Hoang Anh Gia Lai (HAGL) reported an after-tax profit of VND1,180 billion ($50.32 million) in 2022, an almost six-fold increase year-on-year and a record high since 2015.
This positive figure was supported by a full-year 2021 provision of more than VND1,561 billion ($66.57 million).
In 2022, the corporation's net revenue was VND5,081 billion ($216.7 million), a year-on-year two-fold rise. Of this, fruit and pork sales reached VND3,819 billion ($162.86 million), equal to 75% of the total.
HAGL's business cash flow in 2022 recorded a negative VND206.4 billion ($8.8 million). This is the fifth consecutive financial year the corporation has suffered the situation. This means it is facing pressure to seek additional capital sources by searching for more loans or selling some assets.
In the fourth quarter of 2022, HAGL's net revenue reached VND1,609 billion ($68.61 million), and after-tax profit was VND288 billion ($12.28 million), up 119% and up 195% year-on-year, respectively.
As of December 30, 2022, the company's total assets were VND19,951 billion ($850.8 million), up 8% compared to the beginning of the year. Total liabilities stood at VND14,710 billion ($627.3 million), up 6%.
Specifically, short-term loans were VND3,460 billion ($147.55 million), up 37%, while long-term loans reached VND4,818 billion ($205.46 million), down 16%.
Its bond loans, with issuance costs deducted, at issuers hit VND5,742 billion ($244.87 million), equivalent to 39% of the company's total debts, down 10.7% compared to the end of 2021.
HAGL already has three bond issues. The first is for VND5,271 billion ($224.78 million), issued by BIDV and the lender's securities company on December 30, 2016, to be due on December 30, 2026. Another is VND200 billion ($8.53 million) issued by TPBank on October 28, 2020, to be due on October 28, 2024. The third is for VND300 billion ($12.79 million) issued by ACB Securities Co. on April 25, 2012, to be due on June 18, 2023.
The Ho Chi Minh Stock Exchange announced on October 11, 2022 a change in the status of HAG shares of Hoang Anh Gia Lai from “controlled” to “warning” because its after-tax profit in 2021 was VND203.3 billion ($8.42 million) and the undistributed after-tax profit as of December 31, 2021 was a negative VND4,467 billion ($185 million).