ANV Q1 2024 Business Results
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ANV Q1/2024 Business Results (Unit: Billion VND)
 Source: VietstockFinance
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Revenue
1,016.0 (-12.0%)
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Gross Profit
101.0 (-50%)
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Net Financial Income
5.2 (-42%)
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Net Income
17.0 (-82%)
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Key Highlights
Revenue decreased by 12% YoY to VND 1,016 billion, primarily driven by a decline in finished goods sales.
Gross profit margin narrowed to 10% from 18% in the same period last year.
Net financial income dropped by 42% due to a significant decline in interest income from time deposits.
Net income plunged by 82% to VND 17 billion, representing only 5.6% of the company’s annual target.
Total assets declined slightly by 1% to VND 5,062 billion as of March 31, 2024.
Liabilities decreased by 3% to VND 2,198 billion, with short-term borrowings and lease liabilities declining.
ANV’s stock price has witnessed a drop of over 4% YTD.
Outlook
ANV aims to achieve an eight-fold increase in net income for 2024 compared to 2023. However, the company faces challenges in executing this ambitious plan amidst declining revenues and margins.
Disclaimer:
This financial summary is based on publicly available information and should not be construed as investment advice.
