Dinh Vu Port has just reported a profit after tax in the third quarter of 2024 of more than 128 billion VND, 2.5 times higher than the same period and the highest level ever.
The third quarter 2024 financial report of Dinh Vu Port Investment and Development Joint Stock Company (stock code: DVP) recorded net revenue of more than VND 178 billion, an increase of 24.4% over the same period. Gross profit for this period reached VND 76.4 billion, an increase of 33.2% over the same period in 2023. Gross profit margin accordingly improved from 40% to 42.8%.
Financial revenue increased fourfold over the same period, from over VND21 billion to nearly VND83 billion. As a result, although business management costs increased by 35% to VND20 billion, the company still reported pre-tax profit of VND143 billion, 2.2 times higher than the same period. After-tax profit also increased 2.5 times, to VND128 billion. This is the highest level since the company registered to trade on the stock exchange in 2009.
According to the management board, the third quarter profit increased sharply due to a 13% increase in goods passing through the port compared to the same period last year as well as the company receiving 70.4 billion VND in dividends from the joint venture company SITC Dinh Vu.
In the first 9 months of the year, Dinh Vu Port achieved net revenue of more than VND 520 billion, up 28.4% over the same period. Gross profit margin was more than VND 251 billion, gross profit margin reached 48.2%.
After deducting expenses, the company recorded pre-tax profit of VND325 billion and after-tax profit of VND274 billion, an insignificant difference compared to the same period last year.
This result helped the company complete 74.2% of the revenue target of VND700 billion and 94.2% of the pre-tax profit plan of VND345 billion approved at the annual shareholders' meeting.
At the time of announcing the production and business plan, the management board of Dinh Vu Port said that the company will transfer the projects that are in progress and have not been implemented in 2023 to 2024 with a total capital of 51.6 billion VND. New investment projects in 2024 are the warehouse investment project in Lach Huyen - Cat Hai area with a total investment of 1,824 billion VND, the project to renovate pier No. 1 and invest in 2 STS gantry cranes, the project to invest in 1 spare automatic crane frame for RTG gantry cranes (used for RTG01, 02, 03, 04 cranes)...
The company expects the 2024 dividend to be at least 50% of charter capital.
At the end of September, Dinh Vu Port had total assets of VND1,592 billion, a slight decrease compared to the beginning of the period. Short-term assets contributed an overwhelming proportion of 77.3%, equivalent to VND1,232 billion. Short-term financial investments accounted for the majority of this with VND1,098 billion, not much change compared to the beginning of the year.
The company has 165 billion VND in liabilities, down 36.5% compared to the beginning of the period. The entire debt structure of Dinh Vu Port is short-term. Owners' equity increased slightly compared to the beginning of the year, to 1,427 billion VND. Undistributed profit after tax is approximately 398 billion VND.
On the stock exchange, DVP shares are trading at VND75,000, down 9% from the historical peak recorded in June 2024 (VND82,200). The average matching order in the last 10 sessions is more than 12,000 units. With 40 million shares listed on the HoSE, the market capitalization reaches VND3,000 billion.
Source: https://baodautu.vn/cang-dinh-vu-lai-ky-luc-ke-tu-nam-2009-d227770.html
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