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Coteccons (CTD) eyes high growth, global expansion
Coteccons Construction Joint Stock Company (HOSE: CTD) targets revenue of VNĐ25 trillion (US$993.7 million) and profit after tax of VNĐ430 billion ($17 million) for fiscal year 2025 that runs from July 1, 2024 to June 30 next year, up by 18.8 per cent and 38.7 per cent over last year, respectively.
Coteccons executives reply to questions from shareholders at the company’s annual general meeting held in HCM City on October 19. — Photo courtesy of the company
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The targets were announced during its annual general meeting of shareholders in HCM City on October 19.
Chairman Bolat Duisenov said after 20 years, Coteccons has accumulated sufficient experience, vision, ambition, confidence, and most importantly, a young and passionate team ready to take on new challenges and aims to be recognised as the “industry leader.”
The company achieved a compound annual growth rate of 30 per cent over the past three to four years, and strives to sustain an annual growth rate of 20-30 per cent in the next four to five years, while continually raising standards in the construction industry, he said.
Trần Ngọc Hải, deputy CEO and chief commercial officer, said the company achieved outstanding results in fiscal year 2024, with revenue and profit after tax up by 31 per cent and 358 per cent from the preceding fiscal year to reach over VNĐ21 trillion and VNĐ310 billion, respectively.
It secured bids valued at VNĐ22 trillion, with 41 projects attributed to the successful execution of its “repeat sales” strategy. The bid-winning rate in the year reached 58 per cent in comparison with the industry average of 24 per cent, and about 20-30 per cent of itself in previous years.
He mentioned a substantial backlog of VNĐ30 trillion for upcoming years, with backlog for 2025 at VNĐ20 trillion.
He highlighted that in recent years, CTD has focused heavily on the industrial sector to catch the FDI wave into Việt Nam, and now this segment accounts for 50 per cent, while the civil construction sector account for 45 per cent, reflecting diverse revenue sources, enabling the company to grow more stably.
Looking ahead, the company will focus on maintaining growth in civil construction, expanding industrial construction and building foundation for infrastructure construction; expanding into international markets and new business areas; improving profit margins; restructuring its internal system to enhance organisational capabilities; building global brand recognition; and implementing corporate sustainability strategy.
Coteccons has achieved major steps in its global expansion with projects in India, the US and other countries, the company said, adding that while international expansion may take one to three years, possibly longer, Coteccons is confidently on the right trajectory.
The AGM also approved a dividend payment of 10 per cent in cash for the FY2024 and other important proposals.
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