FORECAST OF CONTAINER THROUGH CAT LAI PORT IMPROVES, TAN CANG LOGISTIC SET PLAN ERROR 2023 INCREASED 5%

According to the document of the 2023 Annual General Meeting of Shareholders, Tan Cang Logistics and Transport Agent Joint Stock Company (Tan Cang Logistic, HoSE: TCL) assesses that Vietnam's economy in 2022 is superior to other countries in the region thanks to On the recovery of spending, exports increased for many quarters, international tourism activity returned.

However, in 2023, political risks from the Russia-Ukraine conflict will continue to affect fuel prices, rising international interest rates, inflation, and the risk of a global recession and commodity demand for export of Vietnam. Meanwhile, the company's infrastructure is mainly rented for a short term, so it may affect production and business and long-term strategies.

Business activities at ICD (inland clearance/inland port) Tan Cang Nhon Trach is expected to grow from 15% compared to 2022, with 380 ICD outlets ready to access more cold goods, striving in the quarter IV/2023 put a warehouse of 5,750 m2 into operation and expanded the yard to increase production capacity.

This year, Tan Cang Logistic will coordinate with expansion partner Depot (the place for emptying containers, repairing containers) Tan Cang My Thuy 2 and look for land to expand the container yard and operating area for the company.

Management said that container throughput through Cat Lai port is expected to increase compared to 2022. Since then, the company has set a financial plan for 2023 with revenue of 1,386 billion VND and profit after tax of 131 billion VND, an increase of 5% compared to the previous year. If completed, 2023 will be the 8th consecutive year of growth in both revenue and profit of this unit. The total value of investment, procurement and major repair is expected to reach 84 billion VND, mainly used for capital construction investment (74 billion VND).

The first quarter results partly reflected the full-year growth plan. According to the financial statements of the first quarter, the company recorded 357 billion dong in revenue and 30 billion dong in profit after tax, up 20% and 27% respectively over the same period last year, fulfilling 26% and 23% of the targets.

Looking back at 2022, the company reported a profit after tax of nearly VND 125 billion, 6% higher than the plan. Therefore, the Board of Directors submitted a dividend payment plan at the rate of 22.31%, owning 1 share received VND 2,231, slightly higher than the 21% approved previously. This dividend is expected to be paid before October 31.

The dividend payout ratio for 2023 is expected to be 22.71%, owning 1 share will receive 2,271 VND, equivalent to nearly 69 billion VND.