(Vote: DTCK) Gia Lai Power Joint Stock Company (GEC, the Company) has just been honored in the Top 100 Sustain...
(Vote: DTCK) Gia Lai Power Joint Stock Company (GEC, the Company) has just been honored in the Top 100 Sustainable Development Companies 2021 (CSI 2021) after efforts in corporate governance, crib protection, human resources and society throughout the past year.
Specifically, the Vietnam Chamber of Commerce and Industry (VCCI), in collaboration with the Ministries of Labour, Invalids and Social Affairs, the Ministry of Natural Resources and Environment and the General Confederation of Labour of Vietnam, organized the announcement and honor ceremony of sustainable businesses in 2021.
It is an annual activity aimed at motivating sustainable development (development) companies to ensure effective growth and demonstrate responsibility towards the environment and society.
During its 5 years of implementation, the Sustainable Business Assessment and Disclosure Program in Vietnam attracted a large number of companies (about 1,500 companies) operating in different fields nationally.
This year, more than 500 participating companies are evaluated on the basis of the 2021 CSI Index including 119 indicators in 4 areas: Sustainability Performance Index; Governance Index; Environmental and Labour Index - Social index, decentralized in 3 levels for different sizes of companies, from the base to the advanced.
After passing rigorous selection criteria and over 400 companies, GEC first entered the Top 100 Sustainable Development Companies in 2021.
With the motto “The company is a mission, not an advantage”, GEC is aware that social responsibility is part of the company’s business objectives. From 2012 to 2020, GEC contributed nearly VND 14 billion to CSR activities.
GEC is unwavering in its mission as a responsible renewable energy developer and continuously innovates to meet IFC’s environmental and social standards.
GEC projects perform E&S audits at all phases to minimize environmental and community impacts.
Since the company’s inception, total CO emission reductions have been recorded at 7.7 million tonnes.
GEC’s activities will also play a small role in the implementation of the green economy development strategy, bringing net zero emissions to 2050 promised by the Prime Minister at the COP26 climate summit in the UK in November 2021.
Given the specificity of the industry, most of GEC’s renewable power plants are located in remote rural areas. GEC advocated the employment of local workers and active participation in community activities to support local development.
GEG’s consolidated pre-tax and after-tax earnings in the first nine months of 2021 reached 230 billion VND and 211 billion VND, up 9% and 3% respectively over the same period.
The net profit margin remained at 22%, which is the industry average. The company’s advantage in recent years has been its EBIT (earnings before interest and taxes) and EBITDA (earnings before interest, taxes and depreciation) margins of 51% and 80%, higher than the 34% and 46% of medium-sized enterprises operating in the sector, This indicates GEC’s long-term growth outlook.
Over the 5-year period from 2016 to 2020, the gross profit margin, EBIT margin and EBITDA margin all remained at attractive figures above 51%, 44% and 62%.
At September 30, 2021, GEG’s total assets reached 12.560 billion VND, 1.6 times higher than at the beginning of the year due to strong cash and cash equivalents growth.
Via Tin nhanh chung khoan