252 billion in the previous year.
As of the end of 2023, the return on equity (ROE) was -11.85%, compared to 0.91% in the same period last year.
Established in 2004, Trungnam Group has a diverse ecosystem with a presence in five key sectors: Energy, Infrastructure, Construction, Real Estate, and Information Technology & Electronics.
