(HSV VIETNAM GROUP) - Hoang Anh Gia Lai Joint Stock Company (HAGL - HoSE: HAG) has just asked to "beg" to pay the interest of 139.6 billion VND on the HAGLBOND16.26 bond lot, the regular interest payment date is June 30. Payment time is expected to be delayed to the third quarter of 2024. As of the end of the second quarter of 2024, Hoang Anh Gia Lai is delaying payment of principal and interest up to 4,364.4 billion VND.
Bau Duc and Hoang Anh Gia Lai are looking forward to a bumper durian crop
Hoang Anh Gia Lai delayed paying interest and principal of VND 4,364.4 billion of bonds
On July 1, Hoang Anh Gia Lai Joint Stock Company (HAGL - HoSE: HAG) announced information on the payment of principal and interest of bond code HAGLBOND16.26. Of which, June 30, 2024 is the payment date of 139.63 billion VND in bond interest with code HAGLBOND16.26. Bau Duc and Hoang Anh Gia Lai are looking forward to a bumper durian crop - Photo 3.
Hoang Anh Gia Lai delayed paying interest and principal of VND 4,364.4 billion of bonds
On July 1, Hoang Anh Gia Lai Joint Stock Company (HAGL - HoSE: HAG) announced information on the payment of principal and interest of bond code HAGLBOND16.26. Of which, June 30, 2024 is the payment date of 139.63 billion VND in bond interest with code HAGLBOND16.26.
Hoang Anh Gia Lai shared that as of June 30, 2024, the total accumulated late payment interest is VND 3,349.4 billion and the total accumulated late payment principal is VND 1,015 billion.
Thus, by the end of the second quarter of 2024, Hoang Anh Gia Lai is delaying payment of principal and interest up to 4,364.4 billion VND.
Explaining the above payment delay, Hoang Anh Gia Lai said it was due to not having collected enough money from the debt of Hoang Anh Gia Lai International Agricultural Joint Stock Company (currently agreed on a three-party debt repayment schedule) and not yet liquidating some of the Company's unprofitable assets.
Hoang Anh Gia Lai plans to pay the remaining amount in the third quarter of 2024.
In terms of business activities, in the first quarter of 2024, Hoang Anh Gia Lai recorded revenue of 1,240.94 billion VND, down 26.9% over the same period, the parent company's profit after tax recorded a profit of 214.88 billion VND, down 26.2% over the same period. Of which, gross profit margin improved from 26.7% to 40.2%.
In fact, despite being profitable in the first quarter of 2024, at the end of the first quarter of 2024, Hoang Anh Gia Lai still had an accumulated loss of 1,452.4 billion VND, equal to 15.7% of charter capital (charter capital is 9,274.7 billion VND).
Regarding the business plan, in 2024, Hoang Anh Gia Lai plans a revenue of 7,750 billion VND, an increase of 20.3% over the same period and an expected profit after tax of 1,320 billion VND, a decrease of 25.9% compared to the implementation in 2023.
Of which, Hoang Anh Gia Lai expects fruit tree revenue to contribute 5,540 billion VND, accounting for 71% of total revenue; Banana-eating pig revenue contributed 1,550 billion VND, accounting for 20% of total revenue; and other products and goods contributed 660 billion VND, accounting for 9% of total revenue.
Hoang Anh Gia Lai Joint Stock Company has expectations for the durian sector in the second half of 2024. Hoang Anh Gia Lai is following the model of 2 trees, 1 child, all 3 products: pigs, durian and bananas are receiving good business reviews. Hoang Anh Gia Lai owns 1,200 hectares of durian in Laos and this year is the first year it produces fruit on an area of 200 - 300 hectares.
Mr. Doan Nguyen Duc-Bau Duc, Chairman of Hoang Anh Gia Lai, informed that many Chinese companies are willing to deposit to buy durian from Hoang Anh Gia Lai at high prices from May when the fruit is still young, but Hoang Anh Gia Lai is not in a hurry to sell. With 300 hectares about to be harvested, the company is expected to have a revenue of hundreds of billions of dong. By 2025 - 2026, this number will reach trillions of dong.
In 2024, durian is expected to make a major contribution to Hoang Anh Gia Lai's revenue when nearly 50% of the area will bear fruit.
From 2012 until now, Hoang Anh Gia Lai has continuously changed its core fields, from real estate to sugarcane and rubber agriculture; then moved to cow farming; moving into the fruit and pig farming sectors; Most recently, we planted durian.
In the coming time, Hoang Anh Gia Lai Company will develop according to the "two trees and one child" model. Among them, banana growing, durian growing and pig raising are the key points that the company is aiming for.
Hoang Anh Gia Lai expects that 2024 revenue will increase dramatically in the third and fourth quarters, when part of the durian area is officially exploited. In particular, durian grown in Vietnam (main crop) will have revenue in August-September 2024 and durian grown in Laos (off-season harvest) will have revenue in October-December 2024.
Currently, durian export packinghouses announce that the price of Monthong (Dona) type 1 durian fluctuates around 82,000 - 84,000 VND/kg, type 2 durian costs 64,000 - 72,000 VND/kg, type 1 Ri 6 durian costs around 60,000 VND/kg, type 2 costs 45,000 - 50,000 VND/kg.
This year, durian exports to the Chinese market are forecast to be colorful because Malaysia is officially allowed to export fresh durian fruit to the Chinese market. On the other hand, according to international media, China brought durian products grown in Hainan to the market this June. However, because of low output, the price of durian products grown in Hainan is relatively high, up to 22 USD/kg (about 560,000 VND). Hoang Anh Gia Lai's durians are therefore completely free from competition in both price and quality.
Ha Diem HSV