HCMC, July 30, 2024 — Coteccons Construction Joint Stock Company (HOSE: CTD) has released its consolidated financial report for the fourth quarter of 2024. Key financial indicators, including revenue and profits, have shown significant growth compared to the previous year.
For the fiscal year ending June 30, 2024, Coteccons achieved a revenue of 21,045 billion VND, marking a 30.8% increase compared to fiscal year 2023, achieving 118% of the company’s previous business plan target at 17,793 billion VND and 105% of the newly adjusted plan at 20,000 billion VND. Gross profit almost doubled from the prior year, reaching 712 billion VND. Profit after tax rose by 343%, amounting to 299 billion VND, achieving 109% and 104% of the old and new business plan targets, respectively.
In 2024, Coteccons secured new contracts worth 22 trillion VND, providing a strong foundation for achieving next year’s production and business goals. Notably, 41 of these projects are the result of the company’s successful “repeat sales” strategy, indicating a high level of trust and satisfaction from existing clients. This strategy, along with Coteccons’ focus on construction quality and customer care, distinguishes the company in the competitive construction market.
In addition to winning new projects, Coteccons has also earned the trust of new clients for projects such as Pandora Factory, Suntory PepsiCo Factory, Westlake Residential, Legend City Urban Area, Logos Yen Phong BN 2 Factory, Eaton Park Residential Area, Sembcorp Logistics Park Thuy Nguyen, and the East Da Nang apartment complex.
SG&A expenses increased by 21% compared to fiscal year 2023, primarily due to a a rise of 51 billion VND provision set aside to maintain a healthy financial balance sheet. Additionally, Coteccons invested 26% more in human resource development, aligning with its strategy to diversify and prepare a talented workforce for larger markets outside Vietnam.
Coteccons has been recognized with several prestigious awards, most notably being listed among the 500 largest enterprises in Southeast Asia by Fortune magazine. In this list, Coteccons stands as the largest representative of the Vietnamese construction industry, joining the ranks of other reputable companies in the region.
Mr. Bolat Duisenov, Chairman of the Board of Directors, stated: “We always strive to deliver the best for our customers, shareholders, and the community. For us, being an ‘Industry Leader’ means not only achieving excellent business results but also consistently growing to fulfill our mission of serving society and our employees. As a trusted partner to investors, Coteccons never stops at a safe growth rate but always strives for a compound annual growth rate (CAGR) of 20-30%. In fact, from 2023 to 2024, we have achieved a CAGR of 30.8%.”
ABOUT COTECCONS:
Coteccons is a leading construction company with approximately 2,500 engineers and hundreds of projects across Northern, Central, and Southern Vietnam. The company currently manages around 850 projects and contract packages, with operations extending beyond Vietnam. Coteccons is also a pioneer in meeting green standards in the construction industry, with 46 out of 305 green buildings in Vietnam certified under LEED & LOTUS standards.
