On April 28, the Sonadezi Industrial Park Development Corporation (Ticker symbol: SNZ) held the Annual General Meeting (AGM) 2020. The AGM acknowledged Sonadezi’s efforts and performance in 2019 with strong growth performance.
According to the annual report 2019, all indicators of the parent company – Sonadezi Corporation grew compared to 2018, even exceeded the annual plan. Sonadezi’s total revenue reached VND 527.925 billion, up 37.17% compared to 2018 and equal to 109.88% of the annual target. Sonadezi’s total revenue structure includes revenue from financial investment, business activities in Chau Duc Industrial Park and others.
In 2019, Sonadezi started to have revenue from leasing its land bank in Chau Duc Industrial Park
Along with its growth in total revenue, Sonadezi generated VND 367,159 billion in profit after tax, up 25.42% compared to 2018 and equal to 121.66% of the annual target while its tax payable was VND 68.856 billion, up 171.84% compared to 2018 and 141.88% compared to the annual plan and its return on equity was 9.68%, a joy growth of 24.89% and equal to 121.61% of the annual target.
As of December 31, 2019, Sonadezi’s total value of investments in subsidiaries (VND 1,808 billion), affiliates (VND 901 billion) and other units (VND 129 billion) was VND 2,838 billion. Most of these investments are effective for capital preservation and growth.
In 2019, in addition to efforts to improve the efficiency of financial investing activities, Sonadezi delivered many outstanding activities such as promoting investment procedures for the 300-ha Tan Duc Industrial Park project in Tan Duc commune, Ham Tan district, Binh Thuan province. Sonadezi also improved the quality of its products and services by research and installation of rooftop solar systems and improvement of industrial wastewater treatment technology, etc.
With its performance, Sonadezi’s AGM approved the 2019 dividend rate of 9%. It also approved the business plan 2020, expecting that it would generate VND 4,583,944 billion in total revenue and VND 914.852 billion in profit after tax while its tax payable would be VND 461.330 billion and its return on equity would be 13.16%.
The parent company alone is expected to generate VND 604.369 billion in total revenue and VND 416.696 billion in profit after while its tax payable will be VND 76.549 billion and its return on equity will be 10.94%.
In 2020, Sonadezi will start constructing the Tan Duc Industrial Park project
In order to complete the business plan 2020 as well as achieve the growth targets for the period 2020 – 2025, in addition to the ongoing projects, Sonadezi will start development of the Tan Duc Industrial Park, speeding up its construction of factories for lease in phase 1 on an area of 2.6 ha in Chau Duc Industrial Park. It will promote research, search and development of a number of industrial and residential projects.
In 2020, Sonadezi will further divest its investment in other enterprises and divest state capital in the Corporation as guided by the People’s Committee of Dong Nai province and the Prime Minister’s Decision.
In 2019, thanks to efforts of the parent company and its subsidiaries, Sonadezi generated VND 5,229,871 billion in total revenue, or 117.95% of the annual plan and VND 1,163,953 billion in profit after tax, or 140.26% of the plan. Also, its tax payable was VND 774,474 billion, or 184.16% of the plan and its return on equity was 17.08%, or 140% of the annual target
