Maintain sustainable growth

The ranking is conducted annually by Nhip Cau Dau Tu Magazine and Thien Viet Securities Company based on measuring important growth indicators including revenue, return on equity and return on shares for 3 consecutive years.

01 PNJ A.jpg
PNJ ranked 9th in the top 50 most effective businesses in Vietnam, up 5 places compared to 2023. Photo: Hoang Ha

This is the 8th consecutive year that PNJ has been on this list as all indicators have improved significantly. Specifically, the average compound annual growth rate of revenue in the last 3 years (2021-2023) reached 24%; return on equity (ROE) reached 22% and the profit margin for investors reached 50%.

According to the representative of the organizing committee, PNJ is among the few listed enterprises that have maintained a sustainable growth streak and continuously appeared in the business efficiency rankings despite the constantly fluctuating economy, the "shaky" market and sudden changes in geopolitical factors.

"This result shows the unit's excellent management capacity, correct business strategy and quick adaptability," he said.

Mr. Le Tri Thong - Vice Chairman of the Board of Directors and General Director of PNJ, shared: “Effective business is one of the top factors that PNJ aims for, because this not only brings value to shareholders but also spreads benefits to employees and the community. We always prepare many business plans, from cautious to optimistic, from defensive to offensive, so as not to be passive in difficult market conditions as well as not to miss opportunities when favorable”.

2 PNJ.jpg
PNJ's brand value has increased 10 times in a decade, reaching 480 million USD this year. Photo: Hoang Ha

This year, the jewelry retail industry has been hit by a double blow and purchasing power has cooled significantly. However, PNJ is still on track for strong growth thanks to its flexible adjustment of business strategies in each phase.

Specifically, marketing and sales activities are deployed regularly and widely across the country, helping the company attract new customers and increase the rate of returning customers. PNJ also applies technology to collect data, analyze consumer trends and customer shopping behavior to create "tailor-made" products for each separate customer segment.

After the first 10 months of the year, PNJ recorded net revenue of VND 32,371 billion and profit after tax of VND 1,600 billion, up 22.7% and 4.4% respectively over the same period in 2023.

All business segments of the company recorded double-digit growth. Of which, retail recorded a 16.5% increase in sales compared to the same period, reaching more than VND18,250 billion thanks to the combined efforts of many factors such as expanding the store network, launching new collections and implementing creative marketing campaigns.

03 PNJ.jpg
The company “tailors” products for each customer segment. Photo: Hoang Ha

Furthermore, most investment funds and securities companies agree that the leading jewelry retail company will exceed this target by taking advantage of opportunities during the year-end shopping season.

Forecasted revenue of over 38,900 billion VND in 2025

Financial experts are also optimistic about PNJ's business performance next year, predicting that the company's market share will continue to improve thanks to expanding its customer base and increasing coverage by 30-35 new stores. The company's revenue in 2025 is forecast to be more than VND38,900 billion and net profit approximately VND2,500 billion, respectively, up 1% and 17.5% compared to this year's forecast.

Positive business results have helped PNJ stock become the focus of attention of domestic and foreign investors. PNJ's market price has increased by 16% since the beginning of the year, surpassing the 11% increase of VN-Index, bringing the market capitalization to over VND34,400 billion.

04 PNJ.jpg
PNJ continuously expands its store network, launches new collections and implements creative marketing campaigns. Photo: Hoang Ha

In addition, according to Brand Finance, PNJ's brand value has increased 10 times in a decade, reaching 480 million USD this year. The company's management expects the brand value to reach 1 billion USD in the next few years.

“To realize the goal of becoming the leading Lifestyle retailer in the region and at the same time becoming a brand that honors and beautifies people and life, we are constantly improving our multi-business ecosystem and launching many new business segments in the near future,” Mr. Thong shared.

Vinh Phu