Binh Dien Fertilizer's 9-month profit is 3 times higher than the same period last year.

Accumulated for 9 months, Binh Dien Fertilizer recorded a sudden pre-tax profit, 3 times higher than the same period, up to 406 billion VND and far exceeding the profit plan of 210 billion VND set at the beginning of the year.

Accumulated for 9 months, Binh Dien Fertilizer recorded a sudden pre-tax profit, 3 times higher than the same period, up to 406 billion VND and far exceeding the profit plan of 210 billion VND set at the beginning of the year.

Binh Dien Fertilizer Joint Stock Company (stock code: BFC) announced its financial report for the third quarter of 2024 with net revenue reaching VND 2,031 billion, down 25% year-on-year. Gross profit decreased by 15% year-on-year to VND 290 billion. Gross profit margin reached more than 14%, up 2 percentage points year-on-year.

Financial revenue halved compared to the same period in 2023, down to VND4 billion. Financial and sales expenses were also cut, down 22% to VND20 billion and 30% to VND124 billion, respectively. Meanwhile, business management expenses increased 15% to VND67 billion.

The company reported pre-tax profit of approximately VND81 billion, down 7% year-on-year. Thanks to a sharp reduction in income tax, after-tax profit reached more than VND64 billion, up 10% year-on-year.

In the first 9 months, Binh Dien Fertilizer achieved net revenue of VND6,887 billion, up 8% over the same period. Of which, domestic revenue contributed more than VND5,757 billion. Gross profit during this period was about VND1,042 billion, nearly double the same period last year. Gross profit margin accordingly increased by 5 percentage points to 15%.

The company reported pre-tax profit of VND406 billion and after-tax profit of VND328 billion, respectively 3 times and 4 times higher than the same period.

This year, the company expects to achieve revenue of VND7,137 billion, down 17% compared to last year. In contrast, pre-tax profit increased by 7% over the same period, estimated at VND210 billion. The company also plans to pay dividends to shareholders of no less than 15%. After the first 3 quarters of the year, the company has completed 98% of its revenue target and exceeded 93% of its profit plan.

As of the end of the third quarter, the company's total assets were over VND3,656 billion, a slight increase compared to the beginning of the year. Inventory accounted for nearly VND1,600 billion in the company's asset structure. Liabilities increased slightly compared to VND 2,167 billion at the beginning of the period, to VND 2,208 billion, of which the majority were short-term items. Owner's equity reached VND 1,448 billion, undistributed profit after tax was approximately VND 390 billion.

On the HoSE, BFC shares closed the morning session on October 30 at VND40,000, down slightly from the reference price. However, compared to the price range at the beginning of the year (VND24,750), this code has increased by 61%. The matched volume in the last 10 sessions was over 500,000 units. Market capitalization reached VND2,341 billion.

In the last quarter of the year, Binh Dien Fertilizer targets production output of 111,148 tons and consumption output of 97,260 tons. Total revenue is expected to be over VND 1,246 billion and pre-tax profit of VND 35 billion.

Source: https://baodautu.vn/phan-bon-binh-dien-lai-9-thang-gap-3-lan-cung-ky-d228740.html