Mr. Le Thanh Hung - General Director of VRG: "Green growth of the rubber industry accompanies the country into a new era"

Despite many difficulties in 2024, with the determination of the entire political system, the joint efforts and consensus of all employees, along with flexible and synchronous response solutions, VRG has successfully fulfilled its tasks; continued to develop stably and sustainably, preserving and developing State capital.

Mr. Le Thanh Hung - Deputy Secretary of the Party Committee, General Director of VRG presented awards at the Conference to summarize the Party building work, production and business activities, Trade Union and Youth Union work of the Group in 2024 and deploy directions and tasks for 2025, on December 19, 2024. Photo: Vu Phong

Estimated results of VRG's production and business performance in 2024, specifically: revenue of VND 26,307 billion, reaching 105.2% of the plan and increasing by 6.5% compared to the previous year; pre-tax profit of VND 4,450 billion, reaching 108.4% of the plan and increasing by 8.2% compared to the previous year; after-tax profit of VND 3,746 billion, reaching 109% of the plan and increasing by 11.1% compared to 2023; The Group's budget is expected to be 6,100 billion VND, 54% higher than the plan and 50.5% higher than in 2023. The Group's member units have maintained stable jobs for 81,013 employees, with an average income of more than 11 million VND/person/month, an increase of 4.9% compared to the income in 2023. Employee policies and regimes are implemented in a timely and secure manner.

Along with the task of economic development, VRG always focuses on caring for the lives of workers in all regions across the country, in remote areas, and ethnic minority areas. In particular, the Group does well in national defense and security, social security at home and abroad.

A highlight of 2024 is that the Group's stock (stock code: GVR) is the highest since its listing on the Vietnamese stock market in 2019, with the stock price on July 15 reaching VND 39,000/share; the market capitalization value is about VND 130,000 to 150,000 billion. In 2024, the Group's stock code GVR will continue to be on the list of 50 best listed companies in Vietnam voted by Forbes Magazine. In addition, the Group also ranked 13th in the top 43 enterprises with the largest market capitalization on the HOSE Stock Exchange.

Mr. Le Thanh Hung - Deputy Secretary of the Party Committee, General Director of VRG. Photo: Vu Phong

In 2025, VRG plans to achieve revenue and other income of VND 27,494 billion (4.5% higher than in 2024); pre-tax profit of VND 4,658 billion (4.7% higher than in 2024); after-tax profit of VND 3,929 billion (4.9% higher than in 2024). For the parent company - Group alone, revenue is VND 4,484 billion (4.6% higher than in 2024), pre-tax/after-tax profit is VND 1,746 billion (4.6% higher than in 2024).

Continue to develop the Group on the basis of 3 pillars: Economy - Environment - Society; effectively implement the green growth and sustainable development program, develop responsibly to society. Continue to enhance the role of enterprises in the process of developing agriculture, farmers and rural areas, including developing production combined with developing technical infrastructure, using ethnic minority workers, constantly increasing productivity and income of workers. Harmoniously combine economic development with the task of ensuring social security, political security and national defense security within the scope of the Group's production organization.

Focus on implementing the Group's growth drivers: Developing industrial parks and industrial clusters; developing clean energy; effectively developing large-scale agriculture applying modern technology and mechanization. Continue to coordinate with central ministries and localities to remove obstacles in investment implementation, land lease/use mechanisms, and effectively using the Group's value chain to maximize the Group's potential and resources.

VRG is expanding its 6th business line, renewable energy. The Group has established a Steering Committee and a Clean Energy Development Planning Implementation Team to review suitable areas for the development of clean energy sources and renewable energy to supply industrial parks and large energy users under the direct electricity purchase and sale mechanism and sell to Vietnam Electricity Group in an appropriate form in accordance with regulations. Promote activities related to social responsibility, environmental protection, enhance cleaner production solutions, reduce greenhouse gas emissions, use renewable energy, practice saving and aim for Net Zero.

Currently, there are 11 member units of the Group investing in commercial cooperation in the production of rooftop solar power at factories and company offices in the form of cooperation with investment partners, mainly both leasing roofs and purchasing electricity for use, with a total installed capacity of 11,204 KWp. The estimated solar power output in 2024 is 13 million KWh, bringing in revenue of 24 billion VND (equivalent to reducing 8,800 tons of CO2 emissions).

Promoting the achievements and the 96-year good traditional values ​​of the Vietnamese rubber industry, VRG is determined to implement breakthrough, innovative and creative solutions, striving to fulfill the highest targets and tasks of the Group in 2025 and the following years. Accompanying the country to enter a new era, the era of the Vietnamese people's rise.

With continuous innovation and development throughout its 96-year history, up to now, VRG is managing 115 companies (including 99 subsidiaries and 16 affiliated companies), of which 63 are rubber plantation companies, with a total area of ​​397,882 hectares of plantations managed by the Group (domestic 283,430 hectares, in Cambodia 87,772 hectares and in Laos 26,680 hectares), 10 wood processing companies, 6 industrial park companies, 11 industrial and service companies, 9 companies in other industries. Not only is the Group a strong economic sector of the country, it also plays an important role in ensuring national security and defense; making a significant contribution to the goal of building new rural areas; constantly improving the material and spiritual life of employees.

Source: https://vnrubbergroup.com/tin-tuc/Mr. Le Thanh Hung, President of VRG, said the rubber industry is growing green, and he is working hard to help at the water source.