Casper Vietnam achieved after-tax profit of more than VND 33.27 billion, ROE ratio reached 5.9%, in the consolidated financial report in 2023.
The information is stated in the consolidated financial report just released at the end of March. Accordingly, by the end of 2023, Casper Vietnam's equity reached more than VND 567.5 billion - an increase of VND 36 billion (equivalent to 6.77%) compared to VND 531.5 billion in 2022. Liabilities decreased to VND 2,276 billion, compared to VND 3,253 billion in the same period in 2022. Correspondingly, the DAR index (liabilities/equity) also decreased to 4.01 compared to 6.12 the previous year. Outstanding bonds have decreased significantly from VND 295 billion at the end of 2022 to VND 100 billion at the end of 2023.
The company's total assets reached VND2,845 billion. Equity increased in line with 2023 profit. Last year's loss of VND470 billion turned into a profit of VND33.4 billion. ROE (profit after tax/equity) increased from minus 87.9% in 2022 to 5.9%. ROE shows the ability of a business to use equity effectively to generate profit, demonstrating competitiveness in the industry.
In the parent company's separate report, this year's after-tax profit reached VND66.9 billion, a large increase compared to the negative VND253.8 billion in the same period. The ROE ratio was 11.2%, an improvement compared to the negative figure of 47.61% in 2022.
According to the company, the company improves its operational efficiency through cost optimization measures. The strategy of providing products with reasonable prices, meeting the needs of the majority of users, along with high durability and excellent service helps the company attract more users. This helps increase output and sales, and reduce average inventory. Thanks to that, business results have improved significantly in the context of many economic difficulties.
The 2023 retail market report by an international market research company shows that Casper is the only brand with double-digit positive growth (23%) in a difficult market with negative or no growth.
Over the past year, Casper has recorded many changes. In May 2023, the company accounted for 21.6% of the air conditioning market share. By July 2023, the unit held 23% of the market share for the first time, leading the domestic civil air conditioning industry. This is the company's largest growth rate in the past year, surpassing long-standing brands in the market for three consecutive months (May, June, July 2023). In the three peak months, the output of air conditioners put on the market reached 350,000 units. For the whole year, the unit ranked second in terms of sales volume. There were times when the sales volume was about 20,000 air conditioners per day.
Production line inside the Casper factory. Photo: Phuong Nguyen
The company's leaders said that each year, Casper Vietnam delivers more than one million air conditioners, TVs, washer-dryers and refrigerators to consumers. In the TV industry, the company holds the top 5 position; front-loading washing machines have risen to the top 6 market share after more than two years of launch; Side by Side refrigerators have reached the top 4 market share. Casper is in the top 115 largest private enterprises in Vietnam in 2022, according to VNR 500.
The brand representative added that, for 8 years since its establishment, the company has continuously made efforts to research to understand the market, creating a series of products that meet the needs. The unit pursues the QSP (Quality - Service - Price) strategy including durable quality, superior service, competitive prices, creating opportunities to own a comfortable life for all Vietnamese users.
"We are also the only brand with an Inverter compressor warranty policy of up to 12 years, the highest on the market today," said the company's leader. The Thai brand focuses on core features that serve the practical needs of users, emphasizing energy saving, durability, and is ready to eliminate unnecessary frills.
The unit has achieved many prestigious certifications, a service system covering 63 provinces and cities with 150 warranty centers, and a price policy suitable for the majority of domestic users. Casper Vietnam's information connection network is currently deployed multi-dimensionally to the system of distributors, agents, technicians and consumers through a technology platform.
Users learn about Casper air conditioner products. Photo: Phuong Nguyen
Standing out in the process of operation, popularizing high-end products is a vision that has been realized over the years at Casper Vietnam. Each device launched integrates advanced technology, along with an accessible price. With air conditioners, with only 6 million VND, users can buy an energy-saving Inverter model. In other product lines such as washing machines, steam washing is a technology belonging to the high-end product group, but Casper introduces this feature from the basic product line. The company integrates soft freezing technology on refrigerators, mid-range TVs also have OLED imaging technology. Casper said that all products meet global quality standards.
In order to increase the convenience for users, the company has added the feature of registering and looking up product warranties online via the website. The company applies eCasper software, supporting checking product information, activating warranties, knowing the exact number of products delivered to consumers to balance the supply to distributors and agents, and finding ways to support the circulation of goods.
According to the company representative, this year the company continues its plan to popularize Inverter air conditioners at good prices. The development of the air conditioner industry has become a model for the company to continue expanding the market share of TVs, refrigerators, and washing machines.
Minh Tu
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