VINACONEX SUCCESSFULLY HELD THE ANNUAL GENERAL MEETING 2024

The 2024 Annual General Meeting of Shareholders of Vinaconex Corporation took place successfully on April 24. With high consensus, the AGM endorsed the 2023 production and business results alongside the 2024 production and business plan, which outlined robust targets for revenue and profit growth, as well as many other important matters related to the development direction of the enterprise.

The AGM was chaired by the Presidium including Chairman of the Board of Directors, Dao Ngoc Thanh, General Director Nguyen Xuan Dong, and Standing Deputy General Director Duong Van Mau.

During the AGM, General Director Nguyen Xuan Dong reported on Vinaconex's performance, highlighting the corporation's ability to maintain stability and efficiency despite challenges in the past year. Total consolidated revenue reached VND12,965 billion, (surpassing the 2022 target by 135%), and profit after tax was VND 396 billion. Particularly, the Holding Company led the system with total revenue of VND 8,741 billion (exceeding the 2022 performance by 106%), its profit after tax reached VND 220 billion, with an expected dividend of 12%, surpassing the plan by 120%. 

In construction, the Corporation maintained its position as a leading entity, securing contracts for national key projects with large-scale, high engineering, and aesthetic standards and progress. In 2023, the Corporation kept securing multiple major bidding contracts, ensuring a steady workload for the following years. Some notable projects include 2 bidding packages of the Long Thanh International Airport Project, segments of the North-South expressway project in the period of 2021 - 2025, Package no. 09 - TP2/XL for Ring Road No. 4 – Hanoi capital region, as well as projects with foreign direct investment such as the Hung Yen Clean Industrial Park, the Vung Ang 2 Thermal Power Project in Ha Tinh, and the JSH Ha Nam project, etc. that further enhanced Vinaconex's reputation as the second-ranked Vietnamese contractor in 2024.

Last year, Vinaconex completed and inaugurated several key infrastructure projects on or ahead of schedule, earning praise from both the Government and investors. These include bidding packages for the North-South expressway component project phase 1 (sections of Vinh Hao - Phan Thiet; Phan Thiet - Dau Giay, Mai Son - National Highway no. 45); Vinh Tuy Bridge (phase 2), Phu Bai International Airport’s Terminal T2, etc.

In real estate, Vinaconex has developed a key investment strategy, focusing on urban and industrial park projects, notably the Dong Anh Industrial Park projects, which has an investment policy approved by the Prime Minister. Embracing forthcoming opportunities, Vinaconex confidently progresses into a new developmental phase with projects like Green Diamond on 93 Lang Ha Street, Cat Ba Amatina, Hoa Binh Avenue urban area, and Dakba Hydropower Project, etc.

Financial investments within the system have yielded significant profits, with companies like Vinaconex Investment Co., Ltd, NEDI2, VIWACO, and Ly Thai To Education Company Limited; Some units have also experienced notable growth, achieving revenue exceeding VND 1,000 billion, including VIMECO, VINACONEX 25, and VINACONEX CM, etc.

Vinaconex, in addition to maintaining a strong financial state, has repurchased bonds worth VND 2,200 billion before maturity. Furthermore, the company's outstanding financial management led to recognition as one of the top 15 listed enterprises in 2023.

Heading into 2024, the Executive Board has developed a high-growth production and business plan for the next 5-year development period as follows:

• Consolidated revenue is VND 15,000 billion, and profit after tax is VND 950 billion, equal to 115% and 240% increase, respectively, compared to the previous year's performance.
• The Holding Company’s revenue and profit after tax of VND 10,500 billion and VND 860 billion, respectively, representing a 120% and 391% increase from the previous year.
• The dividend rate is 12%.

In the discussion with shareholders, Chairman of the Board of Directors Dao Ngoc Thanh stated that the entire Corporation would strive to well implement the proposed 2024 production and business plan. This commitment underscores Vinaconex's determination to uphold its leading position in the construction and real estate industry, bolster its brand and corporate culture, ensure shareholder benefits, enhance employee welfare, and contribute more to the community and society.