GELEX exceeded 30% of its annual profit plan after 10 months

GELEX has achieved impressive business results after 10 months, with consolidated net revenue reaching VND 26,668 billion, equivalent to completing 83% of the annual revenue target. Consolidated pre-tax profit reached VND 2,558 billion, equivalent to 130% of the plan. The driving force for GELEX's recent net revenue growth has mainly come from the positive growth of the Electrical Equipment segment. Currently, this segment of GELEX Group is managed by its member unit GELEX Electric (stock code GEE - HoSE). Thanks to promoting and improving production and sales capacity, modernizing technology and applying modern management software, the business performance of the enterprise is increasingly positive. In addition, the expansion of new markets and export markets for electrical equipment products has also recorded positive results. Not only producing green and environmentally friendly electrical equipment, these units also cooperate in researching and developing new high-tech products, with initial positive results for fire prevention products, security equipment, monitoring equipment, etc. Next is the Industrial Park and Real Estate segment, through its member unit Viglacera, which is actively attracting quality capital flows. In the past year, Viglacera had 2 newly licensed industrial parks, 1 industrial park announced to develop according to green and smart criteria. Many other industrial parks are in the process of "starting up", striving to have 10 new industrial parks with an additional area of ​​2,000 to 3,000 hectares by 2025, in potential locations. Attracting FDI capital into Viglacera's industrial parks has grown steadily, although Viglacera has chosen a very challenging direction, which is to promote sustainable development for the environment. By the end of 2023, a total of 16 billion USD has been attracted to Viglacera's industrial parks, while at this time it has been 18 billion USD. The new trend of investment capital poured into Viglacera's industrial parks is characterized by quality capital sources, coming from enterprises considered "technology eagles" in the fields of electronics and high technology. Another attraction comes from the housing fund for workers and experts in industrial parks. The total area of ​​this type of housing will be invested by Viglacera up to nearly 190 hectares, approximately 6,700 apartments, invested synchronously with other facilities such as sports fields, flower gardens, kindergartens, medical stations... The recent announcement of VIS Rating - a credit rating organization according to Moody's standards, assessed GEX's scale as "very strong", reflecting its deep and solid presence in the market in core business areas, the diversity of products to serve market demand and the ability to maintain good relationships with suppliers and financial institutions. VIS Rating also rated GELEX's long-term issuer credit rating at A with a stable outlook. This is the first time VIS Rating has rated GELEX. Previously, Vietnam Report also announced that GELEX was in the Top 50 Most Profitable Enterprises in Vietnam 2024 for the 5th consecutive time. The enterprise was awarded for maintaining stable and sustainable business performance in the period 2023-2024. In addition, GELEX is also honored to be in the "TOP 100 Most Valuable Brands in Vietnam 2024" announced by Brand Finance and is one of the 10 brands with the largest brand value growth rate in 2024 with a growth rate of up to 55%. Source: https://nhandan.vn/gelex-vuot-30-ke-hoach-loi-nhuan-nam-sau-10-thang-post845076.html