Shipping Company Suddenly Reports Huge Profits, EPS Near 60,000 VND, Share Price Only 8,500 VND

CTCP Vận tải biển và Hợp tác Lao động Quốc tế (Inlaco Saigon – ISG) recently announced its audited consolidated financial report for 2024. Its net revenue reached nearly 384 billion VND, a 10% increase compared to 2023. However, the company reported a gross loss of over 59 billion VND and a net profit loss of 85 billion VND. Notably, ISG recorded a significant other income of over 656.5 billion VND, leading to a net profit after tax of nearly 531 billion VND, with an EPS of 59,706 VND.

Currently, ISG’s share price on UPCOM stands at only 8,500 VND. Despite the extraordinary profit, the company still has a cumulative loss of 293 billion VND as of the end of 2024. The main reason for this exceptional profit is due to the Vietnam Development Bank waiving 518 billion VND in late payment interest related to a dry cargo ship project. By the end of 2024, ISG’s total assets amounted to 628 billion VND, with total liabilities of 828 billion VND, a decrease of 310 billion VND from the beginning of the year.

Inlaco Saigon, established in 1995, focuses on shipping, labor supply, and logistics and currently operates a fleet of six ships with capacities ranging from 6,000 to 34,000 tons.