Viglacera (VGC): Monthly Meeting in November 2023 ty so bong da hom nay Preparation for 2024 Business Plan

On December 4, 2023, Viglacera Corporation (HoSE: VGC) held a meeting to evaluate the production ty so bong da hom nay business results for November ty so bong da hom nay to deploy the plan for December 2023, as well as to prepare the 2024 business plan. In the context of unfavorable market conditions that have lasted for more than a year, Viglacera's production ty so bong da hom nay business results have accurately reflected the spirit of proactive anticipation of developments, ty so bong da hom nay the implementation of strategic solutions, contributing to ensuring safe ty so bong da hom nay healthy production ty so bong da hom nay business results.

A panoramic view of ty so bong da hom nay meeting at Viglacera Corporation

Specifically, in November, the parent company's profit met the plan ty so bong da hom nay reached 101% of the monthly plan. Accumulated for the first 11 months of the year, the parent company's profit reached 142% of the annual plan, up 7% from the same period. The consolidated profit of the entire Group is estimated to reach 1,663 billion VND, reaching 137% of the annual plan.

These numbers are not just numbers. Behind the above growth chart, there are a series of efforts in directing ty so bong da hom nay operating ty so bong da hom nay the right development direction.

In the context of general difficulties for most types of conventional building materials, new ty so bong da hom nay differentiated products such as Sintered Stone (Vasta Stone) ty so bong da hom nay Ultra Clear Glass have proven to be timely when the number of projects decreases but the requirements are increasingly high in terms of quality ty so bong da hom nay differentiation. It is worth mentioning that in the context of the real estate ty so bong da hom nay construction market is almost stagnant, the business results of the two new product lines mentioned above show that what meets the strict requirements of the market will always have a firm foothold.

This is also a consistent direction of Viglacera in many years to come, ty so bong da hom nay it has been, is, ty so bong da hom nay will continue to be implemented in the future, contributing to affirming that the "high-tech axis" is the lifeline for Viglacera to overcome the most difficult market periods.

Viglacera ty so bong da hom nay Emser Tile successfully signed the order in October 2023

Regarding positive export growth, in the accumulated 11 months, the total export revenue of the entire Corporation reached 42.2 million USD, achieving 154% of the same period last year. This growth is particularly evident in products such as Tiles (+126%), PFG Glass (+79%), ViFG Glass (+16%), ty so bong da hom nay Sanitaryware (+68%). Viglacera's products consistently meet quality standards ty so bong da hom nay international certifications, ty so bong da hom nay the focus on export involves providing even more perfect ty so bong da hom nay convenient services for partners ty so bong da hom nay customers to meet the export target for 2024, continuing the outstanding growth.

In the real estate sector, industrial parks remain a significant highlight. Business results, along with dividends from subsidiaries ty so bong da hom nay affiliated companies, contribute significantly to the total revenue ty so bong da hom nay profit of the Corporation. This success is attributed to the persistence ty so bong da hom nay consistency in the investment approach to building a perfect ecosystem for industrial park services, worker housing, cultural design, etc. Key points include improving service quality, professional operation, enhancing amenities in industrial park projects, which are crucial for attracting new investors in the future.

With 12 industrial parks currently owned ty so bong da hom nay operated, covering a total area of over 4000 hectares, Viglacera solidifies its position by attracting 300 domestic ty so bong da hom nay international businesses with over 16 billion USD in FDI, including major global corporations such as Samsung, Amkor, Canon, Hyosung, Anam Electronics, IRC Tire, Toyoda Gosei, etc.

In the flow of Viglacera's activities, every business operation is closely tied to social responsibility. Viglacera's board of directors is actively considering the implementation of worker housing projects to meet the needs of laborers. Numerous projects are ready ty so bong da hom nay waiting for the market conditions to initiate. Recently, new resolutions from the National Assembly amending the Housing Law ty so bong da hom nay Real Estate Business Law have been passed, removing legal barriers for investors ty so bong da hom nay beneficiaries of social housing policies, addressing the stagnation in this particular market. At present, Viglacera has comprehensively planned a major investment initiative to build 50,000 social housing units from 2022 to 2030 through specific projects such as worker housing projects in Dong Van IV Industrial Park, social housing projects in Kim Chung, worker housing project in Hai Yen - Quang Ninh, or by participating in bidding for new projects in Bac Ninh, Phu Tho, ty so bong da hom nay Hanoi.

Regarding the business direction for the last month ty so bong da hom nay the plan for 2024, enhancing managerial depth, the urgent requirement at this time is to accelerate the digital transformation, integrating ERP into enterprise management ty so bong da hom nay production control to ensure long-term stability ty so bong da hom nay development for the entire system. In the operation of business production, the company continues to adhere to a proactive, flexible, closely aligned, ty so bong da hom nay market-oriented business direction.

ty so bong da hom nay Ultra Clear Glass

The field of construction materials is expected to continue facing challenges in the short term, as the market has not shown many signs of improvement. The most appropriate solution at this time is to proactively implement measures to maintain business efficiency, such as closely monitoring ty so bong da hom nay timely evaluating market developments. This includes adjusting product types ty so bong da hom nay quantities, regulating production output according to market demand, reducing production costs, minimizing inventory, intensifying sales efforts, ty so bong da hom nay focusing on a robust restructuring of both products ty so bong da hom nay company management activities.

In parallel, Viglacera continues to research ty so bong da hom nay develop new environmentally friendly products, helping consumers optimize energy usage costs. The focus will be on products with a high content of gray materials ty so bong da hom nay investment in market development, specifically Energy-saving glass, Ultra Clear Glass, AAC blocks, Sintered Stone, etc.

Viglacera was honored at ty so bong da hom nay 2023 Outstanding Real Estate Awards Ceremony.

For the real estate sector, Viglacera will focus on the construction of technical infrastructure at industrial zone projects: Thuan Thanh I, Tien Hai, Phong Dien, Phu Ha, Hai Yen, to attract businesses from both domestic ty so bong da hom nay international markets. In 2023, Viglacera aims to record approximately 218 hectares of business area for technical infrastructure of industrial zones, continuing to play a major role in the overall revenue of the Corporation.

Currently, the entire real estate business sector of Viglacera is collectively reviewing ongoing projects, establishing detailed schedules for land clearance, construction, production confirmation, investment settlement, planning, ty so bong da hom nay preparing cash flows for projects up to the Lunar New Year.

The progress of land clearance at industrial zone ty so bong da hom nay housing projects is under control. All projects are being implemented with a focus on comprehensive investment in technical infrastructure ty so bong da hom nay services at projects to attract investors domestically ty so bong da hom nay internationally.

With positive business results in November ty so bong da hom nay the cumulative 11 months of the year, Viglacera has exceeded the annual profit plan. In the last month of the year, the Corporation will continue to implement appropriate solutions to maintain growth momentum, ensure the completion of the 2023 business plan, ty so bong da hom nay lay the foundation for building the 2024 production ty so bong da hom nay business plan in line with the real market conditions.