Speaking at the BGE Stock Trading Opening Ceremony, Mr. Ng Wee Siong Leonard - Chairman of BCG Energy shared: "This is an important milestone in our journey, symbolizing not only our development but also our commitment to contributing to shaping the future of the renewable energy market in Vietnam"
730 million BGE shares of BCG Energy officially listed on UPCoM on the morning of July 31, 2024
Mr. Ng Wee Siong Leonard - Chairman of the Board of Directors of BCG Energy Joint Stock Company spoke
“With this new milestone, as a public company, we are committed to maintaining the highest standards of corporate governance and transparency. Our commitment to these principles will ensure that we operate with integrity, maintain the trust of our shareholders, and create long-term value for all our stakeholders,” emphasized the Chairman of BCG Energy.
BCG Energy is a key member of the energy sector of Bamboo Capital Group (HoSE: BCG). The company was established in 2017, with a current charter capital of VND7,300 billion. Currently, BGE's total assets have reached VND20,000 billion, of which equity accounts for nearly VND10,000 billion.
In recent years, BGG Energy has continuously recorded impressive business growth results. In 2021, the company achieved revenue of VND 760 billion, in 2022, revenue grew strongly by 40% to VND 1,064 billion. In 2023, BCG Energy's net revenue increased by 5.8%, reaching more than VND 1,125 billion.
Mr. Pham Minh Tuan - General Director of BCG Energy received the Certificate of registration for trading BGE shares at Hanoi Stock Exchange (HNX).
In the first 6 months of 2024, BCG Energy's consolidated net revenue recorded VND 698.8 billion, an increase of 22% over the same period. Consolidated profit after tax reached VND 290.7 billion, a sharp increase of 33 times compared to the first half of 2023. The reason for the sudden increase in profit is that BCG Energy has effectively cut financial costs, especially interest expenses. In addition, BCG Energy's growth momentum is recorded from the solar power system with a total capacity of 600 MW, which is ranked in the Top 3 in Vietnam.
BCG Energy's capital structure has also improved significantly and gradually stabilized over the years. The debt-to-equity ratio has decreased from 1.9 times at the end of 2022 to only 0.99 as of June 30, 2024. In addition, the debt-to-equity ratio has also decreased from 1.25 at the end of 2022 to 0.64 as of June 30, 2024.
The debt ratio in total capital is increasingly controlled at a stable level over the years, showing that BCG Energy is maintaining financial leverage at a safe level, minimizing risks from the macro economy.
BCG Energy's renewable energy segment has become an important pillar, bringing in the largest revenue for Bamboo Capital Group today. Specifically, Bamboo Capital Group's cumulative revenue in the first 6 months of the year reached VND 2,100.3 billion, up 15.7% over the same period. BCG Energy's renewable energy segment contributed VND 698.8 billion to Bamboo Capital's revenue, equivalent to 32.8%.
BGE shares listed on UPCoM with reference price of 15,600 VND/share, capitalization reached 11,388 billion VND
BCG Energy currently owns a portfolio of nearly 1 GW approved under the Power Plan VIII with a vision for implementation until 2030. Notably, a series of large-scale wind power projects, including: Dong Thanh 1 wind power (80 MW), Dong Thanh 2 (120 MW) in Tra Vinh province; Khai Long 1 (100 MW) in Ca Mau will be deployed by BCG Energy this year and are expected to be put into operation in 2025. Once operational, these projects will help BCG Energy increase its total power generation capacity by about 53% and become the leading renewable energy enterprise in Vietnam.
Another notable highlight in BCG Energy’s business activities is the Company’s entry into the waste-to-energy sector. On July 20, Bamboo Capital Group and BCG Energy started construction of the Tam Sinh Nghia Waste-to-Energy Plant in Cu Chi, Ho Chi Minh City.
Phase 1 of the plant will be implemented from 2024 to 2025 with a total investment of VND 6,400 billion, a capacity to burn 2,000-2,600 tons of waste/day, a power generation capacity of 60MW, and an expected power output to the grid of up to 365 million kWh/year, meeting the electricity needs of about 100,000 households, while helping to reduce emissions of about 257,000 tons of CO2/year.
Phase 2 of the project is expected to be implemented from 2026-2027, with the waste incineration capacity increased to 6,000 tons/day and the power generation capacity up to 130MW, becoming the world's largest waste-to-energy plant. Phase 3 of the plant is expected to be implemented from 2027 to 2029, with the waste incineration capacity up to 8,600 tons/day and the power generation capacity reaching 200MW.
In parallel with the construction of the Tam Sinh Nghia Waste-to-Energy Plant in Ho Chi Minh City, BCG Energy will soon implement the Waste-to-Energy Plant project in Long An and Kien Giang. Expanding operations into the waste-to-energy sector is expected to be a step to expand BCG Energy's revenue scale, while contributing to the clean energy transition in Vietnam.
To meet the need to develop more large-scale energy projects, in addition to the ability to mobilize capital from banks and financial institutions, domestic and foreign partners. Listing on UPCoM will help BCG Energy more easily mobilize capital for potential energy projects that are about to be implemented.
With an impressive leap in profits in the first 6 months of 2024, a safe and stable financial leverage ratio, and many recently issued policies to support the renewable energy sector, BGE is likely to be one of the promising stocks leading the energy sector in the second half of 2024.
Source: https://www.congluan.vn/bcg-energy-bge-chao-san-upcom-voi-gia-15600-dong-co-phieu-von-hoa-dat-11388-ty-dong-post305669.html
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