On Sartuday, May 15th, Bamboo Capital Joint Stock Company (BCG) held the 2021 Annual General Meeting of Shareholders to report on activities in 2020 and propose a business strategy for 2021. Due to the Covid epidemic -19 complicated developments so the congress was held in the online form to ensure the safety and health of shareholders.
Some main contents approved by the General Meeting of Shareholders are as follows:
2020 business results
In 2020, Vietnam's socio-economy and real estate market will be heavily affected by the Covid-19 pandemic. However, with a reasonable business strategy, flexible business model changes and timely decision-making, Bamboo Capital Group has achieved impressive business results in 2020.
Typical business results:
• Net revenue: Achieved 1,855 billion VND, reaching 96.97% of the plan.
• Profit before tax: Achieved 333.2 billion VND, reaching 135.69% of the plan.
• Profit after tax: Achieved VND 266.4 billion, achieved 144.64% of the plan.
• Dividend 10% (8% in cash and 2% in stock)
Group profits have a strong breakthrough due to contributions from construction activities of Tracodi and M&A activities of real estate projects during the year. Consolidated gross profit margin has been improved markedly, in 2020 is 22.66% compared to 17.71% due to the shift in revenue structure to strategic activities.
Not only completing business targets, BCG also implements projects with rapid progress, achieving the target of renewable energy projects, M&A, a series of real estate projects with prime locations. The results achieved in 2020 are a solid foundation for BCG to fulfill the long-term goals set by the General Meeting of Shareholders in the period 2020-2025.
Business plan for 2021
BCG aims for breakthrough revenue and profit in 2021, specific targets as follows:
• Consolidated net revenue: VND 5,375 billion (increasing 289.76% compared to 2020);
• Consolidated net profit: VND 1,048.3 billion (an increase of 313.3 compared to 2020);
• Profit before tax: VND 1,007.9 billion (an increase of 302.5% compared to 2020);
• Profit after tax: VND 806.4 billion (an increase of 302.7% compared to 2020);
• Dividend: 12% (an increase of 2% compared to the 10% division in 2020).
Business plan for 2021
BCG aims for breakthrough revenue and profit in 2021, specific targets as follows:
• Consolidated net revenue: VND 5,375 billion (increasing 289.76% compared to 2020);
• Consolidated net profit: VND 1,048.3 billion (an increase of 313.3 compared to 2020);
• Profit before tax: VND 1,007.9 billion (an increase of 302.5% compared to 2020);
• Profit after tax: VND 806.4 billion (an increase of 302.7% compared to 2020);
• Dividend: 12% (an increase of 2% compared to the 10% division in 2020).
Also at the General Meeting of Shareholders 2021, shareholders of BCG approved other important issues related to the company's governance and administration in 2021 such as the plan to increase capital nearly 4 times, from 1,360 billion VND to 5,063. billion in 2021; Issuing additional shares to pay dividends in 2020 (ratio 2%); Offering additional 148.77 million shares, equivalent to the ratio of 2: 1 to existing shareholders at the price of VND 12,000 / share; Convert 900 billion bonds into stocks; Offering 60 million additional private shares to strategic partners to supplement working capital for production and business activities.
More information about Bamboo Capital Group:
Bamboo Capital Group (BCG) was established in 2011, until 2015, Bamboo Capital was officially listed on the HOSE, stock code BCG. Over 10 years of development, BCG has grown to become one of the leading corporations in Vietnam with more than 30 member companies and associates. Currently, the Group is operating in four main areas: manufacturing - agriculture, construction - commerce, infrastructure - real estate and renewable energy.
BCG aims to become the leading renewable energy development group in Vietnam, with a target of 2 GW in 2025, with 3 main areas of activity: renewable energy (BCG Energy). real estate (BCG Land) and construction (Tracodi) as pillars of long-term development.