At the end of the first 9 months of 2022, Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land, SCR) re...
At the end of the first 9 months of 2022, Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land, SCR) recorded net revenue of 574 billion, mainly from the Carillon 7 project, Charmington La Pointe real estate leasing and center TTC Plaza, Binh Thanh District.
TTC Land recorded a gross profit of 161.6 billion, gross profit margin of 28%, a sharp improvement compared to 18% in the same period.
During the period, TTC Land recorded selling expenses of 56.34 billion, and general and administrative expenses of 73.3 billion, respectively down 47.8% and up 32% compared to the first 9 months of 2021.
Financial expenses increased 23%, recorded 224 billion, of which interest expense 163.8 billion, up 23.5%, it is known that this increase mainly comes from strategic cooperation investment to develop new model real estate products.
Perpective project of Selavia at Vinh Dam Port, Phu Quoc
As a result, TTC Land recorded a pre-tax profit of 183 billion, completing 61% of the plan approved by the General Meeting of Shareholders, profit after tax of 145 billion, net profit margin of 25%, 2 times higher than the same period last year.
Particularly in the third quarter, TTC Land recorded net revenue of 78 billion, profit after tax of 22 billion.
As of September 30, 2022, TTC Land's total assets reached 9.819 billion, a slight increase compared to the beginning of the year. A large proportion still comes from inventory of 2.859 billion, mainly unfinished real estate concentrated in key projects: Jamona City, TTC Plaza Duc Trong,...
Short-term receivables 3.264 billion, long-term 1.330 billion, and long-term financial investments 1.081 billion.
In the capital structure, total liabilities are 4.656 billion, of which total short-term debt and long-term debt is 1.850 billion, the company has a prepayment of more than 948 billion - which will be accounted into revenue when forecasting.
Equity is 5,163 billion, debt/equity ratio is 0.35 times, debt/equity ratio is 0.9 times lower than industry average. Current ratio is 1.9 times, quick ratio is approximately 1.04 times, ensuring solvency is under control.
Recently, TTC Land also announced the payment of a dividend of 8% in shares, the last registration date is October 26, 2022.
In the fourth quarter, TTC Land continued to open for sale the Selavia complex at Vinh Dam Port, Phu Quoc. The scale of the project is 290 ha, covering the whole area, including 167 ha of land and 123 ha of water surface with a coastline of 2.5 km.
Via Nguoi Do Thi