In 2022, BV Land plans a profit of 145.6 billion VND, nearly 5 times higher than the previous year. In

addition, the company also plans to increase charter capital to more than 1,000 billion dong and list

shares on HoSE.

 

BV Land Joint Stock Company (code BVL) has just announced the report of the 2022 Annual General Meeting of Shareholders, which is expected to submit to shareholders for approval of an ambitious business plan. Specifically, the company sets a target of consolidated revenue of 1,918 billion dong, more than 3 times higher than the same period of the previous year and profit (PBT) of more than 145.6 billion dong, nearly 5 times higher than the performance in 2021.

BVL’s revenue, profit and equity has been increasing year by year

Previously, BV Land also recorded high growth in 2021 with consolidated revenue of nearly 600 billion dong and EBT of 30.6 billion dong, up 192% and 201% respectively over the same period of the previous year. Although the company only fulfilled 89% of the revenue plan, the company exceeded the profit target set for the whole year of 2021.

Thus, after less than 1 year of becoming a public company and trading on the stock market, BV Land has taken spectacular growth steps, continuously breaking out, in terms of revenue, profit and capital indicators. The next year’s owner is higher than the previous year and is calculated in times. In the past year, BV Land has completed and handed over the infrastructure of BV Bavella Lac Ngan project in Phu Tho and completed the rough part of 2 BV Diamond Hill apartment towers in Bac Giang.

In addition, the company and a consortium of companies under BV Group were selected as investors in 2 projects, namely Thanh Ba New Urban Area in Phu Tho and Tay Dinh Tri Urban Area in Bac Giang, and at the same time expended money for investment, funding and planning for a number of projects in the two provinces mentioned above.

An important document that BV Land will submit to shareholders for approval at the next AGM is the plan to offer shares to existing shareholders to increase charter capital. Accordingly, the company is expected to issue nearly 43 million shares at ratio of 100:75. The charter capital after the issuance will increase from 573 billion VND to more than 1,000 billion VND. The implementation time is expected in 2022 after being approved by the State Securities Commission.

The offering price is 10,000 VND/share, equivalent to the mobilized amount of nearly 430 billion VND, which is expected to be used by BV Land to invest in the development of the Thanh Ba Urban Area project in Phu Tho. The project has an estimated total investment of more than 1,180 billion VND with an area of ​​​​225,575.6 m2. The investor is BV Land Joint Venture, Bach Viet Group (BV Group) and Lilama Invest (a subsidiary of BV Land).

In addition, BV Land will also submit to shareholders for approval of the listing transfer to HoSE in order to move towards a more professional stock market, creating favorable conditions for raising capital for business activities, enhancing its brand and finding strategic partners to strengthen the company’s capacity. Listing on HoSE will also create pressure on governance, increase transparency in operating activities, attract more talents for the company and increase benefits for shareholders.

Shareholders of BV Land will authorize the Board of Directors to choose an appropriate time to list BVL shares on HoSE in 2022 or another time suitable to the market situation and actual conditions. Also, in the production and business plan submitted to the 2022 general meeting of shareholders, BV Land’s Board of Directors aims to have 4 to 6 more projects assigned as investors, and continue to develop projects in other markets.