Bamboo Capital earns $36 mln in Jan-Sep profit
The Bamboo Capital Group (BCG) earned after-tax profits of VND885.32 billion ($35.65 million) on revenues of VND3,311 billion in the first nine months of the year, up 26.24% and 73.81% year-on-year, respectively.
In the third quarter of the year, BCG earned post-tax profits of VND39.5 billion ($1.59 million), down 81.9%, and posted revenues of VND1,177 billion, up 157.2%.
Major sources of revenues were real estate with VND258 billion, renewable energy with VND272 billion and construction with VND506 billion ($20.38 million).

BCG Vinh Long solar farm in Vinh Long province, Vietnam's Mekong Delta. Photo courtesy of BCG.
The Vietnamese corporation attributed the Q3 fall in post-tax profits to weaker financial revenue due to inactivity in the merger & acquisition (M&A) market, higher general and administrative expenses owing to the merger of three firms in early 2022, difficulties in the real estate market amid typhoons and floods, and other factors.
By September 30, 2022, BCG’s total assets were VND43,752 billion ($1.76 billion), up 16.1% compared to the beginning of the year.
Total liabilities increased 2.7% in the nine-month period to VND30,117. Owner’s equity jumped 63.3% to VND13,634 billion ($549 million) after nine months.
Thanks to its efforts to increase capital and control debt, BCG's financial leverage indicators have improved, the company's financial report states. Its total-debt-to-equity ratio fell from 7.2 by end-2020 to 3.5 by end-2021 and 2.2 by September 30.
BCG’s growth slowed down in the period due to uncertainties in the financial market and the real estate market, reflected in lower revenues than expected from the two sectors.
However, the firm's operations remained stable thanks to cash flows from operating solar power projects. It is expected that the approval of the national power development plan VIII (PDP VIII) will facilitate further growth of the renewable energy sector next year.
In the third quarter, BCG Energy completed work on the Krong Pa 2 solar power project in the Central Highlands province of Gia Lai. In addition to solar power, the company is implementing wind power projects in the southern provinces of Ca Mau and Tra Vinh.
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