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VICOSTONE AMONG THE TOP 10 COMPANIES IN VIET NAM IN CORPORATE GOVERNANCE
On September 23rd, 2019, VICOSTONE (a member of PHENIKAA Group) was recognized as one of the top 10 companies in Viet Nam in corporate governance and as the leading company in the construction industry in financial management capacity
This recognition is part of the “Assessment of business operation capability - Vietnam the Best Company” program, implemented under the guidance of the Vietnam Chamber of Commerce and Industry (VCCI), with the participation of the Business Forum Newspaper, Institute of Business Studies and Development (INBUS), Vietnam Association of Accountants and Auditors (VAA), Vietnam Association of Corporate Directors. This is the assessment result of 1,566 listed companies in three stock exchanges HOSE, HNX, UPCoM across 32 industries through their 2018 Prospectuses and publicly available information. The assessment included 21 criteria in 6 categories reflecting corporation's holistic business performance including: corporate governance capacity, solvency, Business results, Financial Leverage, Revenue and Profit, and Capital Adequacy Ratio.
Mr. Pham Anh Tuan, General Director of VICOSTONE shared: “2018 continued to be a year of impressive business results for VICOSTONE during the 2014 to 2018 lustrum. Aside from developing a corporate governance system that strictly observes the rule-of-law in Viet Nam, VICOSTONE has simultaneously applied internationally-recognized OECD and IFC norms to supervise, regulate and monitor company's business activities professionally, transparently and effectively, ensuring sustainable benefits for shareholders, balancing the interests of related parties.”
Ms. Dao Mai Lan, Director of Communications of PHENIKAA Group (center) represented VICOSTONE in accepting the honor
In 2018, VICOSTONE's total revenue was 4.5645 trillion VND. Financial capability saw strong development, capital resources for business activities and to ensure shareholders' interests remained stable. Post-tax profit/net revenue was 24.85%, Return on Average Equity (ROAE) remained high at 43.83%. In addition, solvency ratios remained high (current solvency ratio is 2.63; short-term solvency ratio is 2.27 and quick solvency ratio is 1.08) which helped VICOSTONE take control of finances, ensuring solvency. Average income of nearly 700 employees is over 18.68 million Dong/person/month, an increase of 9.94% in comparison to 2017.
In the first six months of 2019, VICOSTONE's revenue was 2.53972 trillion VND, an increase of 17% year-on-year, profit after tax was 670.25 billion VND, a 29% year-on-year increase. Earnings per share (EPS) was roughly 3,933 VND. In addition, VICOSTONE has completed the transfer of PHENIKAA Group's total equity at Phenikaa Hue Mineral Processing & Investment Single-Member Limited Company, with the goal of self-sufficiency of input materials, and to continue to maintain sustainable development.
Since the beginning of 2019, VICOSTONE has continuously received prestigious awards such as the Top 10 prestigious construction material company, top 50 Best Performing Company in Viet Nam in 2019, Viet Nam's Strong brand in 2019...
Vicostone commits to creating and maintaining a sustainable working environment for our employees. We always encourage employees to develop their potential to get more experience and higher promotion at work.