On April 28, BV Land Joint Stock Company (code BVL) successfully held the annual general meeting of shareholders for 2022. In which, we approved the report on ‘production and business results of 2021’, business plan for 2022, the report on the plan to issue shares to increase charter capital, and the list of shares on HoSE, etc.

Mr. Le Huy Giang – General Director of BV Land reported at the meeting.

Despite going through a difficult year in 2021, BV Land still achieved impressive results. The company’s consolidated revenue in 2021 reached nearly 600 billion VND, increasing 192% compared to that of 2020. The total profit before tax in 2021 reached more than 30 billion VND, an increase of 201% compared to that of 2020.

According to the consolidated financial statements for the first quarter of 2022, BV Land recorded impressive business results with net revenue of 168.5 billion VND, up 54% over the same period. After deducting expenses and recording other profits, BV Land’s profit before tax was 62.4 billion VND, a sudden increase of nearly 19 times the same period whilst completing 32% of the adjusted profit plan for the whole year.

Entering 2022, BV Land will focus on completing ongoing projects, boosting sales and continuing to expand the market with new projects. Accordingly, the luxury real estate complex BV Diamond Hill will be accepted to complete the entire project and hand over to customers at the beginning of the third quarter of 2022. Bavella Dinh Tri BV urban area project is currently carrying out site clearance work. The design work will be completed in the second quarter of the year and construction will commence in the third quarter of 2022. Bavella Thanh Ba BV urban area project is also in the process of ground clearing, expected to complete design and start construction at the end of the fourth quarter of 2022. In addition, the company and its member unit, Lilama Invest, are applying to adjust the planning and investment approval of the Arecas project with a scale of over 41ha in Hoai Duc, Hanoi.

In parallel with the projects that have been implemented in Bac Giang, Phu Tho, Dong Nai and Hanoi, BV Land will focus on developing projects in new markets of the central and southern coastal provinces to prepare for the long-term plan. The goal in 2022 is that BV Land strives to be assigned as an additional investor from 4 to 6 projects through bidding, auction or project transfer.

Another important piece of content approved by the general meeting of shareholders is the plan to issue shares to increase charter capital. Accordingly, BV Land plans to issue nearly 43 million shares to existing shareholders at the ratio of 100:75, the distribution price is 10,000 VND/share. Post-issuance charter capital is expected to increase from 573 billion VND to more than 1,000 billion VND and will be listed on HoSE.

In order to achieve the set goals, besides project development and market expansion, the company’s management said that it will focus on human resource management, finance, business, and branding. In particular, in terms of human resources, BV Land plans to build a streamlined and optimized organizational model, reducing the intermediary level; building an effective mechanism for decentralization, authorization and assignment of tasks; training to improve the quality of human resources; and planning staff in line with the development strategy. In the financial sector, the company focuses on risk management, cash flow management, successful capital raising issues, good credit relationships and meeting financial needs for projects.

Regarding social work, BV Land continues to accompany the Blue Moon Fund in sponsoring poor children, disaster relief and epidemics, planting forests and actively participating in other charitable and social activities