Business results for the first quarter of fiscal year 2025: Coteccons recorded a winning bid value exceeding the 10,000 billion VND mark
Coteccons has just announced its first quarter report for fiscal year 2025, recording positive business growth results and winning bids for a series of large projects, contributing to affirming Coteccons' leading position in the Vietnamese construction industry.
Coteccons' fiscal year begins on July 1 and ends on June 30 of the following year. At the end of the first quarter of fiscal year 2025, Coteccons recorded impressive growth figures with revenue reaching VND4,759 billion, up 15.4%; gross profit reaching VND205 billion, up 105%; and profit after tax reaching VND93 billion, up 39.46% over the same period last year. In particular, gross profit margin increased by 1.89%, reaching 4.32%. This is the result of the strategy of focusing on projects with good profit margins and measures to improve operational efficiency in the past two years.
During the past period, the Debt Collection Department and the Risk Management Department have worked actively and effectively to reverse provisions and minimize concentration risks. This is also the first quarter that the Company has not made additional provisions for bad debts since 2020.
Continuously making an impression with a series of key projects in early fiscal year 2025
From the beginning of fiscal year 2025 to the present, Coteccons and Unicons have won bids for many large-scale projects in the fields of civil, industrial, and infrastructure, with a total value of up to 10,300 billion VND, creating a solid momentum for the Company to complete its production and business goals for the coming period. Notably, the repeat sales ratio/total number of winning projects is up to 69%, notably with a series of projects by Investor Sun Group; projects by Investor Ecopark Group; projects by Investor BWID...
Specifically, after successfully completing the basement of the Sun Ponte Residence project, marking the progress and quality that met the expectations of the Investor, Unicons was honored to take on the contract for the main part of the project. Previously, Unicons has been accompanying Sun Group in a series of major projects such as Premier Village Ha Long, Sailing Bay - Hon Thom, Kiss Bridge & Show Vortex and Sunset Village.
It is known that the Sun Ponte Residence project is located in a prime location of Da Nang city with a scale of 26 floors above ground, 3 technical floors with a total floor area of over 59,000 m2, in which the highlight in the architecture of the project is the connection between the 2 towers from the 4th floor and above, promising to become a new symbol on Tran Hung Dao street of the most livable city in Vietnam.
After the success of the Tay Ho View project in Hanoi and the Han River Tourist Service Area (including the basement and body), Coteccons continues to be trusted by the investor Sun Group to be the general contractor in a series of large-scale projects, including the Urban Area of the Era and Innovation (Ha Nam); Olalani Riverside Towers and the Multi-purpose Hotel, Tourism, Entertainment and Performance Complex in Da Nang; along with the MEP package for the East Apartment Area on Tran Hung Dao Street and the Han River Tourist Service Area, with a total contract value of up to thousands of billions of VND.
 |
| Mr. Nguyen Chi Thien - General Director of Coteccons Business Unit 2 spoke at the groundbreaking ceremony. |
The implementation of the above projects is a continuation of the strategic cooperation agreement signed by Coteccons – Unicons and Sun Group in September 2024. This agreement marks a long-term commitment between the two parties in the construction of many key projects across the country, strengthening the capacity of Coteccons – Unicons in leading large-scale and complex projects.
Following the success of the Yen Phong CN14.1 industrial development project at VSIP Bac Ninh, Coteccons continues to cooperate with BWID to implement the CN7 - CN8 project at Pho Noi A Industrial Park, Hung Yen. As a major FDI investor, BWID sets strict technical and quality standards, aiming to achieve LEED Gold standards upon project completion. With extensive experience in large-scale FDI industrial projects such as the LEGO, Pandora, and Suntory PepsiCo factories, Coteccons has demonstrated its ability to meet complex technical requirements and comply with international sustainability standards such as LEED Gold and LEED Platinum. The combination of technical expertise and commitment to sustainability criteria has helped Coteccons affirm its leading position in the field of industrial construction, becoming the preferred choice of international investors with high requirements for quality and sustainability of the project.
In addition, the Thuy Van Street Improvement Project of Vung Tau City People's Committee also marks the first achievement of Coteccons in the strategy of diversifying revenue sources from public investment. This is one of the key projects, receiving much attention and direction from authorities at all levels with the goal of "Developing Vung Tau City into a high-quality, international-class tourism center". Coteccons is proud to take on the role of General Contractor in this project.
Joining hands with a series of new investors
With extensive experience in the field of industrial factory construction, Unicons has surpassed many other contractors to win the bid for the Cheng Loong Binh Duong Paper factory project phase 3. In this project, Unicons will construct the G3 main power station and the wastewater treatment tank construction project in areas 1 and 2.
Most recently, Unicons held a groundbreaking ceremony for the Hung Ha General Hospital project with a scale of 18 floors above ground and 2 basements, including areas from inpatient, medical examination and treatment areas, administrative areas to professional buildings. Previously, Unicons had experience in undertaking large-scale hospital projects such as Vinmec Hospital, Hong Ngoc Hospital, Phenikaa University Hospital.
 |
| Groundbreaking ceremony of Hung Ha General Hospital project on October 11, 2024 |
“Coteccons – with the motto and slogan “Building Futures – Creating the future”, we not only build iconic buildings, timeless works but also want to create good values for the society – where Coteccons operates. And we also hope that each cooperation with Investors will be the beginning of the next projects, not only construction but also activities contributing to the community and society”, Mr. Vo Hoang Lam, General Director of Coteccons Business Unit 1 shared.
In addition, the first quarter of fiscal year 2025 also marked the cooperation between Coteccons and many other investors such as Capital Land at the Sycamore High-rise Project, lots B9, B10; Investor Phuong Thanh at the Park Royal Hanoi Hotel project; Investor KDI Holdings at the Champarama Resorts and Spa project; Investor Xingyu Vietnam at the Xingyu Vietnam Safety Technology Factory project, Investor Kita Group at the 360 Star Apartment project...
The “client-centric” strategy is one of the key factors that helps Coteccons differentiate itself in conquering new investors. With a deep focus on the needs and long-term goals of customers, Coteccons has built a flexible working process based on the Own It culture with a high level of decentralization for Project Directors, strengthening transparency and meeting strict requirements on progress, quality, and cost optimization. Understanding the specifics of each project and providing comprehensive solutions from design to construction has helped Coteccons become a reliable partner, thereby expanding market share and building trust from large and potential investors.
With remarkable achievements from the beginning of the year, Coteccons confidently enters the following quarters with solid potential and long-term vision, aiming for sustainable development and maintaining its pioneering position in the construction industry.
Comment (0)