Despite acknowledging that the cement industry remains mired in challenges due to oversupply, high production costs, and intense price competition from cheap imported products, BTS remains optimistic about its prospects for 2025, following two years of losses.
According to this year’s plan, the company aims for a total revenue of over 2,794 billion VND, a 5% increase from the previous year, and a profit after tax of more than 29 billion VND. In the previous year, the company incurred a loss of nearly 202 billion VND, the heaviest loss in over a decade. In 2023, the loss amounted to over 96 billion VND.
The results for the first quarter of 2025 indicate that the road to recovery is still fraught with obstacles, as the company posted a loss of nearly 29 billion VND, marking the tenth consecutive quarter of losses. Nonetheless, this figure represents a significant improvement compared to the loss of nearly 56 billion VND in the same period last year. The company last reported a profit in the third quarter of 2022, amounting to over 8 billion VND.
| BTS posts loss for the tenth consecutive quarter |
In terms of revenue, BTS recorded a 19% growth, reaching nearly 614 billion VND, equivalent to 22% of the annual revenue target. However, the company still has a long way to go to achieve its profit goals.
Source: VietstockFinance
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As of the end of March, the company’s accumulated loss exceeded 320 billion VND. Total assets amounted to nearly 3,240 billion VND, a 5% increase from the beginning of the year, but cash holdings declined sharply by 41%, leaving only over 59 billion VND. Short-term receivables also surged to over 280 billion VND, triple the amount from the previous period.
Inventory stood at nearly 522 billion VND, a 9% increase. Construction work in progress increased by 15% to over 136 billion VND, focusing on key projects such as the Ba Sao clay mine, the Hòa Bình clay mine, and the waste heat power system.
BTS faces mounting financial pressure as its total liabilities climbed to nearly 2,202 billion VND, a 9% increase from the beginning of the year. Of this, financial borrowings accounted for 54%, equivalent to nearly 1,200 billion VND. To reduce operating costs, the company cut 10 employees in the first quarter.
After two years of losses, Xi măng VICEM Bút Sơn aims for profitability in 2025
– 08:00 01/05/2025
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