EVNFinance seeks 36% profit hike for 2025, strategic investors
EVNFinance, listed on the Ho Chi Minh Stock Exchange as EVF, targets a pre-tax profit of VND960 billion ($37.66 million) in 2025, up 36% compared to the actual figure in 2024.
Logo of EVNFinance. Photo courtesy of the company.
Total assets by the end of the year is expected to hit VND80,000 billion ($3.14 billion), up 34% compared to end-2024.
The figures were mentioned in the documents of Electricity Finance Joint Stock Company's (EVNFinance) 2025 AGM which is scheduled to take place at Muong Thanh Luxury Hotel, 270 Vo Nguyen Giap street in Danang city on April 5.
The company's pre-tax profit in 2024 hit VND703.7 billion ($27.6 million), up 72% year-on-year and exceeding the plan by 20%.
Its bad debt ratio was 0.72%, down from 2023. The minimum capital adequacy ratio (CAR) was 12.47%.
By the end of 2024, EVNFinance's total assets reached VND59,598 billion ($2.34 billion), an increase of 21% compared to the end of 2023, exceeding the plan assigned by the AGM by 9%.
In 2025, EVNFinance aims to enlarge its wholesale and retail customer bases by 15-35% compared to 2024, depending on product groups. In the financial sector, it targets to control the bad debt ratio below 2%, ensuring credit quality and operational safety.
In its board of directors' report on 2024 activities to be presented at the upcoming 2025 AGM, EVNFinance said it has built and gradually implemented plans to search for strategic investors which can bring about long-term values and positive impacts on the company's development.
EVNFinance's future partners are expected to support the firm to enhance financial capacity, expand scale, increase revenue and profit, accumulate expertise in developing new products, acquire technology, and improve the operating process.
Previously, at the 2024 AGM held on March 15, 2024, EVNFinance shareholders approved a proposal to reduce the foreign ownership ratio from 50% to 15%.
At the meeting, EVNFinance's board of directors said that this was to create favorable conditions for domestic investors with potential and desire to become EVF shareholders.
EVF shares closed Monday at 10,550 ($0.41) apiece.
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