Business

Viglacera’s earnings better than expected this year

Increasing demand for green, environmentally-friendly materials and devices may help Viglacera earn higher-than-expected pre-tax profits this year.
Viglacera’s earnings better than expected this year ảnh 1At the annual general meeting of shareholders of VGC (Photo cafef.vn)

Hanoi (VNA) - Increasing demand for green, environmentally-friendlymaterials and devices may help Viglacera earn higher-than-expected pre-taxprofits this year.

Thelargest ceramic and tile producer by market value expected actualfull-year pre-tax profit to beat projections by nearly 16 percent, heard thefirm’s annual shareholder meeting on June 26.

Viglacerahad previously set a 2019 target of 9.3 trillion VND (399.2 million USD) in totalrevenue and 950 billion VND (40.8 million USD) in pre-tax profit. The figures wouldmark an increase of 5.5 percent and 12.2 percent year-on-year.

Butactual earnings this year may reach 1.1 trillion VND (47.2 million USD) in pre-tax profit, 15.8 percenthigher than the original forecast.

Accordingto the firm’s management board, pre-tax profit of 1.1 trillion VND was feasible.

In thefirst half of the year, the group estimated pre-tax profit of its parentunit was 422 billion VND, accounting for 65 percent of theannual target. 

Thecompany attributed its confidence in future growth to high demand for greenbuilding materials and said it would make further investments in thisarea.

Thecompany acknowledged difficulties ahead as the property market was showingsigns of slowing down and Chinese products were becoming more competitive.

However,the signing of the Europe Union-Vietnam Free Trade Agreement (EVFTA) may offerthe firm new opportunities abroad for glass exports.

Inaddition, chances will come from stronger market purchases of solar energy. Thesolar energy sector has grown strongly in recent years, especially in thesouth central region.

TheMinistry of Construction will continue to sell the State capital it holdsin Viglacera to zero percent by early 2020 in accordance with the PrimeMinister’s Decision 1232/QD-TTg dated August 17, 2017.

Theconstruction ministry is holding 173 million Viglacera shares, equal to a 38.6 percentstake in the company.

Theministry sold 69 million Viglacera shares – accounting for 85 percent of totalshares offered for sale – at an auction on March 29 for 1.58 trillion VND.

In 2018,Viglacera posted 8.8 trillion VND (377.8 million USD) in total revenue, down 4.2 percentyear-on-year. Its post-tax profit last year fell 10.7 percent to 667 billionVND (28.6 million USD).-VNA

VNA
#increasing demand #green #environmentally-friendly materials #Viglacera #pre-tax profits #shareholder meeting #Europe Union-Vietnam Free Trade Agreement (EVFTA) #Vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

See more

A Vinh Long official introduces signature local products to Korean guests. (Photo: VNA)

Vinh Long courts Korean investment in key sectors

Vice Chairman of the provincial People’s Committee Nguyen Truc Son vowed to accompany investors and provide them with optimal conditions, while building a transparent and stable business environment to secure long-term engagement from foreign enterprises, particularly those from Daejeon.

Delegates at the launching ceremony (Photo: VNA)

Digital platform on overseas market development launched

With Vietnam’s network of 64 trade offices overseas, Deputy PM Son noted that connecting them through a modern digital platform could help establish a unified national trade information system that operates efficiently, transparently and with strong forecasting capacity.

The Government’s issuance of Decree No. 72/2026/ND-CP revising preferential import tariffs on several petrol products and raw materials is a timely move to diversify supply sources. (Photo: VNA)

Fuel import tariff cuts strengthen Vietnam’s energy resilience: experts

Economic expert Dinh Trong Thinh said revising fuel import tariffs helps diversify supply sources and reduce reliance on traditional markets, thereby strengthening Vietnam’s ability to cope with potential global supply shocks. Ensuring access to multiple energy sources is also vital for safeguarding national energy security, he added.

Leaders of Dak Lak province inspect IUU fishing prevention and control efforts at Phu Lac fishing port, Hoa Hiep ward. (Photo: daklak.gov.vn)

Dak Lak readies for EC mission on anti-IUU fishing efforts

Dak Lak province is completing preparations for an upcoming European Commission (EC) inspection on efforts to combat illegal, unreported and unregulated (IUU) fishing, with a view to having the fisheries “yellow card” removed.

Vietnamese Ambassador to Argentina Ngo Minh Nguyet speaks at the event. (Photo: VNA)

Vietnam, Argentina promote trade, investment cooperation

On relations with South America, Nguyet noted that in December 2025, Vietnam and the Southern Common Market (MERCOSUR) announced the launch of negotiations for a Preferential Trade Agreement (PTA). She expressed her hope that the agreement will be signed soon, thereby further boosting trade and investment between Vietnam and MERCOSUR member states, including Argentina.

Customers buy petrol at a Petrolimex petrol station in Tran Hung Dao ward, Hung Yen province. (Photo: VNA)

PM orders stronger measures to ensure stable petrol supply

The MoIT was instructed to direct key petrol producers and traders to proactively develop supply plans to guarantee adequate fuel provision for distribution systems, maintain regular sale operations, and sell products at listed prices. It must also closely monitor developments in global and domestic petrol markets and adopt appropriate management measures when necessary.

Farmers in Ca Mau province use combine harvesters to harvest rice. (Photo: VNA)

PM orders coordinated measures to stabilise rice production and markets

The Minister of Agriculture and Environment is tasked with instructing local authorities to closely monitor production developments, improve forecasting capacity, strengthen pest control measures, and proactively respond to adverse weather conditions to protect crops, maintain planned yields and output, and reduce production costs.

A worker refuels a vehicle at a petrol station in Hung Yen province. (Photo: VNA)

Fuel prices slashed as stabilisation fund used

According to a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the price of RON95-III petrol – the most widely used grade – fell by 3,880 VND to 25,240 VND (0.95 USD) per litre.

Customers purchase petrol at Station No. 03 (Petrolimex Hung Yen) on Quang Trung Street, Tran Hung Dao ward, Hung Yen province. (Photo: VNA)

Hung Yen takes measures to curb speculation, stabilise fuel market

Petrolimex Hung Yen maintains regular reserves of about 5,500 cubic metres at directly managed outlets and roughly 2,000 cubic metres at franchised stations. The provincial Department of Industry and Trade has ordered closer monitoring of supply and demand and retail prices to detect shortages or unjustified price hikes.

The automobile assembly line of the Honda Phuc Yen factory in Phu Tho province (Photo: VNA)

Honda Vietnam sees decline in motorcycle, car sales

Sales of both motorcycles and automobiles by Honda Vietnam declined in February, dropping 19.6% and 41.8% year-on-year, respectively, according to the company’s latest business results released on March 11.