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, marking 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 at the end of 2023 accounted for 0.14 times its equity capital, translating to a bond debt of VND 3,001.6 billion.
A striking observation was the shift in profitability. While the company reported a net profit of VND 241.6 billion in 2022, it recorded a net loss of VND 2,120.5 billion in 2023. This contrasts with the profit of over VND 1,600 billion reported in 2021.
The consolidated report revealed that Trung Nam Group’s equity capital reached VND 24,289.6 billion at the end of 2023, representing a 12.9% decline from the previous year’s figure of VND 27,914 billion. The debt-to-equity ratio stood at 2.68.
The bond debt-to-equity ratio was 0.75, indicating a bond debt of VND 18,217.2 billion. The company’s net profit for 2023 dipped into negative territory, recording a loss of VND 2,878.2 billion compared to a net profit of VND 252 billion in the previous year.
As of the end of 2023, the company’s return on equity (ROE) stood at -11.85%, a significant decline from the positive ROE of 0.91% in the previous 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.
