An Phat Holdings’ profit reaches VND 139 billion in the first half of 2021, increases by 29%

04/08/2021

An Phat Holdings (HoSE: APH) announced its second quarter consolidated financial statements with revenue increasing by 87%, reached VND3,736 billion (~$ 159 million); profit before tax reached VND 89 billion (~$ 3.7 million), up 30%. Profit after tax reached VND 67 billion (~$ 2.8 million), which increased slightly compared to the same period last year.

Hầu hết các đơn vị thành viên của APH đều ghi nhận kết quả kinh doanh khả quan quý II.
 Most of APH’s member companies reported positive business results in the second quarter.

For the first half of 2021, revenue reached VND 6,401 billion (~$ 272 million), up 67%; cost of goods increased lower, therefore gross profit reached VND 753 billion (~$ 32 million) up 76%. Gross profit margin slightly improved from 11.18% to 11.76%.

Financial revenue increased sharply from VND 97 billion (~$ 4 million) to VND 132 billion (~$ 5.6 million), up 36%. However, expenses also increased at the same time as financial expenses increased by nearly 4%, selling expenses increased by 173% and administrative expenses increased by 18%. Therefore, profit after tax reached VND 139 billion (~$ 5.9), up 29%.

In addition, the industrial real estate segment also brought in revenue of VND 122.4 billion (~$ 5.2 million), 4.4 times higher than the same period last year; gross profit of VND 52 billion (~$ 2.2), 2.9 times higher than the same period last year. Sales of goods and finished products of An Phat Holdings reached VND 6,212 billion (~$ 264 million), up 67.6% over the same period last year. According to APH, the increase in the price of plastic resins led to a sharp increase in the revenue of the packaging segments. Along with that, the acquisition of industrial packaging and building material plastics since the end of 2020 also brought in significant revenue growth in the first 6 months of the year.

In general, APH’s member units all reported impressive business results in the second quarter and first half of the year. Specifically, An Phat Bioplastics JSC (HoSE: AAA) reported a revenue increase of 80% in the second quarter, reached VND 3,265 billion (~$ 139 million), profit increased by 25% to VND 93 billion (~$ 3.9 million). For the first half of 2021, revenue increased by 64% and profit increased by 33%, to VND 5,548 billion (~$ 236 million) and VND 182 billion (~$ 7.7 million), respectively.

An Tien Industries JSC (HoSE: HII), a member company of AAA achieved VND 2,179 billion (~$ 92.7 million) in revenue in the second quarter, up 101%; profit after tax reached VND 34 billion (~$ 1.4 million), up 140%. For the first half of 2021, HII’s revenue reached VND 3,461 billion (~$ 147 million), profit after tax reached VND 63.5 billion (~$ 2.7 million), up 84% and 191% respectively over the same period last year.

Hanoi Plastics JSC (HoSE: NHH) reported a revenue increase of 168% in the second quarter to VND 531.7 billion (~$ 22.6 million) thanks to the expansion of the production of SPC flooring and wall panels of its member company (An Cuong Building Materials JSC) and strong growth in exports to the US market. However, because there is no extraordinary profit (as VND 15 billion in 2020), NHH’s second quarter profit decreased by VND 2.1 billion (~$ 89.361) to VND 8.6 billion (~$ 365.857). In the first 6 months, revenue increased by 123% and profit increased by 5% to VND 1,020 billion (~$ 43 million) and VND 20.3 billion (~$ 863.829), respectively.

At the end of quarter II, An Phat Holdings’ total assets reached VND 11,746 billion (~$ 499.8 million), an increase of more than VND 1,300 billion (~$ 55 million) compared to the beginning of the year. In which, cash and cash equivalents of the business is doubled from VND 1,133 billion (~$ 48 million) to VND 2,408 billion (~$ 102 million). The reason is that in the second quarter, APH successfully issued 55.7 million shares and its subsidiary – AAA successfully auctioned 75 million shares.