By the end of 2023, GELEX’s consolidated production and business results will reach VND 29,998 billion in consolidated net revenue, reaching 80% of the plan. Consolidated pre-tax profit is estimated at 1,398 billion VND, 10% higher than the plan approved by the General Meeting of Shareholders. In particular, the bright spot in business results was recorded for the Real Estate segment; The Electrical Equipment segment also recorded positive results in a difficult market context.
In terms of business segments, for the production and trading of electrical equipment and construction materials, GELEX orients its units to maintain market share in the domestic market with strategic products, while gradually developing Expand into appropriate foreign markets.
The year 2023 recorded flexibility in implementing market expansion in accordance with the actual situation in the electrical equipment segment. Most member units of the electrical equipment sector have taken the opportunity to seek new domestic and export customers to maintain market share while balancing profits/revenues and controlling inventory well. warehouse and debt.
Units in the system also promote research and development of new products, optimize production, respond to new market needs, aim for “green” products and optimize energy solutions. quantity.
In November 2023, the first square meters of Viglacera ultra-white glass produced at the Phu My ultra-white float glass factory were released and introduced to the market.
These include: Super white glass products, Sintered stone. Viglacera’s Autoclaved Aerated Concrete (AAC) products are starting to gain a foothold in the market; CADIVI has also produced and brought into commerce a number of new products with superior features and are environmentally friendly… In addition, the units have also come up with many solutions to improve production and business efficiency. joint.
For the electricity and clean water business, solar power plants, hydroelectric plants and clean water plants are operated safely, optimizing costs and controlling risks…
Meanwhile, in the real estate business, GELEX promotes existing advantages to actively and effectively deploy investment preparation and compensation activities, especially sales promotion and industrial park leasing. industry, bringing high efficiency to the real estate sector. At the same time, continue to develop new industrial park projects in localities with advantages in land, transportation infrastructure, power and water sources and investment attraction policies; Social housing projects, worker housing…
Notably, through cooperation with partner Fraser Property, GELEX increases the value chain, improves service quality, increases utilities, in order to improve business efficiency and maximize the efficiency of land fund to Deploying ready-built factory projects, ready-built warehouses, custom-built factories and warehouses.
The Industrial Center Yen Phong 2C project is a pioneer in creating the foundation for a green and sustainable industrial park in Vietnam.
During the past year, to ensure capital for production and business activities and investment and development plans, GELEX proactively restructured a number of assets and investments in the system when necessary to supplement resources. finance to implement strategic goals. GELEX has reached an agreement with Sembcorp – Singapore’s leading corporation to acquire a majority stake in GEX’s 245 MW renewable energy portfolio.
By the end of 2023, GELEX’s total consolidated assets are 55,076 billion VND, equity is 21,225 billion VND, and all financial indicators are at a safe level.
Sharing about 2024, the GELEX Board of Directors believes that this is an important pivotal year, creating motivation to promote the development of the business in the next period. The economy will gradually recover but there are still many potential difficulties, GELEX is determined to deploy many solutions to grow revenue – profits, actively participate in the green transition process and create value for the community, society.