Viglacera General Meeting of Shareholders 2022: VGC sets a consolidated profit plan of VND 1,700 billion

In 2022, Viglacera plans to achieve consolidated pre-tax profit of VND 1,700 billion, revenue of VND 15,000 billion, up 10% and 34% respectively compared to the implementation in 2021. 

On April 26, 2022, Viglacera Corporation - JSC (stock code VGC) held the Annual General Meeting of Shareholders in 2022. 

In 2022, Viglacera sets a plan for consolidated pre-tax profit to reach VND 1,700 billion, revenue of VND 15,000 billion, up 10% and 34% respectively compared to 2021. On the side of the Parent Company, the parent company sets a pre-tax profit target reached VND 1,200 billion, revenue reached 6,500 billion dong, up 4% and 17% respectively compared to 2021. It is expected to pay dividends in 2022 at the rate of 16% 

The Presidium of the Congress 

Regarding the investment and development plan in 2022, in the field of materials VGC focuses on implementing the investment project of Viglacera Eurotile tile factory into operation on schedule; Invested in the world's most modern production line to produce large porcelain plates using Continua+ technology of Sacmi (Italy); The Sanitary ware - faucet invests in-depth in automation technology, improves productivity and quality, reduces manual labor; Increase production and research and develop new products, synchronize product sets; Focusing on developing core technology, unique products with advanced technology. Viglacera Corporation continues to research and invest in Phu My Ultra-White Float Glass Factory Project, Phase 2, with a capacity of 900 tons/day. 

Mr. Nguyen Anh Tuan - Deputy General Director of the Corporation presented the report of the Board of Directors at the General Meeting 

For the real estate sector, VGC continues to invest in synchronous technical infrastructure in the industrial parks being deployed. Striving target in 2022-2023 The Corporation is preparing to invest and deploy new investment in about 2,000 hectares of industrial parks: Phu Ninh Industrial Park (Phu Tho), Dong Trieu Industrial Park (Quang Ninh), Tay Pho Yen Industrial Park (Thai Nguyen), the complex of Industrial Parks - Urban Areas - Services in Yen Bai…

In addition, Viglacera Corporation continues to develop social housing, worker housing with projects in Dong Van IV Industrial Park, Phu Ha, Yen Phong - Bac Ninh... and commercial housing, tourism resort. Plan 2022-2023 The Corporation prepares to invest and deploy a new investment of about 200 hectares in the housing sector. 

Mr. Tran Ngoc Anh - Deputy General Director of the Corporation, Member of the Board of Managements of the Corporation presented the Report of the Board of Managements at the General Meeting 

Mr. Tran Manh Huu - Head of the Supervisory Board of Corporation presented the Report of the Supervisory Board at the General Meeting 

Also in the meeting, the Corporation plans to submit a plan to increase charter capital and at the same time restructure the Corporation's capital ownership in member companies. Specifically, through the policy of establishing new joint stock companies to invest in new industrial parks and increasing capital ownership in Phu My Ultra-White Float Glass Co., Ltd. to 1,886 billion VND. In addition, VGC continued to increase / divest its charter capital, and at the same time restructure the Corporation's capital ownership in subsidiaries approved at the Annual General Meeting of Shareholders in 2021. 

The Presidium answered questions during the discussion session at the Congress 

Regarding business and production results in 2021, the parent company's revenue achieved 5,559 billion VND, reaching 111% of the plan assigned by the General Meeting of Shareholders, the Corporation - Joint Stock Company (consolidated) realized 11,194 billion VND, achieving 93% of the plan assigned by the General Meeting of Shareholders. In terms of pre-tax profit, the Parent Company reached VND 1,149 billion, the Corporation - Joint Stock Company (consolidated) reached VND 1,541 billion, up 53% and 54% respectively of the plan assigned by the General Meeting of Shareholders. With this result, the dividend payout ratio in 2021 is expected to be 15%, up 3% compared to the plan.

The Presidium gave flowers and acknowledged the contributions of Ms. Do Thi Phuong Lan over the past time, and congratulated the new member of the Board of Managements, Mr. Le Ba Tho, and the new member of the Supervisory Board, Ms. Nguyen Thi Tham. 

Updating the recent results of VGC, the revenue of the first quarter of 2022 of the Corporation reached 130% of the quarterly plan, achieved 22% of the whole year target and increased by 31% over the same period. In parallel with the increase in revenue, profit before tax of the Corporation in the first quarter reached 335% of the quarterly plan and completed 51% of the year plan. Compared to the same period in 2021, pre-tax profit increased by 538 billion dong 

Some more pictures at the congress