Vicostone's 2025 Annual General Meeting in Hà Nội on Thursday. — Photo courtesy of the company

HÀ NỘI — Vicostone Joint Stock Company, a member of Phenikaa Group, has set a target to achieve net revenues of over VNĐ4.71 trillion (US$183 million) in 2025, marking a 9.2 per cent increase year-on-year.

The company also expects a pre-tax profit of VNĐ975 billion, reflecting a 2.3 per cent rise compared to the previous year.

These ambitious goals were approved by shareholders during the company's 2025 Annual General Meeting in Hà Nội on Thursday.

"Amid unpredictable fluctuations in the global economy and politics, which can significantly disrupt markets and impact production and business activities, Vicostone remains committed to bolstering its internal capabilities," the company said in a statement.

Vicostone emphasised that it is focused on optimising resources and developing flexible adaptation strategies to ensure it can proactively navigate any challenges that may arise.

The company’s top priorities include strengthening risk management effectiveness, optimising costs and enhancing operational efficiency.

Vicostone also aims to boost its competitive position in key markets by improving product quality, staying ahead of design trends, and ensuring full compliance with legal regulations and international standards.

In addition to its focus on risk management and operational efficiency, Vicostone also plans to leverage its core strengths, stabilise its supply chain and improve the quality of its personnel resources, according to the company.

Vicostone said 2024 was a year of significant global turmoil, marked by key events such as the prolonged Russia-Ukraine conflict, tensions in the Middle East and the US presidential election.

These developments, alongside regional economic divergences, impacted global growth prospects. While the world economy avoided recession, economic activity remained below potential and inflation, though cooling, continued to exceed targets in many countries.

The global construction market in 2024 also faced challenges, with inflation and interest rates affecting demand. The rising costs of production and construction, fuelled by geopolitical factors, led to a decline in construction and home repair demand.

Despite these pressures, Vicostone reported a net revenue of over VNĐ4.32 trillion and a pre-tax profit of VNĐ953 billion in 2024, achieving 93.91 per cent and 92.21 per cent of its annual targets, respectively. These results reflect positive performance in a difficult global construction materials market.

The company’s financial health remained strong, with a pre-tax profit/net revenue ratio of 22.06 per cent. Its current ratio and short-term debt ratio are notably high at 4.76 times and 4.13 times, respectively.

Additionally, Vicostone’s inventory turnover ratio improved to 1.41 times, up from 2023, demonstrating effective internal control, cost management and inventory optimisation that ensured continuous production and uninterrupted sales. — VNS