Source: thuongtruong.com.vn
Like many other industries, the export of wood and wood products in 2020 has experienced great difficulties due to the COVID-19 epidemic.
However, the second half of 2020 marks an unprecedented record in the wood industry, continuously for 5 consecutive months, from July to November, every month, the wood industry reaches more than $ 1 billion in export value. Even in December, the export of wood and wood products is estimated to be over 1 billion USD. Thereby setting a record for 6 consecutive months, each month is more than 1 billion USD.
The Handicraft and Wood Industry Association of Ho Chi Minh City (Hawa) said that the Vietnamese wood industry had almost no interruption in production, no factories were blocked because of COVID-19 infection.
Therefore, Vietnam’s wood industry not only maintains its export capacity, but can also fill the void due to production interruptions in the wood industry in many countries due to disease outbreaks.
In addition, the rapid and timely change of timber enterprises in advertising and selling in accordance with the epidemic situation has contributed significantly to the good growth of export of wood and wood products, especially Especially in the business results of each enterprise.
The financial statements of the fourth quarter of 2020 of Duc Thanh Wood Processing Joint Stock Company (Ticker: GDT) show that the sales revenue is nearly 125 billion dong, up by nearly 20%, profit after tax is 28 billion dong. 25% higher than the same period last year.
For the whole year 2020, GDT recorded revenue of nearly 403 billion, up 16.6%, profit after tax reached nearly 80 billion, up nearly 8% compared to last year. Thereby, GDT has completed both the revenue and profit plan for 2020.
Notably, the enterprise said it had received many orders for the following year, with a total value of about 3.7 million USD, up 130% over the same period, estimated at 25% of the plan for the whole year 2021.
Similarly, the MDF VRG Quang Tri Joint Stock Company (Code: MDF) has just announced the business results to increase both revenue and profit in the fourth quarter of this year.
According to the financial report of the fourth quarter of 2020 of MDF, the company’s revenue reached more than 348.7 billion, an increase of 18% over the same period last year. Along with the reduction of operating expenses, net profit of the business increased by over 54.3% over the same period last year, reaching 21.3 billion dong.
MDF said that the consumption market in the first months of 2020 was very difficult, partly due to the Tet holidays, the decrease in consumption, and the impact of the COVID-19 epidemic, which affected the import and export market. wood in general and the company’s consumption of MDF wood products in particular.
However, in the fourth quarter, the economic situation prospered, so the company consumed all its inventories and sold wherever it went, so the fourth quarter’s revenue was higher than the same period. Along with low interest fees per unit of products, the business brings higher efficiency, slightly surpassed the annual profit plan.
Another business that also reported strong growth in the second quarter of 2020 was Thuan An Wood Processing Joint Stock Company (Ticker: GTA). According to the financial report of the fourth quarter of 2020, the net revenue of GTA reached nearly 144 billion dong, a decrease of 1.7% but the profit after tax was nearly 6.3 billion dong, up 40% compared to 2019.
The reason for the sharp increase in GTA’s net profit could be that the decrease in COGS, which helped the gross profit turn up by more than 15.6% over the same period. In addition, finance revenue increased by 27%, reaching more than 6.1 billion.
By the end of 2020, the total net revenue will reach 568.2 billion, down 14.3%; Profit after tax reached 18.3 billion, equivalent to the interest earned last year.
With Phu Tai Joint Stock Company (Ticker: PTB), wood segment business results are also a bright spot for the business in 2020 when this enterprise has exceeded 10% of its revenue plan, wood contributes more than 50%.
Specifically, by the end of 2020, Phu Tai achieved VND 5,661 billion of consolidated revenue, a slight increase of 2% compared to 2019.
In which, wood segment reached 3,010 billion VND, exceeding 19% of the plan and accounting for 53% of the revenue structure. The pre-tax profit of the wood segment was VND 223 billion, exceeding 27% of the plan, accounting for more than 48% of PTB’s total net profit.
Meanwhile, revenue of An Cuong Wood Processing Joint Stock Company – an enterprise specializing in wooden furniture declined because the domestic construction market has not recovered yet. Total revenue in the fourth quarter of 2020 of the business has decreased by 18.3% compared to the fourth quarter of 2019, down to 1,208 billion VND.
However, thanks to the decrease in cost of capital and increased revenue from financial activities, An Cuong’s profit after tax increased by more than 30% compared to the same period in 2019, reaching VND 148 billion.
For the whole year, An Cuong’s revenue was more than 3,753 billion VND, down 15.4% but after-tax profit reached nearly 492 billion VND, a slight increase of 1% compared to the result of last year.