When officially trading on November 12th, 2018, Hung Thinh Incons Joint Stock Company (HTN) will become the 375th member on HOSE and the 45th listed enterprise in construction sector. Reference price in the first transaction day was 23,300 VND / share, equivalent to the capitalization value of VND 582.5 billion.
Q7 Saigon Riverside Complex - A project generally constructed by Hung Thinh Incons
Facing the strong competition of the current construction market, Hung Thinh Incons has gradually asserted its name by its inherent strengths. It is a combination of leaders, architects, engineers, technicians, skilled and experienced workers and modern construction technologies and techniques. In addition, Hung Thinh Incons is the main general constructor who plays an important role in the real estate supply chain of Hung Thinh Real Estate Business Investment Corporation (Hung Thinh Corp).
Continuous growth of business results for many years
The proof for this is the business results continuously grew for many years of Hung Thinh Incons.
Along with the growth of the real estate market, the number of construction contracts being signed and implemented in 2016 and 2017 of Hung Thinh Incons increased compared to previous years. In detail, 2016 revenues were over VND 948 billion, 3.8 times higher than those in 2015 and net profits were nearly VND 51 billion, 4.2 times higher than those in 2015. Business results in 2016 grew strongly thanks to completed acceptance of 2 projects as 8X Plus and 91 Pham Van Hai.
In 2017, revenues of Hung Thinh Incons continued to increase when reaching over VND 2,700 billion, 2.8 times higher and profits after tax reached VND 110 billion, 2.2 times higher than those in 2016.
And in the first 9 months of 2018, the Company's revenues reached VND 2,590 billion, nearly equal to the whole year of 2017. Profits after tax were recorded VND 114.5 billion, exceeding the profit of 2017.
In the most recent 5-year period, from 2013 to 2017, business results of Hung Thinh Incons continuously grew. Accordingly, the average growth rate of net revenue of the Company reached more than 215% and the average growth rate of profits was up to 190%.
Business results of Hung Thinh Incons from 2013 to September 2018 (Unit: billion Vietnamese dongs)
Hung Thinh Incons: The average growth rate of profit for the last 5 years reached 190%
Source: Prospectus of Hung Thinh Incons.
Along with positive growth results, earnings per share (EPS) of Hung Thinh Incons was quite high compared to many companies in the same sector which are being currently listed on the stock exchange. In detail, 2016 EPS was VND 2,550, 2017 EPS was VND 4,407 and the first 9 months of 2018 was VND 3,994.
On September 30th, 2018, the total asset value of Hung Thinh Incons reached over VND 3,904 billion, nearly 6 times higher than those at the end of 2015. The asset turnover of the Company also increased from 0.56 times in 2015 to 1.12 times in 2016 and 0.97 times in 2017, contributing to increase the business performance of the Company.
Basis for 2018 and 2019 plans
In 2018, Hung Thinh Incons set revenue target of VND 4,054 billion and profit after tax of VND 180 billion, an increase of 50% and 64% respectively compared to the previous year. In 2019, the company plans to increase revenue and profit by 20%, i.e. VND 4,865 billion and VND 216 billion respectively.
Business plan of Hung Thinh Incons in 2018 and 2019 (Unit: billion Vietnamese dongs)
The projects that Hung Thinh Incons is carrying out are concentrated mainly in apartment projects with prices in line
with the majority of home buyers in Ho Chi Minh City, so that the projects all have good sales speed.
Source: Prospectus of Hung Thinh Incons.
Profit plan of Hung Thinh Incons is built on the basis of signed and deployed contracts. The progress of acceptance of construction value is made corresponding to the payment schedule of the homebuyer, helping the Company to record revenue as well as quickly receiving payments from investors.
Some of Hung Thinh Incons' main projects will be completed and recorded profit in 2018 and 2019 such as Florita Apartment (contract value of VND 673 billion), Sky Center office and apartment building (contract value of VND 840 billion), 9View Apartment (contract value of VND 490 billion), Hung Thinh Urban Area - Golden Bay (contract value of VND 759 billion), SaigonMia (contract value of VND 1,150 billion),…
The total value of construction contracts for projects that have been implemented in 2018 is VND 7,469 billion, most of which will be completed and recorded revenue in 2018 and 2019. In addition, the Company has negotiated and signed some contracts to implement the 2019 - 2020 plan.
It is known that after listing Hung Thinh Incons will pay 30% dividend to shareholders, including 15% in cash and 15% by stocks.
By cafef.vn
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- http://thuonggiaonline.vn/tiem-nang-cua-co-phieu-hung-thinh-19439.htm
