Sonadezi Long Binh set target of 5.5 % growth in revenue and dividend payment of 25%

Sonadezi Long Binh Shareholding Company (stock code: SZB) has just held the 2023 Annual General Meeting of Shareholders, approving the target of revenue and profit growth compared to the previous year.

Reporting at the congress, Mr. Nguyen Ba Chuyen - General Director of SZB said that business results in 2022 basically met the plan. The revenue target alone only reached 96.4% due to a number of objective reasons such as procedural problems in compensation and infrastructure investment that affected the revenue.

With efforts and flexibility in the context of many difficulties and fluctuations in 2022, SZB has achieved total revenue of 369 billion VND, profit after tax of nearly 107 billion VND. In general, every business segments are profitable. Industrial park infrastructure business is still the main revenue-generating activity for SZB and contributes more than 65% of total revenue.

Particularly in Thanh Phu Industrial Park, the occupancy rate has reached about 60% of the area. By the end of 2022, SZB has carried out compensation and site clearance of about 75 hectares/120 hectares, reaching a rate of over 62% of the total land area to be recovered.

In 2022, SZB total assets increased from VND 1,198 billion to VND 1,289 billion. With the achieved business results, SZB paid cash dividends at a rate of 30% of charter capital (20% more than planned), equivalent to 90 billion VND. The company has advanced dividends of 12% in 2022, the remaining 18% will be paid in 2023.

At the AGM, SZB Board of Directors shared with shareholders a lot of information about the business plan in 2023, emphasizing the goal of revenue growth from leasing factories in Thanh Phu Industrial Park (Dong Nai), Chau Duc Industrial Park (Ba Ria - Vung Tau), at the same time leasing industrial land area eligible for business in Xuan Loc Industrial Park, Thanh Phu Industrial Park.

SZB plans for 2023 with key targets including total revenue of VND 389.6 billion, profit after tax of VND 111.5 billion (up 5.5% and 4.5% respectively compared to the results in 2022); paying dividends at the rate of 25% of charter capital, equivalent to 75 billion VND.

SZB shareholders have agreed to approve business results and profit distribution plan in 2022, business plan and profit distribution plan in 2023, and approved all reports presented at the Congress.