According to data from the Foreign Investment Agency, total foreign investment capital registered in Vietnam in the first 6 months of the year reached nearly 15.2 billion USD, an increase of 13.1% over the same period in 2023. New FDI capital flows entering Vietnam continues to grow, leading to high demand for industrial land rental , helping many industrial real estate businesses "do well".
Accordingly, Vietnam Rubber Industry Group - Joint Stock Company (HOSE: GVR) recorded net revenue in the second quarter of 2024 reaching 4,622 billion VND, an increase of 8.2% over the same period last year. After deducting the cost price, the enterprise's gross profit reached 1,172 billion VND, an increase of 21% over the same period last year. Gross profit margin this period reached 38%, the same period last year was 22.6%.
During the period, the business's financial costs decreased sharply by 26%, to 115 billion VND, sales costs also decreased by 6%, to 103 billion VND, and business management costs increased slightly by 4.2%, to 414 billion VND. As a result, GVR reported profit after tax in the second quarter of 994 billion VND, a sharp increase of 38.6% over the same period last year.
Accumulated in the first 6 months of the year, the Group's consolidated revenue reached 9,213 billion VND, consolidated profit after tax reached 1,644 billion VND, up nearly 11% and 12.6% respectively over the same period last year.
Similarly, Sonadezi Chau Duc Joint Stock Company (Code: SZC) recorded net revenue in the second quarter of 2024 reaching 262 billion VND, down 9% over the same period. However, due to the deep decrease in cost price, after deductions, the company's gross profit reached nearly 150 billion VND, an increase of 9%. Gross profit margin thereby increased from 48% to 57%, the highest level since the first quarter of 2022.
Besides, interest expenses also decreased by 28%, to nearly 9 billion VND. However, business management costs increased by 80% to nearly 14 billion VND. As a result, Sonadezi Chau Duc reported second quarter after-tax profit of 102 billion VND, up 6.3% over the same period last year.
Accumulated in the first half of 2024, Sonadezi Chau Duc has revenue of more than 476 billion VND and profit after tax of 167 billion VND, up 36% and 55% respectively over the same period last year. Thus, compared to the whole year's business goals, SZC has achieved 54% of the revenue plan and 73% of the profit target.
For Sonadezi Long Thanh Joint Stock Company (Code: SZL), in the second quarter of 2024, the company's net revenue reached 125 billion VND, an increase of 16.8% over the same period last year. Of which, Long Thanh industrial park factory rental revenue accounts for the highest proportion with 37%, equivalent to 47.6 billion VND, an increase of 23.6% over the same period.
After deducting costs, the business's gross profit in the second quarter of 2024 is 39.2 billion VND, an increase of 18% over the same period. Profit after tax is 34.6 billion VND, an increase of 54% compared to the second quarter of 2023.
In the first 6 months of 2024, the company's revenue is 240 billion VND, up 14% over the same period last year. Profit after tax reached 57 billion VND, an increase of about 26% over the same period. With the above results, SZL has achieved 56% and 68% of its revenue and profit targets for the whole year, respectively.
Tin Nghia Industrial Park Joint Stock Company (Code: TIP) also recorded positive results with net revenue reaching 40.7 billion VND, up 7% over the same period last year. This increase comes from revenue from providing services at Tam Phuoc Industrial Park (Dong Nai).
In addition, the company's financial revenue also skyrocketed to 67 billion VND in the second quarter of 2024, while the same period last year only reached 5 billion VND. This revenue source comes from cooperation with Petroleum Investment and Exploitation Joint Stock Company of Phuoc An Port. After deducting expenses, TIP profit after tax reached 68 billion VND, an increase of 5 times compared to the same period last year.
In the first 6 months of the year, the company's net revenue reached 79 billion VND, up 14% over the same period last year. Profit after tax reached 96 billion VND, an increase of 3.7 times compared to the previous year. With this result, the company has achieved 48% of its revenue target and 57% of its profit target.
Long Hau Joint Stock Company (Code: LHG) also achieved impressive results with net revenue of 162 billion VND, nearly 2.5 times higher than the same period last year. Gross profit is nearly 3 times higher than the second quarter of 2023, reaching 94 billion VND, helping gross profit margin increase from 51% to 58%.
In the revenue structure, industrial park land rental accounts for more than 50.8% of Long Hau's total revenue in the second quarter of 2024, while this amount was not recorded in the same period. At the end of the second quarter, Long Hau reported a profit of 67.8 billion VND, 2.3 times higher than the same period last year. This is also the highest profit in the last 6 quarters of this business.
In the first 6 months of the year, Long Hau's revenue reached 134 billion VND and profit after tax reached 99 billion VND, up 45% and 31% respectively over the same period last year. Accordingly, Long Hau has completed 36% of the revenue plan and 76% of the year's profit plan.
