GELEX's electrical equipment manufacturing units focus on developing new products that are safe and environmentally friendly.
According to the recently released report, in the second quarter of 2024, GELEX Group recorded consolidated net revenue and consolidated pre-tax profit of VND 8,250 billion and VND 1,385 billion, respectively, up 3.2% and 59.2% over the same period.
Net revenue this quarter grew positively thanks to the recovery of the electrical equipment sector. This segment recorded VND5,222 billion in net revenue, up 42.2% over the same period and also the highest net revenue in the past 8 quarters.
According to GELEX, this result was achieved thanks to flexible sales policies and good inventory control in the context of fluctuating prices of key raw materials.
In particular, electrical equipment manufacturers such as CADIVI, CFT, THIBIDI, EMIC… have improved their production capacity; invested in machinery and equipment to improve efficiency and continuously researched and developed new products to meet market demand.
Meanwhile, pre-tax profit increased sharply after GELEX completed the transfer of 3/4 of renewable energy projects to partner Sembcorp in the second quarter.
Currently, the cooperation with Sembcorp - a leading corporation in the field of renewable energy from Singapore - helps GELEX maximize its potential, support each other to develop more strongly in the Vietnamese and international markets, opening up new opportunities in the future.
In the second quarter, the industrial park and real estate segment achieved VND788 billion in net revenue, down 36.5% compared to the previous quarter. The main reason was that the revenue from leasing industrial park infrastructure in the second quarter of 2024 decreased compared to the same period last year.
However, this is still a promising field in the coming period when Viglacera, a member unit of GELEX, has been approved for investment in Doc Da Trang Industrial Park (288ha) and Song Cong II Industrial Park (296ha). Previously, the unit also announced the Green and Smart Industrial Park - "Thuan Thanh Eco-Smart IP" in Bac Ninh province.
The remaining business segments of GELEX are also quite stable. Including: Infrastructure and utilities (including energy and clean water projects) and construction materials segment. Of which, the construction materials segment recorded 1,928 billion VND in net revenue, significantly recovering compared to the beginning of the year and expected to continue to improve in the last 2 quarters of the year.
According to the recently released financial report, in the first 6 months of the year, GELEX recorded consolidated net revenue of VND 14,910 billion, up 3.5% over the same period; consolidated pre-tax profit of VND 1,770 billion, up 74.6% over the same period.
In 2024, GELEX targets consolidated net revenue of VND 32,303 billion and consolidated pre-tax profit of VND 1,921 billion, up 7.7% and 37.5% respectively compared to 2023. Thus, by the end of the first half of the year, GELEX has achieved 46.2% of the revenue target and 92.1% of the profit target for the whole year of 2024.
At the end of the second quarter, GELEX had total assets at June 30 of VND52,442 billion, cash and cash equivalents at VND4,322 billion. Financial indicators and debt ratios improved more positively.
Source: https://tuoitre.vn/gelex-gan-ve-dich-loi-nhuan-ca-nam-2024-20240730085715784.htm
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