2024: Surpassing Expectations with a 47% Increase in Consolidated Profit Before Tax
2024 presented a year of unpredictable global political and economic landscapes, with rising oil prices, gold prices, and a strong US dollar. Despite these challenges, Viglacera remained resolute in converting them into opportunities for growth. With careful preparation and previously accumulated resources, Viglacera surpassed the profit target set by the Annual General Meeting of Shareholders. Specifically, the company achieved a consolidated net revenue of VND 11,906 billion and a consolidated profit before tax of VND 1,630 billion, exceeding the approved plan by 47%. The expected dividend payout ratio is 22%, 2% higher than the committed target.
Strategic Direction Leads to High Efficiency
In 2024, Viglacera shifted its investment focus towards developing green and smart industrial parks, commencing with the Thuan Thanh Eco Smart-IP project in Thuan Thanh, Bac Ninh. Efforts were made to enhance amenities, digitize management and operations, improve the environment, and integrate smart technologies in the industrial parks to enhance competitiveness and attract investments. This strategy gradually gained traction.
The year 2024 also marked Viglacera’s governmental approval for three new industrial parks: Doc Da Trang Industrial Park in Khanh Hoa Province, Song Cong II Industrial Park – Phase 2 in Thai Nguyen Province, and Tran Yen Industrial Park – Phase 1 in Yen Bai Province, adding approximately 839 hectares of industrial land.
Viglacera currently owns 16 industrial parks with a total land area exceeding 4,500 hectares
In the realm of real estate development, Viglacera embraced sustainability by investing in and operating the five-star Angsana Quan Lan Hotel & Resort. This resort was awarded the EDGE Advance green certificate by IFC – World Bank Group, even in the design phase.
Angsana Quan Lan Hotel & Resort, awarded the EDGE Advance green certificate by IFC – World Bank
Viglacera’s foray into developing urban areas, social housing, and worker accommodation leveraged its unique strengths, including extensive project development experience, a large customer base from industrial park investments, and a readily available source of construction materials. The social housing projects have created optimal living environments for residents, boasting well-invested technical infrastructure and comprehensive essential services and amenities.
In terms of building materials production, Viglacera remained committed to its goal of combining modern technology with eco-friendly products. Notable achievements include the successful production of vein-in-bone tiles using Continua+ technology, which reduces energy consumption by one-sixth compared to traditional methods in the large-format tile pressing process. Additionally, Viglacera has invested heavily in sanitary ware production technology, employing pressure bands for shaping and automatic robot glaze spraying in ceramic production, PVD surface protection technology for faucets, and international standards for antibacterial properties and water conservation.
Aiming for a 7% Increase in Consolidated Profit for 2025
Viglacera has set ambitious growth targets for 2025, with a consolidated revenue plan of VND 14,437 billion, a 21% increase from 2024, and a projected consolidated profit before tax of VND 1,743 billion, representing a 7% rise from the previous year’s performance.
In the first quarter of 2025, Viglacera recorded a consolidated revenue of VND 2,855 billion, an 8.2% increase year-over-year, and a profit before tax of VND 413 billion, corresponding to a 20% surge compared to the same period last year. Thus, in the first three months, VGC has accomplished 24% of its annual profit plan for 2025.
During the initial months of 2025, Viglacera also commenced construction on the CT3 social housing project in Thang Long Green City (Hanoi), the second phase of the Song Cong II Industrial Park in Thai Nguyen Province, and the Doc Da Trang Industrial Park in the Van Phong Economic Zone in Khanh Hoa Province.
Groundbreaking ceremony for the CT3 social housing project in Thang Long Green City (Kim Chung, Dong Anh, Hanoi)
Two Core Business Pillars: Sustainable and Directional Development
Currently, Viglacera manages and operates 16 industrial parks, totaling over 4,500 hectares of land. This number is set to increase as the company actively explores new project developments in various localities across the country, focusing on areas with high investment potential and business prospects.
In the realm of urban and housing development, Viglacera concentrates on social housing and worker accommodation in industrial parks, striving to create the best living environments for residents. The company leverages its strengths in project development experience, human resources, and material sources to offer the most competitive prices and highest quality.
Viglacera will provide integrated and synchronized bathroom solutions with superior quality products
In the building materials sector, Viglacera will continue to invest in technology to produce higher-end and more versatile products. The glass manufacturing and processing segment will undergo significant changes to align with market demands. Notably, the company will offer synchronized building material solutions, encompassing design and construction, catering to diverse real estate segments, from social housing to commercial properties.
With its new direction, Viglacera Joint Stock Corporation aims to become a powerful economic group in both the building materials and real estate sectors. The company is committed to transforming its operational governance towards a lean and specialized structure, ensuring efficiency and autonomy in each field while enhancing its strategic planning and performance monitoring capabilities at every management level. For 2025, Viglacera is determined to achieve a profit target of VND 1,743 billion, marking a 7% increase from the previous year.
The King of Fruits: Where Does Vietnam’s Durian Industry Stand?
The durian, a formidable fruit dubbed the “King of Fruits”, deserves a prestigious reputation that matches its unique flavor and aroma. To elevate this exquisite produce to the status of a national brand, a comprehensive overhaul of the production and export system is imperative. This includes stringent monitoring and punitive action against fraudulent practices and the use of prohibited substances. The Minister of Agriculture and Rural Development emphasizes the importance of commensurate investment to match the ambition of positioning durian as a strategic national product.
“Lawmakers Express Concern Over Social Housing Costs”
“During the ongoing National Assembly session, several delegates expressed deep concern over the rising trend of social housing prices, which are increasingly out of reach for the average income of the majority of workers.”
“Affordable Housing Remains an Elusive Dream for Many Workers”
“Access to social housing remains a challenge for workers due to difficulties in saving, limited supply, and complex procedures.”
“Ensuring Equal Access: The Prime Minister’s Meeting with Vingroup and Sungroup Leaders”
The Prime Minister has taken a firm stance against any manipulative practices in the real estate market. He has directed authorities to take stringent action against those who engage in price manipulation, speculation, market rigging, and profiteering, ensuring that such malicious activities are eradicated from the industry.
Streamlined Reform Proposal: Slashing Red Tape from 300 to 75 Days to Salvage Social Housing Plans
“The current process of selecting a social housing investor through a tender process takes an average of 300 days, a lengthy and cumbersome procedure. However, with the implementation of proposed reforms, this duration could be significantly reduced to just 75 days. This radical transformation will streamline the process, making it more efficient and accessible for all involved parties.”
