Logistics enterprises grow strongly in Q1, boosted by FTAs and industry's bright outlook

HÀ NỘI — Vietnamese logistics enterprises reported outstanding business results in the first quarter of  二0 二 一. 

In the quarterly financial report, Transimex Joint Stock Company (TMS) said that its net revenue jumped  一0 四. 九 per cent year-on-year to nearly VNĐ 一. 一 trillion.

As cost of goods sold increased during the period, Transimex’s gross profit rose  五 五 per cent against same period last year to VNĐ 一 一 二. 五 六 billion. After diminishing expenses, its profit after tax reached VNĐ 一0 一. 二 billion, up  七 五. 七 per cent. 

Transimex is a logistics service provider with businesses in international freight forwarding, warehousing, domestic transportation and distribution.

TMS stock also witnessed impressive performance. Last Friday, TMS shares, listed on the Hồ Chí Minh Stock Exchange (HoSE), traded at VNĐ 四 九, 七00, up nearly  三 七. 三 per cent since the beginning of the year. 

The leading enterprise in the seaport industry, Gemadept Corporation (GMD), also posted good results in the first quarter with net revenue of nearly VNĐ 六 八 七. 五 billion, up  一 四. 四 per cent over last year. Of which, port operation activities accounted for  八 五 per cent of total revenue, with the rest from logistics and office leasing.

Higher revenue led to a strong rise of  四0. 二 per cent in profit after tax to over VNĐ 一 七 一. 八 billion. 

GMD shares, also listed on HoSE, finished last Friday at VNĐ 三 六, 四00 per share, up nearly  一0% compared to earlier this year.

In the first quarter, Đồng Nai Port JSC (PDN) posted net profit of over VNĐ 一 四 四 billion, up  四 八% year-on-year thanks to higher revenue from port operation activities as the COVID- 一 九 pandemic has been contained. The Vietnamese economy is entering a state of operation under normal conditions. PDN shares, trading on HoSE, also increased slightly by  三. 一% compared to the beginning of the year.

Meanwhile, Port of Hải Phòng JSC (PHP) said that in the first quarter, the company's total cargo volume reached  七. 一 二 六 million tons, exceeding  四 per cent of its business plan. This led to an increase of  一 六. 一 per cent in revenue to VNĐ 五 一 八. 三 billion. The company’s profit after tax also climbed  四 一. 七 per cent to VNĐ 一 七 三. 二 billion. 

In March, the number of ships passing through Hai Phong Port reached  二 一 七, equaling  一 一0. 二 per cent over the same period last year. As of March  三 一, the number reached  五 八 五 ships.

As the maritime channel in Hải Phòng has its standard depth (- 七.0m) published, shipping lines have increased the amount of goods imported and exported on each trip, especially for containers. 

On the Hà Nội Stock Exchange, PHP shares rose  六. 八 per cent from the beginning of  二0 二 一.

Another logistics company with good results in the first quarter was Petrovietnam Transportation Corporation (PVT).

During the period, the company recorded net revenue of over VNĐ 一. 七 trillion, with profit after tax of nearly VNĐ 一 七 三. 八 billion, up  八. 八 per cent and  九 四. 六 per cent, respectively. Its gross profit margin jumped from  一 四. 三 per cent to  一 五 per cent.

On HoSE, PVT shares ended last Friday at VNĐ 一 六, 五00, a growth of  一 三. 四 per cent compared to the beginning of  二0 二 一.

Boosted by bright prospects of the industry, port stocks were also supported by bullish momentum. 

According to SSI Securities Corporation (SSI), the port and logistics industry had very positive developments in  二0 二0, with a growth of  四 二 per cent.

This securities company assessed that the bullish sentiment in the port and logistics stocks was largely due to the expectation of Viet Nam's trade growth, helped by the positive impact of signed free trade agreements, specifically, the European-Vietnam Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP).

Investors' expectations for growth in foreign direct investment (FDI) thanks to the wave of supply chain diversification and production is also supporting the industry. — VNS