The first steel company announces its operating results for the fourth quarter of 2023

According to Dong Yi

Investing.com – VICASA Steel Joint Stock Company (HM:) announced its financial statements for the third quarter of 2023, with revenue of VND 470 billion, a slight decrease of 6% from the same period last year. The business’s gross profit was VND 13.3 billion, a decrease of 37.2% from the fourth quarter of 2022.

The company has almost no financial revenue. Selling expenses and business administrative expenses dropped significantly compared with the previous year, reaching VND1.3 and VND3.4 billion respectively. At the same time, selling expenses increased by nearly 10% to VND3.9 billion.

As a result, Vicasa – VNSteel’s pre-tax profit was VND 4.5 billion, a decrease of 35.7% compared to the same period last year. Profit after tax reached VND3.6 billion, a decrease of 45%. EPS fell from VND 423 to VND 238. At this point, the company turned a profit after losing money in the third quarter of 2023.

For the full year of 2023, Vicasa – VNSteel’s cumulative revenue was VND 1,724 billion, a decrease of 26.2% compared to the same period last year. After deducting expenses, the company’s profit exceeded VND7 billion, compared with a loss of nearly VND6 billion in 2022. However, the business has still not achieved the set profit target of VND12 billion.

As of December 31, 2023, Vicasa-VNsteel’s total assets reached VND 573.5 billion, a decrease of VND 5 billion from the beginning of the year. In particular, most of the assets of this business are inventories, which amounted to VND396.7 billion, an increase of 12% from the beginning of the year.

The company’s financial debt was VND210 billion, down 13.2%. The share capital reaches 249.4 billion VND, of which registered capital is 151.8 billion VND and after-tax undistributed profit is 62 billion VND.

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