VIX SECURITIES (VIX): PROFIT BEFORE TAX REACHES 907 BILLION VND

VIX Securities Joint Stock Company (stock code VIX – HOSE exchange) has just announced its business situation in the fourth quarter of 2021 and accumulated fiscal year 2021.
Accordingly, in the fourth quarter of 2021, VIX Securities recorded a total revenue increase of 39% over the same period to VND 313.24 billion, pre-tax profit increased by 20.1% to VND 199.1 billion.
In terms of revenue structure in the fourth quarter of 2021, profit from selling financial assets increased by 141% over the same period to VND 148.7 billion and accounted for 47.5% of total revenue; Securities brokerage revenue increased 355% to 83 billion VND and accounted for 26.5% of total revenue; Interest from loans and receivables increased by 354% to 77.2 billion VND and accounted for 24.6% of the company’s total revenue.
In 2021, VIX Securities recorded revenue of 1,569.5 billion VND, pre-tax profit of 907 billion VND, an increase of 118% and 121% respectively compared to performance in 2020.
Of which, profit from selling FVTPL financial assets increased by 319% over the same period to VND 775.9 billion; Dividends and interest arising from FVTPL financial assets increased 155% to VND 244.8 billion; Brokerage revenue increased 483% to 220 billion VND; Interest from loans and receivables increased by 247% to VND 185 billion. In general, at the end of the 2021 fiscal year, all the company’s activities from proprietary trading, brokerage, lending… grew impressively.

It is known that in 2021, the company continues to plan to increase pre-tax profit by 66% compared to 2020 to VND 680 billion. Performance results in 2021, VIX excellently achieved pre-tax profit of VND 907 billion, exceeding 33.4% of the plan set at the beginning of the year. Compared to 2020, VIX grew dramatically with revenue increasing more than 2 times and pre-tax profit increasing 2.2 times. The growth in revenue and profit is equivalent to the increase in charter capital in the past year from VND 1,277 billion to VND 2,746 billion.
This result was achieved thanks to the management’s efforts in business activities to both take advantage of market growth opportunities and limit risks.
Thus, with 2021 pre-tax profit of 907 billion VND, the company’s estimated full-year EPS is 4,320 VND, an increase of 68% over the same period in 2020.
On the momentum of revenue and profit growth, along with the vibrant development of the stock market, VIX has approved an issuance plan for existing shareholders to increase capital to 5,400 billion VND. Accordingly, existing shareholders who own 1 share have the right to buy 1 new share at a price of 15,000 VND/share. Mobilized capital is supplemented by business capital for self-trading activities and lending for securities margin trading. Currently, the capital increase plan has been submitted to the Securities Commission for consideration. Once approved, VIX will increase capital as expected.

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According to Economic Life