CADIVI's General Shareholders' Meeting approves the pre-tax profit target of 450 billion Vietnamese dong for the year 2023.

The annual General Shareholders' Meeting (GSM) of Vietnam Electric Cable Corporation (CADIVI) for the year 2023 was held online.

In the report on the business performance for the year 2022, Mr. Le Quang Dinh, Member of the Board of Directors and CEO of CADIVI, stated that despite the challenges posed by high inflation affecting business operations, CADIVI achieved a consolidated net revenue of 11,334 billion Vietnamese dong, fulfilling 94% of the 2022 plan. The consolidated pre-tax profit reached 482 billion Vietnamese dong, equivalent to 92% of the plan.

Notably, in 2022, CADIVI implemented various digitalization policies and successfully operated the SAP S/4HANA enterprise management system, digitizing the entire business operations of the company.

Regarding the financial situation, as of December 31, 2022, CADIVI's total assets reached 4,710 billion Vietnamese dong. The company actively settled over 730 billion in short-term borrowings and over 99 billion in long-term borrowings, reducing risks and pressures from macroeconomic fluctuations, thereby focusing on enhancing operational efficiency through internal resources.

In 2022, CADIVI continued to maintain its position as the "number one market share in Vietnam" (2021-2023), being a trusted brand by customers with a widespread distribution network of agents across the country (according to the market survey results of the High-Quality Vietnamese Goods Business Association). The company was also voted as the Vietnam National Brand for the 8th consecutive time.

Inside the CADIVI factory

The company's leadership has assessed that the market will continue to face unpredictable fluctuations in 2023. Therefore, CADIVI has set a target for consolidated revenue to reach 12,079 billion Vietnamese dong and consolidated pre-tax profit to reach 450 billion Vietnamese dong, equivalent to 107% and 93% respectively compared to the performance in 2022.

To achieve these targets, the leadership has outlined specific directions and solutions, with a focus on business operations, marketing, production, and research and development of products.

In terms of the domestic market, CADIVI aims to maintain its market position through a transparent sales system and strengthen relationships with distributors through customer conferences. The company will focus on traditional products that contribute to high revenue and profit. As for the export market, CADIVI plans to retain existing partners, increase revenue in these markets, and actively explore new partnerships and potential markets.