VRG sets a revenue target of VND 30,000 billion

On January 11th in Ho Chi Minh city, Vietnam Rubber Group (VRG) held the “Conference on 2021 Production and Business Summary - 2022 Orientation and Tasks”.

Mr. Huynh Van Bao, VRG General Director, said that the group executed its tasks and plans in 2021 in the context of the socio-economic situation heavily affected by the Covid-19 pandemic and unfavorable climate at various times of the year in many regions. The world economy had slowly recovered but the global value chains remained disrupted, causing a constant increase in input prices.

Facing such a situation, VRG promptly proposed appropriate and flexible plans to ensure the fulfillment of the dual goals: effectively prevent the pandemic and ensure rubber industry workers’ safety, health, employment and income while maintaining stable and efficient production and business activities.

As a result, VRG has basically overcome difficulties and succeeded with all important targets by the end of 2021, reaching and even exceeding the original plan.

The total consolidated revenue reached over VND 28,500 billion, approximately 6% higher than the plan. Pre-tax profit is estimated at over VND 6,100 billion, exceeding 7% of the plan. Profit after-tax is estimated at over 5,100 billion VND, exceeding 10% of the plan.

Complicated as the pandemic has been, the average income of nearly 85,000 employees in VRG reached VND 8,626,000/person/month, up 10% compared to the approved salary plan.

VRG had also transferred the equitized enterprise from a state-owned company to a joint-stock company on December 17, 2021, officially completing the equitization in accordance with the law.

The year 2021 is also the third year VRG implements the 2019-2024 Sustainable Development Program. Up until the present date, fifteen member companies have developed sustainable forest management plans on 200,925 ha (accounting for 69.7% of VRG's total rubber area in Vietnam). Twelve companies were granted sustainable forest management certificates according to national and international standards (VFCS/PEFC-FM) on 70,030 ha of rubber and particularly the PEFC-CoC international certificate for 22 rubber processing factories.

Also in the past year, 20 enterprises of the group were recognized with the title of "Sustainable Enterprises in Vietnam", in which Dong Nai Rubber Corporation was in the Top 10.

VRG was voted as one of the 50 best listed companies for the 9th time announced by Forbes Vietnam with a market capitalization of over VND 150,000 billion in 2021. The average stock price traded during the year is estimated at over VND 30,000/share.

Aware of the role of businesses in joining hands with the community in disease prevention, VRG has donated VND 200 billion to the Vietnam Covid-19 Vaccine Fund.

VRG and the Vietnam Rubber Union also support billions of VND for many provinces in Vietnam as well as localities in Laos and Cambodia (where the group's member units hold positions) to perform well in the prevention and control works against Covid-19.

VRG has set a consolidated target for the whole group in 2022: Expected revenue of VND 30,000 billion and expected profit of VND 6,300 billion; expected revenue of VND 4,094 billion and expected profits of VND 2,368 billion for the parent company in particular.