Nam Long (HOSE: NLG) celebrates 30 years of development with breakthrough goals for 2022

On April 23, 2022, at Lotte Saigon Hotel, Nam Long Investment Corporate (HOSE: NLG) has successfully held the Annual Shareholders Meeting to report 2021 business results and approve the business plan, profit distribution, and dividend payment plan in 2022 with the consensus of the majority of shareholders attending.

2021 is the first year that Nam Long restructures and operates under the Business Unit model following the 10-year strategic plan for 2021-2030. Although it was a challenging year amidst restructuring and impacts of the Covid-19 pandemic, this is the first year that Nam Long achieved a profit of over VND 1,000 billion and the share price broke record at VND 65,200 VND/share in December 2021. NLG's 2021 total revenue was recorded at VND 5,206 billion, 2.3 times higher than in 2020, and exceeded 5% of the plan. The Company's gross profit recorded more than VND 1,778 billion, 2.7 times higher than 2020. The gross profit margin increased from 30% to more than 34%. tăng từ 30% lên hơn 34%.

Chairman Nguyen Xuan Quang spoke at the meeting

In this year’s meeting, shareholders approved the 2022 business plan which proposed a sales revenue of VND 23,375 billion, net revenue of VND 7,151 billion, profit after tax of VND 1,526 billion, and profit after tax of the parent company’s shareholders of VND 1,206 billion. Nam Long also proposes to pay 10% dividends in cash in 2022.

2022 also marks the 30-year milestone of Nam Long's establishment. The company has announced 2022 goals to realize the vision for 2021-2030:

● Becoming an integrated township developer

- Simultaneously launch multiple townships including Southgate (Waterpoint phase 1- 165 hectares), Mizuki 26 hectares, Izumi City (170 hectares), Akari (8 hectares), Nam Long - Can Tho (43 hectares), Nam Long Dai Phuoc (45 hectares), etc. targeting total sales of USD 2 billion in the next 3 years.

- Diversify housing segment in townships: add new mid-end and high-end products, maintain leading products in the "affordable" segment with stable demand such as EHome, Flora, and Valora.

- Expand the business into commercial real estate, and township management, and invest in ecosystems servicing living, working, playing, shopping, and learning needs following the integrated township model.

● Accelerating corporate transformation programs to support growth in 10 years

Complete and put into use the ERP and ERM systems, improve the success rate of strategy execution and business goals, and ensure revenue growth to meet the expectations of shareholders, investors, partners, and customers.

● Establish win-win partnerships on the basis of developing and succeeding together.

Strengthen relationships with investors that have strong financial and solid experience such as Nishitetsu, Hankyu Hanshin (Japan), TBS Group, etc. to jointly develop and operate products and integrated townships. Besides, cooperate with contractors to standardize the supply chain, helping to accelerate project development, save time and costs and improve project development efficiency.

Since the beginning of the year, Nam Long has recorded VND 6,000 billion in presales and received an investment of VND 1,000 billion (USD 44 million) from IFC (under the World Bank) for Waterpoint phase 2 in Long An through the purchase of bonds issued by NLG.

Source: Nam Long Group (HOSE:NLG)