Yeah1's profit is 11 times higher than the same period last year.

Yeah1's after-tax profit in the third quarter reached more than 34 billion VND, 11 times higher than the same period last year and the highest quarterly profit in more than 2 years.

The financial report of Yeah1 Group Joint Stock Company (stock code: YEG) recorded net revenue in the third quarter of 2024 reaching VND 345 billion, more than 3 times higher than the same period. Gross profit was more than VND 79 billion, 3.6 times higher than the same period last year. Gross profit margin accordingly increased from 20% to 23%.

Financial, sales and administrative expenses all increased compared to the same period last year. Specifically, financial expenses increased by 37% to about VND10 billion, sales expenses increased by 75% to more than VND7 billion and administrative expenses increased by 2.5 times to more than VND39 billion.

After deducting expenses, the company reported a profit after tax of more than VND34 billion, nearly 11 times higher than VND3.2 billion in the same period last year. This is the company's highest quarterly profit since the first quarter of 2022.

Accumulated in 9 months, Yeah1 recorded net revenue of 629 billion VND, 2.5 times higher than the same period in 2023. Of which, advertising and media consulting activities contributed 560 billion VND, the rest came from content copyright and service provision, e-commerce. Gross profit in this period was approximately 111 billion VND, double the same period last year. Gross profit margin reached 17.5%, down 4.5 percentage points compared to the same period.

Financial revenue reached VND101 billion, more than 3 times higher than the same period last year. Of which, profit from divesting subsidiaries contributed about VND60 billion, interest on deposits was more than VND21 billion. Yeah1 reported pre-tax profit of more than VND59 billion and after-tax profit of about VND56 billion, respectively 7 times and 4.5 times higher than the same period last year.

According to the management, thanks to the strong growth in revenue from advertising and media consulting compared to the same period last year, gross profit and profit after tax fluctuated strongly. In the third quarter alone, the growth momentum came from advertising revenue, media consulting and content copyright.

This year, Yeah1 aims for revenue of VND800-1,100 billion, an increase of 94-167% compared to 2023. The company expects after-tax profit of VND65-105 billion, an increase of more than 145-296% compared to last year. After the first 3 quarters of the year, the producer of "Anh trai vu ngan cong gai" has completed 57-79% of the revenue plan and 53-86% of the profit target.

At the annual meeting held in May, answering a shareholder's question about whether increasing charter capital could reduce profitability, Ms. Le Phuong Thao, Chairwoman of the Board of Directors, said that 2023-2024 is the golden period to invest in basic resources such as people, studios, technology... to serve the high-quality content production sector.

She believes this is the right direction when most competitors in the industry have not focused on investing in the foundation but only on individual projects . In the future, when the economy recovers , the above preparations will help the company record high profits, thereby improving profitability and bringing great value to shareholders.

As of the end of the third quarter, Yeah1's total assets reached VND2,423 billion, an increase of VND563 billion compared to the beginning of the year. The company has nearly VND1,231 billion in short-term assets, including a newly-arrived receivable from Google Asia of more than VND82 billion.

The company recorded total liabilities of more than VND988 billion, more than double that at the beginning of the year. Short-term loans accounted for the largest proportion in the company's debt structure with approximately VND500 billion. Owners' equity currently reached VND1,435 billion, a slight increase compared to the beginning of the period.

On the stock exchange, YEG shares have decreased by 18% compared to the price at the beginning of the year, down to VND9,700. The average matched volume in the last 10 sessions is approximately 1.6 million units. The company's market capitalization is about VND1,329 billion.

Source: https://baodautu.vn/yeah1-lai-gap-11-lan-cung-ky-d228457.html