In its explanation of the losses in the first six months of the year, the company reported a loss of 99 billion VND in its production and business operations for the first six months of 2024, a reduction of 380 billion VND compared to the first six months of 2023. The main reason for this was unfavorable production conditions due to erratic weather patterns, including intense heat and frequent thunderstorms, particularly multiple lightning strikes that severed the company's power transmission lines. This led to unexpected and sudden shutdowns of production lines, significantly impacting equipment. The company attempted to rectify the power grid issues, but upon restarting the machinery, discovered equipment leaks, requiring extended shutdowns for repairs and major overhauls. As a result, operating time was reduced by 45 days compared to the plan, and no products were produced.
Businesses suffer losses due to repeated lightning strikes.
At the same time, another reason for the losses is the high price of input materials, especially coal.
The company announced its audited semi-annual financial report for 2024 with unchanged figures compared to the unaudited report. Accordingly, half-year revenue reached nearly VND 2,000 billion, a 6% decrease compared to the same period last year; the after-tax loss was VND 99 billion (compared to a loss of VND 480 billion in the same period last year). The company achieved 42% of its revenue target and is still far from the pre-tax profit target of VND 195 billion approved by the 2024 shareholders' meeting.
At the end of June, DHB's total assets decreased by 8% compared to the beginning of the year, to over 6,225 billion VND. Of this, short-term assets amounted to only about 963 billion VND, a decrease of 20%, with over 252 billion VND being cash and deposits (-26%); inventory was 478 billion VND, a decrease of 21%...
Source: https://thanhnien.vn/cong-ty-kinh-doanh-thua-lo-do-set-danh-nhieu-lan-185240808150335645.htm
