After audit, Vicem Ha Tien Cement (HT1) profit slightly decreased

Vicem Ha Tien's after-tax profit decreased slightly due to additional costs. However, compared to 2023, this profit still increased 3.3 times.

Vicem Ha Tien's after-tax profit decreased slightly due to additional costs. However, compared to 2023, this profit still increased 3.3 times.

Vicem Ha Tien Cement Joint Stock Company (HOSE: HT1) has just announced its audited financial report for 2024, showing net revenue of VND6,884 billion, unchanged from the previous self-prepared report. However, adjusted profit after tax decreased by 7%, from VND65 billion to VND60 billion.

The main reason is that the company must record additional packaging recycling costs as payable obligations for 2024 according to Circular 07/2025/TT-BTNMT, issued on February 28, 2025. This causes selling expenses to increase by 3%, bringing the total cost to VND 186 billion.

After auditing, Vicem Ha Tien's after-tax profit was adjusted down 7%, from 65 billion VND to 60 billion VND.

Compared to 2023, Vicem Ha Tien's net revenue decreased by 2%. However, its after-tax profit increased 3.3 times compared to the previous year's VND18 billion. This positive result comes from measures to cut operating costs, optimize production costs, and reduce loan interest rates and outstanding loans, helping the company save significantly on financial costs.

In addition, HT1 also recorded income from capital recovery fees for the project to build a road connecting Nguyen Duy Trinh Street to Phu Huu Industrial Park (Thu Duc City), contributing significantly to profits.

In 2024, Vicem Ha Tien aims to achieve more than VND23 billion in after-tax profit, an increase of 31% compared to the previous year. With the current actual results, the company has exceeded the annual plan by about 161%, reflecting the ability to effectively manage costs and maintain growth in a challenging market context.

In addition, HT1 has announced March 26, 2025 as the closing date for the list of shareholders to attend the 2025 Annual General Meeting of Shareholders, scheduled to be held on April 25 in Ho Chi Minh City. This will be an important occasion for the company to discuss strategic business plans in the coming time.

Vicem Ha Tien is currently one of the key projects that Vicem Ha Tien is supplying cement to, which is Long Thanh airport. According to Mr. Luu Dinh Cuong, General Director of Vicem Ha Tien, the company has participated in the main supply packages since the end of 2023, supplying cement directly or through intermediate stations. Up to now, Vicem Ha Tien has supplied about 60,000 tons of cement for this project, while the total expected demand for the entire project life cycle is estimated at about 850,000 - 900,000 tons.

For large projects in the southern region, Vicem Ha Tien often supplies 50% to 100% of total cement demand. If maintaining a minimum of 50%, the output supplied to Long Thanh airport could reach 450,000 tons.

However, Mr. Cuong also emphasized that the competition in supplying cement for this project is very fierce. The selling price of cement is only slightly higher than the production cost, putting pressure on profit margins. However, the company is still determined to participate in order to maintain its brand in the market, ensure consumption output and help the factory operate stably, optimizing fixed costs.

Source: https://baodautu.vn/sau-kiem-toan-loi-nhuan-xi-mang-vicem-ha-tien-ht1-giam-nhe-d256636.html