Q1 Business Results of Rubber Company RTB in 2017-2024 Period
| RTB’s Q1 Business Results from 2017-2024 |
In Q1/2024, RTB achieved revenue of nearly 285 billion VND, a 66% increase year-over-year, primarily driven by a surge in sales of raw and semi-finished rubber products. Gross profit increased five-fold compared to the same period last year, and the gross profit margin improved significantly by 22.1 percentage points to 34.6%. Consequently, RTB’s net income jumped by 76% to nearly 110 billion VND.
According to RTB’s explanation, the company’s rubber production and trading activities performed exceptionally well, with rubber consumption increasing by 2,200 tons and rubber prices rising by 5 million VND per ton. Regarding expenses, the cost of rubber goods sold decreased due to cost savings of over 3.2 million VND per ton.
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RTB’s Q1 2024 Business Results
Unit: Billion VND
Source: VietstockFinance
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As of March 31, 2024, RTB’s total assets amounted to approximately 2,900 billion VND, marking a 6% increase since the beginning of the year. Notably, tangible fixed assets accounted for 67%, primarily comprising the value of perennial rubber plantations and buildings.
Regarding its capital structure, RTB’s borrowings decreased by 3% to nearly 210 billion VND, mainly due to a reduction in outstanding loans from Saigon – Hanoi Commercial Joint Stock Bank’s Phnom Penh branch.
