Biwase Shareholders' Meeting: Plan to earn a minimum profit of VND 700 billion in 2024
On the morning of March 25, Binh Duong Water and Environment Corporation (Biwase, code BWE - HoSE) held the 2024 Annual General Meeting of Shareholders.
Speaking at the 2024 Annual General Meeting of Shareholders, Mr. Tran Chien Cong, General Director of Biwase, said that in 2023, the Company will focus on expanding the scope of water supply and enhancing customer service, resulting in significant growth in domestic water consumption compared to the same period, especially focusing on putting the phase 4 compost factory into operation, increasing the total capacity to 2,520 tons/year and ending landfilling.
At the same time, in 2023, Biwase will officially successfully operate the combined earth furnace project with safe and stable power generation of 5 MW.
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| Mr. Tran Chien Cong, General Director of Biwase. Photo by Le Toan |
Regarding the economic situation, Mr. Tran Chien Cong said that in 2023, the economy continued to be affected after the Covid-19 pandemic, the socio-economic development situation of Binh Duong province also encountered many difficulties, some businesses stopped or operated at a low level, causing the output of water consumed for production and business and waste to decrease somewhat, the price of input materials increased while the unit price of supplied products was not adjusted appropriately and promptly, which also affected business results.
Regarding business results in 2023, for water production and business, at the end of the fiscal year, Biwase recorded water production revenue of VND 2,307 billion, an increase of 1.45% over the same period. Of which, water consumption increased by 1.28%, to 183.6 million m3; water loss rate continued to be 5%; total investment value of pipeline and distribution pipe works using development investment capital was VND 91.6 billion; and in 2023, the Company connected 18,997 more water customers, bringing the total number of connected customers to 372,177.
Regarding waste collection, transportation and treatment activities, in 2023, the revenue of this sector recorded 908 billion VND. Of which, the number of new customers in 2023 increased by 182 customers, bringing the total number of customers to 2,781 customers; the volume of waste received in 2023 reached more than 932,000 tons.
Regarding wastewater collection and treatment activities, in 2023, revenue reached 114 billion VND. Of which, the Company has developed a total of 27,067 wastewater connection customers.
Entering 2024, Biwase plans to have revenue of VND 4,100 billion, an increase of 3.1% over the same period, expected profit after tax of at least VND 700 billion, an increase of at least 16.5% compared to the implementation in 2023, expected cash dividend of 13% and the whole Company's water loss rate of 5% or less.
In the water supply sector, Biwase continues to invest in the transmission and distribution pipeline network to remote areas, developing customer connection work to provide clean water to consumers to maximize the capacity of existing projects.
In particular, the Company focuses on accelerating investment in expanding Chon Thanh water plant, increasing capacity by about 30,000 m3/day and night; expanding the water supply network in Bau Bang, Phu Giao, Dau Tieng, Tan Uyen, Chon Thanh - Binh Phuoc areas; investing in improving facilities, increasing capacity of Nhi Thanh water plant by 60,000 m3/day and night...
In the field of waste treatment, increase collection and treatment of all received waste, promote waste treatment capacity of waste treatment line into organic fertilizer with capacity of 840 tons/day, waste incinerator with capacity of 200 tons/day combined with 5 MW power generation.
In addition, investing in a 500-ton/day incinerator combined with a 12MW power generation; speeding up the progress of compensation, support, and site clearance of about 400 hectares to serve the construction of a solid waste treatment complex in Tan Long commune, Phu Giao district, Binh Duong province.
In the field of wastewater collection and treatment, the Company will complete the approval of the unit price plan for domestic wastewater drainage services; strengthen customer connection work and perfect related mechanisms and policies in the field of wastewater treatment.
“Biwase continues to implement its investment and development plans well, ensuring the supply of clean water in the provinces where the Company invests such as Dong Nai, Binh Phuoc, Can Tho, Long An, Quang Binh, Vinh Long; ensuring safe water supply, clean and safe environment for investors, ensuring that water loss levels are maintained or lower than current levels; improving business efficiency in the purchased companies,” Mr. Tran Chien Cong emphasized the Company’s business strategy in the coming time.
Investment Electronic Newspaper - Baodautu.vn continues to update information on Biwase's 2024 Annual General Meeting of Shareholders.
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