HTC Holding misses 2024 revenue, profit targets but eyes 2025 growth

HTC Holding Joint Stock Company (CET) reported consolidated net revenue of VND 85,209,344,106 for 2024, a 9.09% decrease compared to 2023, and a significant miss against its VND 400,000,000,000 plan, achieving only 21.30%. Profit after tax was VND 65,111,617, down 41.65% from 2023 and 1.35% of the planned VND 4,840,000,000. This was primarily due to a strategic decision to halt new orders in the latter half of 2024 to manage risks and restructure its business model amid volatile rice export prices. Gross profit margin, however, saw an improvement to 5.5% from 4.4% in 2023.

Total assets for 2024 stood at VND 71,901,147,689, a 13.5% reduction from 2023, largely due to divestment from An Phat Holding Trading Company Limited. Short-term liabilities significantly decreased by 71.5% to VND 4,480,779,262, improving the current ratio and reducing leverage. For 2025, CET plans to increase profit after tax to VND 104,776,918, a 60.92% increase from 2024, on a projected revenue of VND 55,253,454,306, a 35.16% decrease from 2024. The company will focus on high-quality rice exports, explore other agricultural products, and manage supply chain risks, with no dividend payment planned for 2024.