Source: VietstockFinance
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Ricons’ fourth-quarter net revenue exceeded VND 2,356 billion, a 4% increase year-on-year. Due to a slightly lower cost of goods sold, the company’s gross profit reached nearly VND 146 billion, with an improved gross profit margin of 6%, up from 4% in the previous year.
Notably, Ricons did not record any profit from joint ventures and associates in this period, unlike the previous year when they had a profit of over VND 150 billion. However, total expenses decreased significantly by 53% to VND 135 billion, mainly due to a substantial reduction in financial expenses. As a result, Ricons’ net profit for the quarter was over VND 40 billion, seven times higher than the same period last year.
For the full year 2024, Ricons’ profit doubled from the previous year to nearly VND 159 billion, the highest in three years. This achievement came alongside a 6% increase in revenue to nearly VND 8,012 billion. The majority of this revenue came from construction contracts, which totaled VND 7,780 billion, a 4% increase year-on-year. The real estate segment also saw a significant surge, increasing by 4.7 times to over VND 224 billion.
As of December 31, 2024, Ricons’ total assets amounted to nearly VND 6,835 billion, a 13% decrease from the beginning of the year. Cash and cash equivalents increased by 4% to over VND 713 billion. Short-term financial investments grew by 35% to over VND 1,000 billion, mainly comprising time deposits of over VND 965 billion and bond investments of over VND 37 billion.
Inventory decreased by 43% to VND 432 billion, comprising construction work in progress at various projects, including the T3 Passenger Terminal (over VND 132 billion), Long Thanh Airport (over VND 70 billion), and SLP Park Xuyên Á warehouse (nearly VND 61 billion), among others.
Notably, according to Ricons’ disclosures, Coteccons (HOSE: CTD) still owes the company more than VND 322 billion, and CTCP TCT Cooperation KT Vietnam-Lao owes approximately VND 660 billion. The remaining VND 2,200 billion in receivables is from other customers who are not specifically mentioned. Ricons has made a provision of nearly VND 306 billion for doubtful debts within this total.
The company’s total liabilities as of the end of the year stood at over VND 4,241 billion, a 22% decrease from the beginning of the year. Short-term borrowings amounted to VND 249 billion, and there were no long-term borrowings recorded.
Thanh Tú
– 18:00 26/01/2025
