For the year 2021, General Meeting of Shareholders of FLC Group targets on achieving the profit of over VND 1,100 billion and joint revenue of over VND 15,000 billion; using the accumulated profit of 2021 to pay dividends at the rate of 10%; and increasing the equity via the issue of shares.
Presiding Board of FLC Group’s 2021 General Meeting of Shareholders
Exceeding the plan in revenue and profit
In 2020, FLC Group was one of the enterprises that are most affected by the pandemic as almost the core business sectors had suffered from direct impacts. Yet, the Group has shown fast recovery since the third trimester of 2020.
In details, the real-estate sector of the Group had witnessed many critical projects reaching practical completion. These include FLC Grand Hotel Quynhon and FLC Sea Tower Office Complex. In the meantime, the construction of FLC Vinh Phuc – Phase 2 and FLC Quang Binh – Phase 2 also commenced.
Besides, many resort establishments of FLC Group in Ha Long, Sam Son and Quy Nhon have shown the average net absorption of 85%. Noticeably, one of the resorts had attained the liquidity of 100%. This resulted in the surge in the total revenue of real-estate in 2020, contributing approximately 20% to the joint turnover.
FLC Grand Hotel Quynhon – The largest hotel in Vietnam
With particular reference to services, hospitality and aviation, the revenue retrieved from these 3 sectors accounts for over 35.4% of the Group’s total turnover, growing by 31% in comparison to 2019.
At the end of 2020, FLC Group obtained the joint revenue of over VND 13,500 billion, the profit-before-tax of over VND 421 billion and the profit-after-tax of VND 308 billion. Such achievements had considerably exceeded the planned target. By the final day of 2020, the total equity of FLC Group reached VND 38,460 billion, increasing by 20% in comparison to the previous year.
2021: triple profit of 2020, dividends of 10%
In 2021, the number of real estate projects that have been developed and ready to launch is is estimated to be nearly 20. Apart from urban projects in Ha Noi, Quang Ninh, Kon Tum, Gia Lai, Dong Thap, etc, a couple of critical resort projects will break ground in potential lands such as Ha Giang and Phu Quoc.
In the field of services, FLC Group has continued promoting pioneering products and services, which have affordable price and outstanding integrated amenities in order to enhance customer experience and catch up the recovery of tourism market in the upcoming time. Among those, the air transport sector sets target of growing the fleet to at least 40 aircraft, expanding the flight network to 70 – 80 routes and occupying approximately 30% of the aviation market shares.
Bamboo Airways targets on 30% of domestic aviation market shares
The General Meeting of Shareholders of FLC Group revealed that the total turnover in 2021 was obtained as VND 15,250 billion (if Bamboo Airways is also taken into account, the joining turnover of 2021 will be VND 30,000 billion). The profit before and after tax is VND 1,100 billion and VND 900 billion respectively, 3-time greater than 2020.
Dividend payment plan based on the accumulated profit of 2021 has also been passed with the rate at 10% (whether the dividends are paid in cash or shares will be decided by the board of management). In additions, 496 million shares will be issued to the current stakeholders in order to raise the equity to VND 12,000 billion in 2021.
It is expected that the issuance of shares will result in nearly VND 5,000 billion, which is going to be adopted to invest in 8 real-estate projects (VND 4,500 billion) and increase the mobilized capital (VND 470 billion).
Besides, FLC Group’s plan to issue VND 2,000 billion of convertible bonds with 3-year term has also been approved with the purpose of supplementing for the capital allocated for Ho Nuoc Ngot urban project in Soc Trang city, Mo Neo eco-tourism resort project in Ha Giang city, Vi Thanh urban project in Vi Thanh city (Hau Giang province).
Dozens of thousands of visitors attending the Opening Ceremony of Flower Festival and Firework Display at FLC Sam Son on April 10th 2021
Up-to-VND 100 billion worth tribute given to major shareholders
At the Grand Meeting, FLC Group also carried out a special tribute program dedicated to stakeholders that possess from 80,000 shares.
In details, FLC Group will issue vouchers and combos as well as special hospitality products to give the stakeholders chances to enjoy the 5-star ecosystem of FLC Group that involves flying with Bamboo Airways, staying at resort and playing golf.
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