In 2023, the rubber latex price of Vietnam Rubber Industry Group (VRG) continues to decrease and the unit forecasts that the situation in 2024 is not very optimistic when the price will still fluctuate at a low level.
According to the report summarizing the situation of production and business activities in 2023 and directions and tasks for 2024 of Vietnam Rubber Industry Group (VRG) released on December 26, the total rubber output of the entire Group this year is 445,000 tons, consuming 520,290 tons of rubber of all kinds (exceeding 2.4% of the plan), an increase of 3.8% over the same period in 2022. Regarding financial indicators, total revenue Consolidated profit is estimated at 24,485 billion VND, consolidated pre-tax profit is estimated at 4,015 billion VND. As for the parent company – VRG Group, revenue and pre-tax profit are estimated at VND 3,872 billion and VND 1,405 billion, respectively.
The year 2024 is forecast to have many difficulties for the rubber production industry. Specifically, the selling price of rubber remains low and difficult to predict; Wood and rubber wood products are forecast to continue to be difficult due to the impact of the domestic real estate market and the economic recession of major countries, so demand and selling prices tend to continue to decrease with no sign of improvement. Positive signs in the short term…
Therefore, VRG’s 2024 plan still identifies potential risks due to the inability to accurately forecast objective and force majeure causes including rubber latex selling price, exchange rate risk, and mechanism difficulties. , policies when returning land to the locality and developing industrial parks and industrial clusters on rubber land… The enterprise sets a pre-tax profit target of VND 4,104 billion, while the parent company’s revenue is VND 3,988 billion. , pre-tax profit is 1,454 billion VND, slightly higher than in 2023.
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According to thesaigontimes.vn
