(ĐTCK) Khanh Hoa Electricity Joint Stock Company (stock code KHP – HOSE) has just announced the first quarter financial report / 2021.
Accordingly, the company’s net revenue from selling goods and providing services reached VND 933.5 billion, down 16% year-on-year, while COGS only decreased by 11.1% to 967.7 billion. VND 34.1 billion in gross profit from sales and service provision, while the same period last year reached nearly VND 27.5 billion. During the period, finance revenue increased from 625 million dong in 2020 to over 5 billion dong; while financial expenses decreased by 11.5% to nearly 12.3 billion.
Besides, selling expense in the first quarter decreased by 12.6% to 13.3 billion dong. In contrast, administrative expenses increased 38.5% to 22.3 billion. As a result, net profit from operating activities was negative 77 billion dong. At the end of the first quarter of 2021, after-tax profit was negative VND 76.7 billion, while the first quarter of 2020 was only negative VND 11.3 billion. The Company said that, due to the impact of Covid-19, electricity bill revenue in the first 3 months of the year decreased by 182 billion VND over the same period, commercial electricity output decreased 72 million kWh, average selling price decreased 73 , 42 dong leads to a loss in the first quarter business results. So, this is the third consecutive year this company reported a loss in the first quarter of the year (the loss in the first quarter of 2019 was 25.44 billion dong). In 2021, KHP aims to achieve total revenue of 4,740 billion VND, a slight increase compared to the implementation of 2020 and profit before tax is expected to reach 50.1 billion VND, equal to 78% of the performance in 2020. By the end of March 31st, the total assets of Khanh Hoa Electricity was VND 1,941 billion, down 4.3% compared to the beginning of the year. In which, accounting for nearly 70% is the total liabilities, equivalent to 1,355 billion dong. The Company’s short-term debt is 556.6 billion dong, long-term debt is 798.7 billion dong.
On the stock market, at the end of the session on April 16, KHP shares fell 0.92% to VND 7,510 / share.
Source: tinnhanhchungkhoan.vn – Translated by fintel.vn