On the morning of January 15, 2025, Viglacera Corporation - JSC held a Conference to evaluate the results of the implementation of the 2024 production and business plan and deploy the 2025 plan tasks. Deputy Minister of Construction Bui Xuan Dung and many leaders of agencies under the Ministry attended, shared the joy and witnessed the moment when the Viglacera team shook hands to receive the 2025 new year plan tasks.
The year 2025 comes to Viglacera in the context that the entire Corporation has just overcome 2024 with many difficulties and challenges to exceed the profit target assigned by the General Meeting of Shareholders (GMS). Briefly speaking about the difficulties experienced as well as the 2025 plan, Viglacera General Director Nguyen Anh Tuan concluded: The first 9 months of 2024 was an extremely difficult time, but we have made every effort to overcome it. What is necessary now is to see and immediately seize the new opportunities of 2025 that are appearing in the market to quickly enter the market with high determination, along with careful and careful calculations.
Mr. Nguyen Duc Luyen - Director of the Corporation's Investment Planning Department presented the 2024 Work Summary Report and 2025 Plan.
In the Official Report to the entire Conference, Mr. Nguyen Duc Luyen - Director of the Corporation's Planning and Investment Department also affirmed: Thanks to proactively and making efforts to overcome all challenges and complicated developments in the global political and economic context, fierce competition in both domestic and export markets, and increasing trade barriers, Viglacera has responded flexibly, closely following market movements. Estimated results: Consolidated pre-tax profit of the whole Corporation reached 1,625 billion VND, exceeding 46% of the target set by the General Meeting of Shareholders. Consolidated pre-tax profit of the parent company reached 1,475 billion VND, exceeding 34% of the annual plan. Consolidated revenue of the whole Corporation is estimated at 11,925 billion VND.
Estimated pre-tax profit of the real estate business segment reached VND1,943 billion, of which profit from industrial park business reached VND1,361 billion, accounting for 70% of total profit of the real estate business segment. The construction materials sector also prospered when the ceramic tile and autoclaved aerated concrete groups this year both exceeded the plan, exceeding 153% and 466% of the profit plan, respectively.
In 2024, Viglacera maintained stable growth, becoming the most profitable enterprise among the 6 enterprises with capital from the Ministry of Construction.
The entire Report clearly shows a series of continuous management activities, from the work of building and assigning plans at the beginning of the year to monitoring market developments to always have appropriate and flexible management and business policies.
Solutions to improve labor productivity through the application of scientific and technological advances, technical innovations, mechanization and automation to reduce production costs are considered the main "key" to simultaneously solve two problems: "Bottleneck" of input cost fluctuations and the path to sustainable development.
Vasta Stone branded terracotta stone – PVD coated shower heads – high pressure tape application in sanitary ware production – are typical achievements in construction materials production – in 2024 – of Viglacera
In 2024, many achievements in production, business and investment development have been made. In the production of construction materials, there have been successes in the production of sintered stone, innovation in the production of sanitary ceramics with pressure forming tape, and the application of PVD coating technology - the most modern surface coating solution today - to the production of shower faucets. The green and synchronous construction materials ecosystem for all projects has been widely announced by Viglacera to the entire market, thereby leading a civilized trend from production to consumption.
The inauguration of Angsana Quan Lan Ha Long Bay Hotel & Resort has added a valuable asset to Viglacera's assets, while opening a new direction for green economic development.
In real estate investment and business: A new model of green and smart industrial parks was activated by Viglacera at Thuan Thanh Eco Smart IP, a 5-star resort hotel project (Angsana Quan Lan Ha Long) was put into operation in the island area considered the new marine economic center of Quang Ninh province. Not only that, also in 2024 - the context of the real estate market still has many difficulties - Viglacera still added to its land fund an additional 839.04 hectares of industrial park land through the Government's approval of the investment policy for 3 more industrial parks, respectively Doc Da Trang Industrial Park (Khanh Hoa province), Song Cong II Industrial Park (Song Cong City - Thai Nguyen province) and Tran Yen Industrial Park (Tran Yen district - Yen Bai province).
Regarding market development and building a business network, in 2024, Viglacera focused resources on expanding the market to regions; consolidating and developing the system of agents and stores. Along with that is the strategy of developing the brand positioning of the Corporation.
In terms of management depth, a series of areas from financial management to control work are enhanced, in accordance with the public company model as well as the domestic and international socio-economic situation.
