The above content was shared by Mr. Khuong Van Cuong, General Director of Deo Ca Group at the 2024 Annual General Meeting of Shareholders, held on the morning of June 26 in Ho Chi Minh City.
Mr. Khuong Van Cuong, General Director of Deo Ca Group, said that the unit will develop strongly in both scale and number of projects. Photo: BTC
According to Mr. Cuong, in 2023, Deo Ca Group recorded positive indicators with consolidated revenue reaching VND 6,622 billion, an increase of 50.5% compared to 2022.
Of which, revenue from services and construction reached VND 6,358 billion, revenue from financial activities reached VND 264 billion, up nearly 52% and over 22% respectively compared to 2022. Profit after tax reached VND 642 billion, up 53.22% compared to 2022.
As of December 31, 2023, Deo Ca Group's total assets reached more than VND 36,780 billion, charter capital of more than VND 4,206 billion. The unit has paid 2023 cash dividends at a rate of 4% of charter capital, equivalent to over VND 168.
In 2024, Deo Ca Group sets a production and business target with a consolidated revenue target of VND 8,956 billion, an increase of 35.25% compared to 2023. The target profit after tax is VND 733 billion, an increase of 14.17% over the same period.
Panorama of Deo Ca Group's shareholders' meeting. Photo: Organizing Committee.
Notably, in the first quarter of 2024, revenue reached VND 1,750 billion, an increase of 121.52% over the same period. Profit after tax reached VND 169 billion, an increase of 39.67% over the first quarter of 2023.
Regarding investment activities, Mr. Cuong said that the joint venture of Deo Ca Group has just completed the Cam Lam - Vinh Hao expressway with a total investment of more than VND 8,900 billion, put into operation at the end of April 2024.
Currently, the unit is implementing the Dong Dang - Tra Linh expressway project (phase 1) with a total investment of more than 14,300 billion VND (starting construction in January 2024) and the Huu Nghi - Chi Lang expressway with a total investment of more than 11,000 billion VND (starting construction in April 2024).
Deo Ca Group is researching and investing in many projects in Ho Chi Minh City such as Ring Road 4, Ho Chi Minh City - Chon Thanh.
The leader of Deo Ca Group stated that the goal of the Vietnamese Government is to complete 5,000km of expressway by 2030 and to develop Vietnam's railway transport, striving to complete the approval of the investment policy by 2025 and complete the entire North-South high-speed railway line before 2045.
With a huge potential for transport infrastructure development, Deo Ca Group firmly adheres to a focused growth strategy, defining specific goals for each short-term, medium-term and long-term period, and developing strongly in both scale and number of projects.
In particular, with investment activities, Deo Ca Group continues to research and invest in projects such as Tan Phu - Bao Loc, Ho Chi Minh City - Chon Thanh, Ring Road 4 through Binh Duong province, Ho Chi Minh City - Trung Luong - My Thuan (phase 2)... with a total investment of nearly 80,000 billion VND, and the Vietnam - Laos railway project, Vung Ang - Mu Gia section, worth more than 47,600 billion VND.
Regarding construction activities, Deo Ca continues to carry out a large volume of work on the North-South expressway phase 2 such as the Quang Ngai - Hoai Nhon expressway, with a total investment of more than 20,400 billion VND.
Along with that is the construction of the expressways Chi Thanh - Van Phong, Tuyen Quang - Ha Giang, Khanh Hoa - Buon Ma Thuot, Ho Chi Minh road section Chon Thanh - Duc Hoa, Ring Road 3 Ho Chi Minh City, Tan Van intersection, 2 routes connecting Long Thanh airport of the Long Thanh International Airport project, Khe Net railway tunnel of the Hanoi - Ho Chi Minh City railway line... with a total implementation value of nearly 15,000 billion VND.
Regarding operation management activities, with experience, modern and specialized machinery and equipment, in the coming time, Deo Ca will continue to bid to become the unit managing and operating the routes and tunnels through the mountains on the North-South Expressway, phase 2.
To participate in investing in nearly 400km of highways and railway projects in the context of limited resources, Deo Ca Group creatively used the PPP++ model to diversify capital sources, increase mobilization efficiency, and minimize risks throughout the project implementation process.
In which, P1++ is budget capital (including central budget capital and local budget capital), P2++ is equity capital of legitimate investors and secondary investors, P3++ is capital mobilized from credit institutions, business cooperation, bonds,...
In addition, human resources are an important factor in the sustainable development strategy of the enterprise. With the viewpoint that "People and culture are two things that cannot be borrowed", Deo Ca always focuses on training activities to improve professional capacity and corporate culture.
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