Vicostone publishes audited financial report in 2020

On March 2021, Vicostone Joint Stock Company (VCS), a member of Phenikaa Group, published its 2020 consolidated financial report audited by Ernst & Young. In 2020, Vicostone's total asset reached VND 6.05 trillion, up 8 per cent compared to 2019, revenue reached over VND 5.65 trillion, while its pre-tax profit reached VND 1.66 trillion. These were considered positive achievements, which came as a result of fter the endeavor foresight, determination awareness of imminent threats and awareness careful execution of evasive actions performed as directed by The Group Company’s leadership. These thoughtful oversight sufficiently to prepared the company for potential risks and allowing us to and respond quickly to unpredictable changes of in the global economy.

The year of 2020, was full of shocks and difficulties brought about by the COVID-19 pandemic. Trade wars and political uncertainties took a toll the global community and Viet Nam was no exception. Vicostone managed to overcome the difficulties imposed by the pandemic and recovered almost immediately on the principals of high adaptability, responsive transformation and profound governance. In spite of these challenged our company managed to stabilize its operation and even recorded some achievements. In particular, we achieved an increase in total net revenue of 1.7% YOY to about VND5,660 billion and pre-tax profit was near VND1,668 billion. These figures essentially met the earnings targets approved at the Annual General Shareholders’ Meeting 2020.

Although the growth rate was not as expected compared to previous years, but also return on average asset (ROAA), return on average equity (ROAE) in 2020 stood at 24.55 per cent & 39.10 percent, respectively, earnings per share (EPS) wat 8,251. Besides, current ratio, liquidity ratio and quick ratio remained at a high level, 2.76, 2.45 & 1.44, respectively, giving the Company control over its financial situation and ensuring liquidity.