All these efforts have led to serious and strict capital management, bringing optimal efficiency: The parent company's pre-tax profit margin on revenue is estimated at 38%; The parent company's total assets as of December 31, 2024 are estimated at over VND 16,000 billion, of which equity is about VND 7,900 billion, an increase of about VND 500 billion compared to the beginning of the year.
Deputy Minister of Construction Bui Xuan Dung noted that new policy mechanisms will be implemented, leading to situations that have a strong impact on the market as well as the production and business activities of the Corporation.
Encouraging the achievements of Viglacera Corporation in 2024, right in the first words of his speech to all enterprises under Viglacera, Deputy Minister of Construction Bui Xuan Dung highly appreciated the above results. The Deputy Minister emphasized a number of points that Viglacera needs to proactively plan to respond to, such as: The valuation and divestment plan will be completed by the end of 2025; New opportunities and challenges will appear when a series of laws related to construction and real estate business have had enough time to "permeate" into market developments; Maximizing experience in searching for and investing in new industrial park real estate business along with starting construction of new industrial parks of the Corporation according to the set plan; Promoting investment in social housing and workers' housing. Regarding the strategy of exporting green construction materials that Viglacera always aims for, Deputy Minister Bui Xuan Dung noted that unprecedented challenges will arise when the Carbon Credit Exchange is launched in 2028 and related laws are implemented for the first time in Vietnam. Accordingly, Viglacera needs to have a process of applying science and technology, reducing CO2 emissions at construction material factories to serve as a basis for future export competition activities.
Mr. Nguyen Van Tuan - Chairman of the Board of Directors of Viglacera Corporation gave a speech at the Conference, with sustainable development orientations for Viglacera.
Speaking in response to the deep concern and close instructions of Deputy Minister Bui Xuan Dung, Chairman of the Board of Directors of Viglacera Corporation - Mr. Nguyen Van Tuan expressed his respect, acceptance and said that he would immediately direct the addition to the 2025 plan tasks. For the entire business sector of the Corporation, Chairman Nguyen Van Tuan said that Viglacera is showing its ability to adapt very quickly to market fluctuations. In 2025, Viglacera will invite strategic consultants to start researching and shaping the necessary steps for Viglacera in the future. Restructuring activities for the enterprise to develop sustainably and go further will be carried out. Digitalization and promoting governance with modern technology will continue to have new steps. Regarding real estate, it will focus on areas that are Viglacera's strengths such as investment in developing industrial park infrastructure, commercial real estate and social housing. Investing in Cuba is considered an important task with goals such as preserving capital and promoting investment in biotechnology factories by 2025.
Mr. Nguyen Anh Tuan - General Director of Viglacera Corporation directed the system of member enterprises: In 2025, all enterprises in the Corporation must strive to exceed the plan, along with the task of restructuring enterprises and divesting capital in accordance with the set policy.
Viglacera General Director Nguyen Anh Tuan said that immediately after the Board of Directors approves the production and business plan, the Corporation's leaders will assign plans to each group of enterprises and each member company. General Director Nguyen Anh Tuan also pointed out that in 2025, the market situation is likely to change for the better, because new laws, decrees, and new policies have come into effect in a positive way. Thus, both the real estate and construction materials sectors will have the opportunity to change.
Implementing the direction of the Chairman of the Board of Directors and General Director of the Corporation, enterprises in the two real estate and construction materials sectors have concretized by signing sales agreements, through Cooperation Contracts, in which the responsibilities of both production units and business units are specified.
The emulation and reward activities were also conducted according to the ceremony. Accordingly, 10 enterprises that exceeded the profit targets assigned by the General Meeting of Shareholders were honored.
The Board of Directors of the Corporation rewards units that have made efforts to overcome market challenges and complete the 2024 profit target assigned by the General Meeting of Shareholders.
Chairman of the Corporation’s Trade Union – Mr. Nguyen Quy Tuan affirmed that Viglacera is always at the forefront of taking care of its employees. This coincides with the comment of Deputy Minister of Construction Bui Xuan Dung in his previous speech: “Viglacera is an enterprise with an average salary that is not only high among enterprises under the Ministry, but also high compared to the average income of the whole country in the current economic context. Not only that, the annual dividend payment to shareholders is also very good.
Viglacera has established the image of a resilient enterprise overcoming the difficulties of 2024. There are still many challenges ahead. But the Viglacera team is ready to welcome the new year 2025, ready to take on new tasks from the Corporation's leaders, ready to promptly grasp the bright spots in investment and development. There is a brave and confident Viglacera, entering 2025 with careful preparation and a ready-to-enter mindset, ready to write new pages.
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