Đèo Cả Traffic Infrastructure targets rise in revenue and profit

Đèo Cả Traffic Infrastructure Investment JSC (HHV) targets a post-tax profit target of VNĐ396 billion, an increase of 36 per cent year-on-year. Photo vntrip.vn

HÀ NỘI – Đèo Cả Traffic Infrastructure Investment JSC (HHV) targets revenue of VNĐ2.5 trillion (US$108.8 million) in 2022, up 35 per cent year-on-year.

The company also set a post-tax profit target of VNĐ396 billion, an increase of 36 per cent year-on-year, according to the plan approved at its 2022 Annual General Meeting (AGM) on Sunday.

In 2021, HHV achieved VNĐ981 billion, up 80.13 per cent year-on-year. HHV attributed the growth results to the promotion of construction and installation activities via the signing and implementation of bidding packages for Trung Lương Mỹ Thuận highway project, Cam Lâm – Vĩnh Hảo expressway.

Post-tax profit in 2021 also increased sharply compared to the previous year, reaching VNĐ229.7 billion, 5.6 times higher than post-tax profit in 2020.

HHV’s Board of Directors submitted to the general meeting the plan to pay dividends in 2021 in shares, with the payment rate of 91.87 per cent.

Regarding leadership, two members of the Board of Directors Hà Huy Hùng and Trần Văn Thế, were dismissed for personal reasons. Instead, Nguyễn Hữu Hùng and Hồ Quang Lợi were elected to the Board of Directors for the 2019-2024 term.

HHV plans to allocate VNĐ4 trillion to develop its projects. Of the estimate, VNĐ2 trillion will be spent on Cam Lâm – Vĩnh Hảo project, VNĐ450 billion for Trung Lương – Mỹ Thuận expressway phase 1, VNĐ100 billion for the capital supplement of Đèo Cả Group Joint Stock Company, VNĐ100 billion for the Bắc Giang – Lạng Sơn expressway, VNĐ370 billion for the payment for three office buildings in Lạng Sơn, Hà Nội and Phú Yên, VNĐ100 billion for the investment in machinery and equipment and the remaining VNĐ880 billion will be reserved for expressway projects.

“As a member unit in the ecosystem of Đèo Cả Group, HHV has demonstrated new resilience with important contributions with many roles, such as an investor, a constructor, especially in the management, exploitation and operation capacity, which are specialised capabilities that we have worked hard to build over the years,” said Hồ Minh Hoàng, HHV Chairman.

“In the context of escalating raw material prices, we still managed to secure capital to execute our projects on schedule.

“Learning from previous projects, when there is a fluctuation in material prices, businesses have connected and linked with suppliers, ensuring supply chain and price stability right from the beginning, negotiating prices of sand, cement, iron and steel with suppliers right from the start to stabilise prices during project implementation,” he said. — VnExpress News