SD6: Explanation for the difference in profit of the first 09 months of 2019

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SD6: Explanation for the difference in profit of the first 09 months of 2019

HNX - 10/25/2019 9:18:00 AM

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On 15/10/2019, Song Da 6 Joint Stock Company explained the difference in profit of the first 09 months of 2019 as follows:

No.	Targets	First 09 months of 2018	First 09 months of 2019	Rate
A	B	1	2	3 = 2 / 1
1	Total revenue	440,898,389,215	573,210,295,703	130%
2	Total expenses	430,049,691,259	566,791,893,693	132%
3	Profit before tax	10,848,697,956	6,418,402,010	59%
4	Profit after tax	8,708,243,062	5,073,561,158	58%

Profit after tax of the first 09 months of 2019 decreased by 42% year on year because:
+ In the first 09 months of 2019, large constructions which were being implemented by the Company has been completed and handed over to Investor such as XL2 Bidding Package - Parliament buildings, Huoi Quang Hydropower, Dong Nai 5 Hydropower, Song Cho Hydropower, Xekaman 3 Hydropower and Xekaman 1 – Sanxay Hydropower (Laos). The acceptance activities was slower than expectation, therefore, the value of construction in process was very high. Liabilities waiting for settlement and warranty increased. This caused an impact on resources and increased the financial expenses.
+ During the term, the Company moved resources (machineries) to implement the Dak Mi 2 Hydropower Construction at Quang Nam, therefore, expenses increased.
+ Additionally, the Company mainly implemented bidding constructions which have lower profit margin than appointed-contractor constructions as before.

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