Robert Alan Willett has announced a stock transaction of an internal insider of Mobile World Investment Corporation (MWG-HOSE code).
Accordingly, Mr. Robert Alan Willett, a non-executive member of the MWG board of directors, has registered to sell 1.2 million MWG shares from February 27th to March 27th, 2024. The purpose is for personal financial needs.
The transaction method is through agreement or matching orders. If completed, Mr. Robert will reduce the number of shares held from 8 million to 6.8 million, equivalent to 0.466% of the charter capital.
Currently, MWG’s stock on the market has increased nearly 6% since the beginning of 2024. The current price of MWG is 45,300 dong per share. Based on this price, Mr. Robert Alan Willett could receive 5.4 billion dong if the transaction is completed.
In terms of business performance, MWG ended 2023 with a revenue of 118.28 trillion dong, a decrease of 11% compared to the previous year (133.4 trillion) and completed 88% of the target. After-tax profit was 167.8 billion dong, a decrease of 96% compared to the previous year (4,101.7 billion).
According to MWG’s Q4 2023 financial report, Mr. Robert Alan Willett had the highest income with over 2.25 billion dong; Mr. Dang Minh Luom – member of the board of directors received 686.25 million dong; Mr. Doan Van Hieu Em – member of the board of directors received 584.28 million dong; Mr. Nguyen Duc Tai – Chairman of the board of directors received over 230 million; Mr. Tran Huy Thanh Tung – member of the board of directors and CEO received the lowest with 164.58 million dong.
2024 Plan: MWG expects revenue to reach 125 trillion dong (+6% YoY) and after-tax profit to reach 2.4 trillion dong (14.3 times YoY, 59% after-tax profit in 2022). The revenue target is lower by 5% compared to VCSC’s forecast, while the after-tax profit target is higher by 8% compared to VCSC’s forecast.
In 2024, the company’s plans include (1) an improvement in the profit of TGDĐ (including TopZone) and ĐMX year-on-year, (2) BHX achieving net profit in 2024, and (3) An Khang and Avakid achieving breakeven by the end of the year.
MWG mainly focuses on optimizing costs, maintaining service quality to increase market share and achieve higher profitability, although demand may continue to be low in 2024.
VCSC’s viewpoint is that MWG’s above plan emphasizes profit growth in strong year-on-year chains. VCSC believes this is positive news supporting the sentiment for MWG stock. This is not the first time MWG has planned for BHX and An Khang to achieve breakeven in a year.
However, VCSC believes that BHX has the potential to achieve higher profit in 2024 than An Khang, as VCSC has seen that BHX has built a customer portfolio and stable fresh food supplier network, leading to sustainable monthly revenue/store growth despite the general difficulties of the economy. However, in its latest update report in November 2023, VCSC currently predicts that BHX will record a loss of 284 billion dong in 2024, although a detailed evaluation is still needed, as VCSC needs to monitor further steps in the cost control process of the company.
It is expected that MWG will hold the 2024 Annual General Meeting of Shareholders on April 12th and 13th at Building MWG, Plot T2-1.2, D1 Street, High-Tech Zone, Tan Phu Ward, Thu Duc City. The last registration date is March 4th, 2024.
