Surprise about the scale of Sovico Group of billionaire Nguyen Thi Phuong Thao

(Dan Tri) - Sovico's total assets are only behind Vingroup, Novaland and Hoa Phat.

Sovico Group Joint Stock Company (Sovico) has just announced its financial data for 2023. This multi-industry group was founded by billionaire Nguyen Thi Phuong Thao, operating in the fields of real estate, aviation, banking and finance, and energy. According to information from the Hanoi Stock Exchange (HNX), Sovico Group has a charter capital of VND 9,600 billion. The legal representative is Ms. Nguyen Thi Phuong Thao. In 2023, the company recorded a consolidated profit after tax of VND 1,406.3 billion, down 66.2% over the same period last year. In 2022, the company earned a profit of VND 4,155.8 billion. Thus, on average, each day in 2023, the group earned about VND 3.9 billion, while the previous year it earned more than VND 11.4 billion.

Sovico's equity will reach VND 67,412 billion by the end of 2023 (Source: HNX).

As of December 31, 2023, the company's equity reached VND 67,412.4 billion, almost unchanged from the end of 2022. Billionaire Phuong Thao's group uses low leverage. The debt-to-equity ratio as of December 31, 2023 was 1.78 times, slightly down from 1.81 times at the end of 2022. From the data provided, the debt payable as of December 31, 2023 is approximately VND 119,994 billion. The debt payable at the end of 2022 is VND 122,302 billion. The outstanding bond balance at the end of 2023 is VND 29,661 billion. The total assets of this enterprise recorded at the end of 2023 were VND 187,406 billion, down 1.3% compared to VND 189,872 billion at the end of 2022. Sovico's total assets are on par with many other multi-industry corporations listed on the stock exchange. Accordingly, the assets of this corporation are only behind Vingroup (stock code: VIC - VND 667,656 billion), Novaland (stock code: NVL - VND 241,486 billion) and Hoa Phat (stock code: HPG - VND 187,783 billion). Sovico is even larger than Masan and FPT in terms of total assets.

Sovico's total assets compared to other multi-industry corporations (Graphic: Moc An).

In terms of profit in 2023, Sovico is only slightly better than Novaland and inferior to many other giants. Due to the sharp decrease in profit, the company's return on equity (ROE) fell from 5.3% in 2022 to 2.1% in 2023. Billionaire Nguyen Thi Phuong Thao is currently the Standing Vice President of Ho Chi Minh City Development Joint Stock Commercial Bank (stock code: HDB), Chairwoman of the Board of Directors of Vietjet Aviation Joint Stock Company (stock code: VJC), Chairwoman of the Board of Directors of Sovico Holding Joint Stock Company (Sovico Holding), Chairwoman of the Board of Directors of Huong Duong Sunny Investment Company Limited, GalaxyOne, Vice Chairman of the Board of Directors of HD Saison Finance Company Limited. Ms. Thao owns assets of about 7,414.6 billion VND in HDB and VJC shares; representing Sovico, she owns 3,913.9 billion VND in HDB and 30,048.5 billion VND in VJC shares.

Dantri.com.vn

Source: https://dantri.com.vn/kinh-doanh/bat-ngo-ve-quy-mo-tap-doan-sovico-cua-ty-phu-nguyen-thi-phuong-thao-20240417171148651.htm