LIX detergent earns more than 2,400 billion VND from domestic market

The domestic market contributes VND 2,467 billion in net revenue to LIX detergent in 2024.

Cosmetic products of Lixco and other brands at a supermarket in Ho Chi Minh City - Photo: HONG PHUC

LIX Detergent Joint Stock Company (Lixco, HoSE: LIX) has just announced its business results for the fourth quarter of 2024.

Net revenue from domestic market is nearly 5 times larger than from foreign market

According to the report, the company recorded net revenue in the last quarter of 2024 reaching more than 703 billion VND.

During the period, cost of goods sold, operating expenses also decreased and financial interest and other profits increased.

The company reported a 35% increase in pre-tax profit in the fourth quarter of 2024 compared to the same period in 2023, reaching nearly VND 62 billion. This result is quite close to the plan recently adjusted by the company's management.

Specifically, in early November 2024, Lixco's board of directors approved the business plan for the fourth quarter of 2024 with a target of net revenue of VND 682 billion and pre-tax profit of VND 61 billion.

Accumulated for the whole year, the company achieved net revenue of VND 2,876 billion (four billion higher than the annual plan) and pre-tax profit of VND 256.5 billion (nearly 7% higher than the plan).

By region, the domestic market contributed VND2,467 billion in net revenue to Lixco while foreign markets brought in more than VND409 billion.

The predecessor of Lixco is Huan Huan Chemical Industry Company, a private company designed with Italian technology established in 1972.

After the conversion process, in 1978, the unit's factory was merged into Viso detergent factory.

Up to now, Lixco specializes in producing synthetic detergents and cosmetics such as washing powder, dishwashing liquid, laundry detergent, bleach... with a capacity of about 450,000 tons per year at three factories in Ho Chi Minh City, Binh Duong and Bac Ninh.

The company was equitized in 2003, before acquiring the detergent factory from Unilever Vietnam Joint Venture Company.

Currently, Vietnam Chemical Group (Vinachem) owns 51% of Lixco's capital.

Salary, bonus, remuneration of the Board of Directors of LIX Detergent - Photo: LIXCO.

Domestic brands do not have a solid foothold?

According to NETCO, a business in the same cosmetics and chemical industry as Lixco, the detergent and cleaning product market in recent years has never cooled down in terms of competition.

Domestic brands that have not yet established a solid foothold must compete with each other and with foreign brands. These competitors have extensive experience in multinational markets, strong financial resources, extensive advertising strategies and can create great promotions.

In Vietnam, laundry detergent is a product with a large market, popular from urban to rural areas. Therefore, both Vietnamese and foreign laundry detergent brands are caught up in fierce competition.

The "big guys" in the industry from multinational companies always have abundant financial resources and methodical marketing strategies, ready to "crush" their competitors. Meanwhile, the strength of Vietnamese enterprises lies in understanding the market and the psychology of domestic consumers.

They constantly innovate, create quality and affordable products, to maintain market share in the domestic market.

Source: https://tuoitre.vn/bot-giat-lix-thu-hon-2-400-ti-dong-tu-thi-truong-noi-dia-20250118232255867.htm