DIC GROUP TARGETS CONSOLIDATED REVENUE IN 2023 TO REACH VND 4,000 BILLION

On the afternoon of July 21, DIC Group (HoSE: DIG) successfully held the 2023 Annual General Meeting of Shareholders (AGM). The meeting was attended and authorized by shareholders representing 37.58% of the voting shares and eligible to proceed according to regulations. All important reports and submissions related to the production and business plan in 2023 have been unanimously approved by the AGM.

Photo 1: Overview of DIC Group's 2023 Annual General Meeting.

CONSOLIDATED PRE-TAX PROFIT IN 2023 IS PLANNED TO REACH VND 1,400 BILLION

Photo 2: Mr. Nguyen Thien Tuan – Chairman of DIC Group speaking at the event.

Photo 3: Mr. Nguyen Hung Cuong – Vice Chairman of DIC Group presented the report of the Board of Directors for the third term (2018 - 2022) and orientation for the fourth term (2023 - 2027).

At the meeting, Mr. Nguyen Quang Tin – General Director of DIC Group presented the report of the Board of Directors on the results of construction and construction in 2022 and the plan for 2023. At the end of 2022, DIC Group recorded consolidated revenue of VND 2,012 billion; profit before tax reached VND 199 billion.

Photo 4: Mr. Nguyen Quang Tin – General Director of DIC Group presented the report on business results in 2022 and the direction of the business plan in 2023.

2023 is forecast to be a continued difficult year for real estate businesses. "Capital preservation, striving for profits to pay dividends, ensuring workers' lives and investors' interests are DIC Group's top priorities in planning business strategies in 2023", Mr. Nguyen Quang Tin – General Director of DIC Group emphasized.

The AGM approved the business plan in 2023 with specific targets: Parent Company revenue: VND 3,600 billion (up 188.3% compared to 2022); Consolidated revenue: VND 4,000 billion (up 98% compared to 2022); Total investment capital for the development of the parent company: VND 4,138 billion (up 19.1% compared to the implementation in 2022); Total profit before tax of the parent company: VND 1,430 billion (up 747% compared to 2022); Consolidated profit before tax: VND 1,400 billion (up 604%); Dividend: 8-15%; Charter capital: VND 6,500 – 7,000 billion.

Regarding development investment in 2023, the capital is expected to be VND 4,138 billion. In which, the projects are implementing nearly VND 2,760 billion; research projects investing nearly VND 96 billion; land rent/land use nearly VND 1,253 billion and financial investment VND 30 billion.

In Q4/2022 and Q1/2023, DIC Group has successfully repurchased VND 2,600 billion of bonds before maturity. Thus, DIC Group's bond balance is currently only VND 900 billion. This is a great effort of DIC Group in reducing financial cost pressure in the context that each business has to overcome difficulties to survive.
 

ADJUSTMENT OF TOTAL INVESTMENT IN CHI LINH CENTRAL AREA PROJECT

The AGM also unanimously approved the adjustment of the investment project to build Chi Linh Center (Scale: 99.7 ha) in Vung Tau City. Specifically, this project has been approved by the Prime Minister since 1996, approved by the Ministry of Construction to adjust the total amount for the second time to VND 1,113.36 billion in 2009. After nearly 15 years, this total investment is no longer suitable due to escalating prices (cost of construction materials, land price for site clearance compensation, skyrocketing land costs...).

Besides, according to the plan, in the current project, there are 3 apartment clusters that have not been invested in construction. Therefore, for legal convenience, DIC Group proposes to add the investment cost of these 3 apartment clusters to the total investment. Accordingly, the total investment of the urban area after adjustment is: VND 9,624 billion.

The representative of the business affirmed: "Although the total investment has increased compared to the past, this project is still economically effective for the Investor and brings socio-economic benefits to the locality. In addition, DIC Group's Board of Directors also wishes to fulfill the responsibilities assigned by the Prime Minister in creating a model urban area of Vung Tau City".

ELECTION OF DIC GROUP BOARD OF DIRECTORS FOR THE FOURTH TERM (2023 – 2027)

The meeting proceeded to elect members of the Board of Directors for a new term. On the same day, immediately after the General Meeting ended, the first Board of Directors meeting of the new term was held. Accordingly, Mr. Nguyen Thien Tuan continues to hold the position of Chairman of DIC Group. The list and titles of members of the Board of Directors of DIC Group for the fourth term (2023 – 2027) are as follows:

1. Mr. Nguyen Thien Tuan – Chairman of the Board of Directors.

2. Mr. Nguyen Hung Cuong – Vice Chairman of the Board of Directors.

3. Ms. Nguyen Thi Thanh Huyen – Vice Chairwoman of the Board of Directors.

4. Mr. Nguyen Quang Tin – General Director; Member of the Board of Directors.

5. Mr. Dinh Hong Ky – Independent member of the Board of Directors.

Photo 5: Launch of DIC Group's Board of Directors for the fourth term (2023 – 2027).

Sharing about the development orientation, Mr. Nguyen Thien Tuan – Chairman of DIC Group said: "In the period of 2023 – 2027, the targets of revenue, profit, development investment capital, dividends of DIC Group are expected to grow by 15-30% compared to the period of 2018 – 2022".
 

Communication Department