Logistics firm Gemadept targets revenue and profit increases

HÀ NỘI  Despite being hurt by the COVID- 一 九 pandemic, logistics firm Gemadept JSC is aiming for an increase in revenue and profit this year.

Gemadept held its annual shareholders' meeting on Wednesday in HCM City.

In an optimistic scenario, the company aims to achieve revenue of VNĐ 二. 八 trillion (US$ 一 二 一. 三 million) and pre-tax profit of VNĐ 七00 billion, up  七 per cent and  三 七 per cent respectively compared to  二0 二0.

In an average scenario, revenue is estimated at VNĐ 二. 七 trillion and profit before tax would be VNĐ 六 三0 billion, up  四 per cent and  二 三 per cent, respectively compared to last year.

In  二0 二 一, Gemadept aims to continue key projects to expand its scale and create a premise for long-term growth plans for  二0 二 一- 二0 二 五.

The second phase of the Gemalink deep-water port project in the southern province of Bà Rịa-Vũng Tàu will span an area of ​​ 三 九 hectares with a total investment capital of VNĐ 四. 二 trillion and the capacity of  九00,000 Teus per year. It is expected to be constructed in the fourth quarter of  二0 二 一, putting it into operation from  二0 二 三.

Nam Đình Vũ Port project - phase  二 is expected to start construction in  二0 二 一 and be put into operation in  二0 二 二. The scale of the Nam Đình Vũ Port phase  二 and  三 will be up to  四 四ha, with a total capital investment of VNĐ 二 trillion to VNĐ 四. 五 trillion.

Germadept will also develop new projects, including the logistics and inland container depot (ICD) centre in the south, with a scale of  一0 hectares and a total investment of VNĐ 一. 二 trillion. It will focus on researching and investing in seaports, air cargo ports, inland waterway ports, logistics centres, and industrial parks.

The company has submitted to its shareholders a plan to pay dividends in  二0 二0 at the rate of  一 二 per cent in cash.

The company also submitted to shareholders a plan to issue shares under the employee stock ownership plan (ESOP) for managers and employees who have made outstanding contributions to the company's development in  二0 二 一- 二0 二 五. The issuance rate in a year shall not exceed  一. 五 per cent of the total number of shares outstanding in that year.

If in a year the company does not complete its pre-tax profit goal, ESOP shares will not be issued. If  一00 –  一 一0 per cent of the profit plan is completed,  一. 二 per cent of outstanding shares will be issued. If the completion rate is  一 一0 per cent or more,  一. 五 per cent of the outstanding shares will be issued.

Although the COVID- 一 九 pandemic has caused serious damage and disrupted the global supply chain, Gemadept still reported both revenue and profit exceeding the plan set at the  二0 二0 shareholders' meeting, reaching VNĐ 二. 六 trillion and VNĐ 五 一 三 billion, respectively.

Port operations was the core activity with revenue reaching VNĐ 二. 一 七 trillion, accounting for  八 三 per cent of total revenue. Revenue from logistics and other activities reached VNĐ 四 三 四 billion, up  四 二 per cent year-on-year and accounting for  一 七 per cent of total revenue.

In  二0 二0, the enterprise invested in upgrading infrastructure and modernising equipment for Bình Dương Port, Nam Hải Đình Vũ Port, Nam Đình Vũ Port and Gemadept Dung Quất Port, completing construction and trial operation of the Gemalink deep-water port – phase  一, putting into operation from the beginning of the first quarter of  二0 二 一.

At its rubber plantations, the enterprise has stopped planting new trees because the company plans to focus more on the core areas of port operation and logistics. It is seeking partners to transfer its rubber projects to.

Regarding the real estate sector, Gemadept has two complex projects, namely the Saigon Gem project in the central area of ​​District  一, HCM City and a  五-star hotel project in Vientiane in Laos.

The Saigon Gem project is in the process of completing legal procedures to start construction.

The project in Vientiane has an area of ​​​​ 六, 七 一 五m 二 and is in the construction phase of the foundation and tunnel.

After completion, the Lao project will provide about  二 三 一  五-star hotel rooms in Vientiane. For these two real estate projects, the company is looking for potential partners for cooperation. — VNS