On April 24, 2022, Deo Ca Traffic Infrastructure Investment Joint Stock Company (Stock code: HHV) held the 2022 Annual General Meeting of Shareholders in an online form.
At the meeting, the Board of Management, Supervisory Board, and Board of Directors gave an overview report of governance, control, and business results in 2021. In addition, the BOM of HHV submit to the General Meeting for consideration and approval many important contents such as: profit distribution plan and dividend payment in 2021, profit distribution plan in 2022; add members of the Board of Directors, etc., and announced the development strategy of the new phase and some other contents.
Overview of HHV Annual General Meeting 2022
According to the report of the Board of Director, 2021 is a difficult year due to the epidemic, but with constant efforts, HHV still recorded an impressive revenue of 981 billion VND, increase of 80.13% compared to 2020. Revenue growth thanks to boosting construction activities at Trung Luong My – Thuan expressway project, Cam Lam – Vinh Hao expressway…
In addition, in 2021, HHV recorded financial revenue of 43.8 billion VND, increase 1.5 times higher than the financial revenue of 2020 (mainly dividends and profits distributed from Phuoc Tuong – Phu Gia BOT JSC, Deo Ca – Khanh Hoa BOT JSC). Thanks to the increased revenue, the profit after tax in 2021 also increased sharply compared to the previous year, reaching 229.7 billion VND (5.6 times higher than the PAT in 2020), the profit after tax ratio / revenue reached 23.41%.
Consolidated revenue in 2021 reached 1,861 billion VND, up 54.94% compared to 2020. Corresponding to revenue growth, consolidated NPAT in 2021 also increased by 65.55% compared to 2020, reaching 290.6 billion VND. Profit after tax/revenue ratio reached 15.61%, up compared to the profit margin in 2020 (14.6%).
With the results achieved, the BOD of HHV has submitted and the General Meeting of Shareholders had approved the plan to pay dividends in 2021 in shares, the payment rate is equivalent to 91.87% of the undistributed PAT according to the HHV’s separate audited financial statements. The issuance time is expected in 2022 after receiving approval from the State Securities Commission.
Besides, HHV sets a target of 2022 with consolidated revenue of 2,515 billion VND, up 35.1%, planned profit of 396 billion VND, up 36%. For operation and maintenance management, the Company continues to perform toll collection at the current toll stations. Notably, this year, HHV participates in the management and operation of Mui Trau tunnel (belonging to La Son – Tuy Loan expressway) and is expected to take over the management and operation of roads and toll stations on Trung Luong – My Thuan Expressway and bidding to manage and operate new road tunnel and expressway projects.
For construction and installation activities, HHV will continue to perform signed contracts transiting from 2021 to 2022 and is expected to perform more bidding packages for Cam Lam – Vinh Hao, Huu Nghi – Chi Lang, Dong Dang – Tra Linh expressways, Binh Dinh coastal road… Especially, HHV has also prepared resources, human resources, machinery and equipment… to be ready for construction of North-South Expressways in the East…
Mr. Ho Minh Hoang raised 5 difficulties that transport infrastructure businesses have to face
In the medium and long-term development strategy, HHV determines to continue to focus on the field of road transport infrastructure, providing closed services with 04 main activities including: Investment in transport infrastructure in the form of PPP; Construction and installation; Management, operation and exploitation of traffic infrastructure works; Investment in real estate development and services attached to the road.
Clearly defining the mission and development strategy to prepare people, make specific work plans, control costs appropriately, HHV confidently steps forward, maintaining its leading position in transport infrastructure management, organizing construction to ensure progress and quality to create works of “real value” for the country, “adding value” for the benefit of partners, shareholders and businesses.
BY TRA MY