Fortune South East Asia 500 affirms Coteccons' leading position
As a list of the top 500 largest companies in Southeast Asia, Fortune Southeast Asia screens companies through a rigorous process. The indexes are collected publicly and transparently through data provided by businesses to competent state agencies, and are re-verified by two third-party independent inspection organizations, Refinitiv and S&P Global Market Intelligence. The fact that Coteccons is the largest construction company in terms of scale, appearing on the list reaffirms its leading position in the Vietnamese construction industry. At the same time, it also affirms Coteccons' impressive business results and financial strength in a transparent manner.
In particular, this is the time when Coteccons is preparing to end its fiscal year on June 30, 2024, the current business growth trend shows that Coteccons' revenue is expected to exceed the 2024 target with an increase of more than VND 20,000 billion. With pioneering steps, Coteccons has made its mark with sustainable construction projects, typically the Pandora factory - Pandora's largest factory in Southeast Asia meeting LEEDs standards; Lego factory - Carbon neutral factory in Vietnam; Suntory Pepsi factory - The factory project applying the most modern green technology in the Asia - Pacific region; Logos project - Complex of warehouses, factories, high-quality offices for rent.
Sweet fruit for a steadfast vision of pioneering sustainable development in the construction industry
Chairman Bolat Duisenov shared: “This achievement clearly demonstrates the competence and dedication of the management team, recognized for the excellent leadership and efforts of all employees during the challenging period of the Covid-19 pandemic and the restructuring process of the company over the past years. We have significantly restored the growth rate of both the company's revenue and profits. Our perseverance has been rewarded with the excellent growth and success that we enjoy today. We would like to express our gratitude and appreciation to all employees and close partners who have worked together over the years.”
Coteccons recorded revenue by the end of the third quarter of 2024 of VND 14,400 billion, reaching 81% of the plan, and profit after tax of VND 240 billion, reaching 88% of the plan. In addition, other financial indicators also show positive and optimistic trends in growth on a tight financial and operational foundation. If the 2024 revenue plan of VND 20,400 billion is completed as proposed, Coteccons will have a compound growth rate (CAGR) for the 2023-2024 period estimated at 26.8%, showing that this is truly an impressive business growth in the context of the macro economy and the entire construction industry still facing many difficulties.
With a long-term vision, Coteccons has seen opportunities in 3 years of restructuring, while making sustainable construction the DNA of the enterprise. Coteccons has shifted the focus of its business strategy from a business dependent on the real estate industry cycle to a construction company that is at the forefront of the FDI wave in Vietnam. Revenue from Coteccons' industrial factory FDI segment in the first 9 months of 2024 increased by about 50%.
The risk management strategy using “Repeat Sales” continues to be effective, investors who have cooperated with Coteccons continue to assign projects for the next phase. The proof is that in just the first 9 months of the year, Coteccons has recorded winning a series of large contracts with a total value of more than 15,000 billion VND. This is a solid guarantee for an abundant source of work in the future.
With the desire to fulfill the mission of a pioneering enterprise “Industry Leader”, Coteccons is currently making constant efforts to connect partners and supporting enterprises to join in creating a green ecosystem. So that ESG can truly become a DNA of a leading construction contractor in Vietnam and aim for the position of “Industry Leader”.
Being listed in the Fortune 500 Southeast Asia list has affirmed the success of the “Coteccons Way” in promoting efforts on transparency and integrity to become an “Industry Leader” by creating safer, more comfortable and more meaningful spaces for everyone. This is the sweet fruit of the great efforts of all Coteccons employees.
Coteccons is committed to continuing to strive and innovate to bring the best value to shareholders, customers and the community. We are grateful for everyone's support and companionship over the years and look forward to new steps in the future.
About Coteccons:
Coteccons is a construction company with scale and financial strength in Vietnam, with a pioneering vision, this is also the leading unit in applying technology to develop the Vietnamese construction industry to be green, clean, civilized and transparent. With strong financial potential and transparent and honest working style, the company always aims to become the number 1 choice of customers, partners and employees through building safer, more comfortable and meaningful spaces for future development.
Comment (0)