In particular, the bright spots in business results were recorded from the Electrical Equipment, Industrial Parks and Real Estate sectors. This is an impressive business result in the context of a challenging economy, showing that the enterprise has adapted well and optimized its core production and business activities.
GELEX's electrical equipment segment grew positively.
In the fourth quarter of 2024 alone, GELEX's net revenue reached VND10,142 billion, up 16.4% compared to the third quarter and up 25.1% over the same period thanks to good growth in all core business areas. This is also the highest quarterly revenue ever.
Gross profit in the fourth quarter of 2024 reached VND 2,410 billion, up 45.2% over the previous quarter and 108.1% over the same period, showing positive improvements in core business activities. For the whole year, gross profit was VND 6,766 billion, up 22.8% over the previous year.
Gross profit margin improved positively compared to the same period and the first quarters of the year thanks to the recovery of electrical equipment and construction materials.
Viglacera's green product ecosystem.
Recovering demand, improving selling prices and proactive regulation to increase efficiency in production, distribution and inventory activities help reduce costs effectively. For the whole year, gross profit margin is 20%, up nearly 2% compared to 2023.
Pre-tax profit in the fourth quarter of 2024 reached VND 1,346 billion. Pre-tax profit for the whole year reached VND 3,616 billion, up 158.8% over the previous year thanks to strong growth in core business activities in addition to financial profits from divestment of investments.
In particular, impressive growth comes from the electrical equipment business segment managed by GELEX Electric with product lines such as CADIVI electric cables, EMIC electrical measuring equipment, CFT copper wires... These are all prestigious brands in the market with many years of holding the number 1 market share in Vietnam.
Not only maintaining the domestic market with strategic products, GELEX's electrical equipment businesses also expand new product lines, increase customer base and gradually develop suitable foreign markets.
Industrial Centre Yen My – a project developed by GELEX and Frasers Property Vietnam.
In the field of construction materials, last year, GELEX's member unit Viglacera continued its strategy of "greening" products to actively contribute to the green transformation of the economy. Many products such as super white glass, sintered stone, Low E glass and Solar Control produced from energy-saving glass production lines or autoclaved aerated concrete have gradually conquered the market.
Among them, many products have been launched such as CADIVI fire-resistant and flame-retardant electric cables, fire prevention products, security and monitoring equipment, etc. These are all electrical equipment products with high intellectual content, environmentally friendly, serving the smart grid that GELEX is focusing on developing.
According to GELEX Electric's Financial Report, this year the electrical equipment sector recorded net revenue of VND 21,130 billion, pre-tax profit of VND 2,153 billion, becoming a sector with important contributions to the overall results of GELEX Group.
Industrial Centre Yen My – a project developed by GELEX and Frasers Property Vietnam.
The Industrial Park and Real Estate segment continues to maintain its appeal with quality capital flows. GELEX and its member units have elevated industrial parks to a new level by taking the lead in developing green, smart industrial parks to attract investment in high-tech industries and fields, environmentally friendly supporting industries, and creating high added value.
During the year, the new model of green and smart industrial parks was activated by Viglacera's member unit at Thuan Thanh Eco Smart IP, the 5-star resort hotel project (Angsana Quan Lan Ha Long) was put into operation. Viglacera also added 839.04 hectares of industrial park land when it was approved to invest in 3 more industrial parks: Doc Da Trang Industrial Park (Khanh Hoa province), Song Cong II Industrial Park (Thai Nguyen province) and Tran Yen Industrial Park (Yen Bai province).
In addition, GELEX and Frasers Property Vietnam have also started construction of four high-end industrial centers according to international green building standards, in line with the sustainable goals set by the Government.
In other areas such as Utility Infrastructure (energy and clean water projects), all are operated safely, stably and at optimal cost.
As of December 31, 2024, GELEX's total assets reached VND 53,803 billion. The solvency and debt ratios have both improved positively. The business efficiency ratios ROA and ROE have improved well.
GELEX brand value increased by 55%, ranked in the Top 10 companies with the largest brand value increase in Vietnam in 2024 and was ranked A by VIS Rating for credibility. GELEX image is bustling with many activities with partners such as Frasers Property Vietnam, Sembcorp Industries, FPT, GTEL...
GELEX also simultaneously implemented important strategic projects such as improving risk management capacity, deploying a centralized Human Resource Management system, promoting comprehensive digital transformation, standardizing information disclosure processes, and simultaneously disclosing in English from 2025...
With impressive business results and key projects being implemented, GELEX has been building a solid foundation for sustainable development in the investment fields of Electrical Equipment, Industrial Park Infrastructure, Banking and Finance and other new fields. In particular, GELEX will take corporate culture as the foundation, strengthen the risk management system, invest in human resources, and at the same time create a professional working environment, aiming at learning organizations and continuing responsibility to the community and society.
Source: https://baochinhphu.vn/gelex-nam-2024-loi-nhuan-can-moc-3616-ty-dong-102250125081128523.htm
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