Gelex Group Joint Stock Co · HOSE:GEX
Gelex Group Joint Stock — GELEX Group — Q4 2023 Earnings Presentation
19 slides from Gelex Group Joint Stock's earnings presentation, February 2024
Slide 1: GELEX Group Business Result Presentation Q4 and 2023
GELEX GROUP Business Result Presentation Q4 and 2023
Slide 2: Terms and Acronyms
TERMS AND ACRONYMS GELEX GELEX Group JSC GELEX Infra GELEX Infrastructure JSC GELEX Electric GELEX Electricity JSC EE Electrical Equipment CM Construction Material IP Industrial Park RE Real Estate NR Net Revenue PBT Profit Before Tax GP Gross Profit Bn Billion YoY Year over Year QoQ Quarter over Qu
Slide 3: Vietnam Macroeconomic and Consolidated Business Performance
1 3 Vietnam Macroeconomic Business Performance by Segments In 2023, the global and domestic macroeconomic situation faced The EE sector gradually recovered in H2-2023, while the CM sector numerous challenges. GDP growth reached 5.05%, lower than continued to face difficulties. The Utilities sector o
Slide 4: Vietnam Macroeconomic
1 VIETNAM MACROECONOMIC
Slide 5: Vietnam Macroeconomic: GDP, CPI, Interest Rate, FX
VIETNAM MACROECONOMIC GDP 2023 increased by 5,05% ▪ The 5.05% growth is lower than target due to the impact of global macroeconomic GDP difficulties. ▪ GDP growth showed improvement throughout the quarters (Q1: 3.41%, Q2: 4.25%, Q3: 5.47%, Q4: 6.72%). Inflation was under control CPI ▪ Average CPI 20
Slide 6: Consolidated Business Performance of GELEX Group
2 CONSOLIDATED BUSSINESS PERFORMANCE OF GELEX GROUP
Slide 7: Core Business
CORE BUSINESS 01 ELECTRICAL EQUIPMENT 03 UTILITIES Over 30 years leading in Vietnam electrical equipment market with top Power Generation: invested and operated energy projects with a total capacity of brands, eg: CADIVI, THIBIDI, HEM, EMIC, CFT, MEE. ~260MW and Power Distribution. Continue investin
Slide 8: PBT 2023 Exceeds the Year Plan by 9.2%
PBT 2023 EXCEEDS THE YEAR PLAN BY 9,2% Net Revenue and Profit Before Tax by quarter VND Bn 10,000 8,645 9,069 ▪ Consolidated NR Q4 reached 8,105 bn VND, increased by 8.3 % 7,996 8,105 7,359 7,487 8,000 7,014 6,410 YoY. 6,000 ▪ Consolidated PBT Q4 was only 10 bn VND due to a decrease in 4,000 GP, whi
Slide 9: Net Revenue by Sectors
NET REVENUE BY SECTORS VND Bn Quarterly NR by sectors 8,105 Consolidated NR structure for 2023 100% 10,000 6% 80% 8,000 60% 6,000 15% 40% 4,000 20% 2,000 0% 0 53% 26% EE CM IP&RE Utilities Others Consolidated NR (RHS) EE CM IP&RE Utilities Others ▪ The NR of EE sector continued its recovery in Q4, w
Slide 10: Stable Asset and Capital Structure
STABLE ASSET AND CAPITAL STRUCTURE Asset Structure Unit : billion VND 31/12/22 12/31/23 Y oY (%) Cash and cash Total asset 52,385 55,076 5.1% 6% equivalent 7% Short-term investment Short-term asset 19,800 20,261 2.3% 6% Short-term Long-term asset 32,585 34,815 6.8% receivables 15% Inventory Liabilit
Slide 11: Stable Financial Health
STABLE FINANCIAL HEALTH 31/12/21 31/12/22 31/12/23 Leverage Ratios ▪ Liability/ Total Asset 0.67 0.60 0.62 ▪ Loan/ Equity 1.08 0.80 0.87 ▪ Net Debt/ EBITDA (<=3,5) 1.80 1.57 1.68 Solvency Ratios ▪ Current ratio 1.30 1.15 1.08 ▪ Debt Service Coverage Ratio (DSCR) 2.44 2.32 1.86 (>=1,5) (*) Efficiency
Slide 12: Business Performance by Sectors
BUSSINESS PERFORMANCE 3 BY SECTORS
Slide 13: Business Performance – Electrical Equipment
BUSINESS PERFORMANCE – ELECTRICAL EQUIPMENT ▪ NR of EE sector in Q4 reached 4,780 bn VND, increased by 14,4% QoQ, VND Bn NR and GP of EE sector by quarter increased by 32,6% YoY. Q4 marks the highest NR for the EE sector 6,000 12.9% 14.0% 12.2% 11.3% 11.1% 11.1% since the beginning of the year, than
Slide 14: Business Performance – Construction Materials
BUSINESS PERFORMANCE – CONSTRUCTION MATERIALS VND Bn NR and GP of CM sector by quarter ▪ NR of CM sector in Q4 was 2,072 bn VND, continued to decrease 3,000 26.4% 25.9% 30.0% 2,500 22.3% 25.0% due to low market demand. 2,000 16.8% 20.0% ▪ GP margin in Q4 sharply decreased to 7.4% due to (i) low mark
Slide 15: Business Performance – IP&RE
BUSINESS PERFORMANCE – IP&RE VND Bn NR and GP of IP&RE sector by quarter 2,000 ▪ NR of IP&RE sector in Q4 was 726 billion VND, slightly decreasing 1,800 compared to Q3. NR for 2023 reached 4,484 billion VND, decreased by 14% 1,600 1,400 YoY. 1,200 1,000 800 ▪ GP margin for 2023 reached 48.1%, an inc
Slide 16: Business Performance – Utilities
BUSINESS PERFORMANCE – UTILITIES Bn VND NR, GP of Utilites Sector by quarter Bn VND Energy output by quarter 500 60.0% (mn KWh) 50.0% 200 177 400 40.0% 300 150 30.0% 200 20.0% 100 100 10.0% 50 0 0.0% Q1-2022Q2-2022Q3-2022Q4-2022Q1-2023Q2-2023Q3-2023Q4-2023 - NR GP GP Margin (RHS) Q1-2022 Q2-2022 Q3-
Slide 17: Highlight Activities
4 HIGHLIGHT ACTIVITIES TANG) DU KN PH TKO, rt } ) Tima 4 \
Slide 18: Highlight Activities in Q4
HIGHLIGHT ACTIVITIES IN Q4 GELEX signs a cooperation agreement in the energy sector VIGLACERA successfully produces the first square meters of with SEMPCORP Industries Ultra Clera Glass in Vietnam Sembcorp is a subsidiary of the global investment conglomerate VIGLACERA is the first Vietnamese compan
Slide 19: Thank you
Thank you Investor Relation Department Add: GELEX Tower, 52 Le Dai Hanh, Hai Ba Trung Dist, Hanoi Tel: +84 24 3972 6245 Fax: +84 24 3972 6282 Website: www.gelex.vn Email: ir@gelex.vn Disclaim: The information contained in this document is provided by GELEX and its member companies for the purpose of