Hoang Anh Gia Lai International Agriculture Joint Stock Company – HAGL Agrico (HNG) has just released its consolidated financial statements for the fourth quarter of 2022 with revenue down more than 50% to VND151 billion.
Deducting expenses, HNG’s net loss was nearly 2,800 billion dong. This is also the heaviest quarterly loss in HNG’s history. In which, the net loss on business activities is more than 555 billion dong; The loss due to recording the cost of converting orchards was more than VND 2,127 billion and other losses of nearly VND 111 billion.
According to HNG’s explanation, the poor business results were due to the impact of Typhoon Noru at the end of September 2022 and labor shortage in Laos, leading to a 68% decrease in banana harvest compared to the previous year. same period in the fourth quarter of 2021.
The purchase price of fertilizer over the same period in the fourth quarter of 2021 increased by 35%, agricultural materials and packaging increased by 18%. While shipping charges increased by 9% (from $2,198/Cont to $2,390/Cont) compared to the fourth quarter of 2021.
The final reason is that the Company reviewed the accounting books, recorded the unaccounted costs of converting the orchards in 2020 and earlier, including rubber, oil palm and fruit trees with a total costs 2,127 billion VND.
In the whole year of 2022, HNG recorded a revenue of VND 742 billion. Deducting expenses, HNG lost nearly 3,566 billion dong. Correspondingly, increasing the total accumulated loss by the end of 2022 to VND 6,993 billion, “consuming” more than half of the Company’s total equity.
On the other hand, HNG also announced that it had paid the first installment of debt to HAGL (HAG) in the amount of VND 600 billion during the year. Since then, HNG has received the land use right of 9,470 ha and assets owned by Hoang Anh Andoung Meas Co., Ltd (HAG sold to Thaco).
By 2023, HNG plans to do business with an output of 118,529 tons; revenue reached 1,586 billion dong. However, the Company has not announced the detailed profit plan.
For the investment and capital construction plan, HNG plans to invest in fruit trees in 2023 at 440 billion; invested VND 1,055 billion in breeding cows under the semi-grazing model with the scale of 14 stables and imported 14,000 breeding cows.
In addition, HNG will continue to invest an additional 48 billion VND to complete the Nong Khang airport and hand it over to the Lao government from April 2023.
2023 will be the third year that Thaco (represented by Mr. Tran Ba Duong) takes over HNG.
Ending the trading session on January 31, HAG shares increased slightly by 1.17%, at 9,520 dong/share, while HNG stock decreased slightly to 4,600 dong/share.
In the face of positive market movements, securities companies recommend that investors can still expect the market’s ability to increase in the near future, and at the same time consider buying stocks that have have an active accumulation background.
Session 31/01, although it sometimes dropped more than 14 points, and was in the red most of the trading time. However, at the end of the session, a series of stocks reversed to increase with the closing price at the highest level of the day.
Asean Securities Company (Aseansc) forecasts that in the trading session on February 1, a struggle may take place between buying power at the support zone of 1,105 – 1,110 points and selling at the resistance zone of 1,115 – 1,120 points, before there is a divergence. more clearly trending towards the end of the day.
According to DSC Securities, the market confirmed the area around 1,090-1,100 as a short-term support. The index continued to move in the rising price channel with banking codes, securities returned to lead the trade.
Trend opening position at 1,080 points was established, creating impetus for increased liquidity in the medium term. The positive trend will not change if the 1,080 mark is not breached, the short-term target is expected around 1,130 points and the recovering inertia will take place soon in the next session. Investors can increase the proportion when the market corrects.
More optimistic, VDSC Securities said that although the liquidity decreased compared to the previous session, it was still higher than the general level in recent times, showing that the cash flow is still trying to support and absorb profit-taking supply. . With the current support signal, it is likely that the market will continue to increase in the near future to retest the supply pressure. Investors can still expect the market’s ability to increase in the near future, and at the same time, they may consider buying stocks with positive accumulation background.