On June 26, 2024, Deo Ca Group held its Annual Shareholders' Meeting in Ho Chi Minh City, where the Executive Board reported positive 2023 results and presented the 2024 operating plan.
Overview of the congress (Photo: The Son)
Revenue and profit increase sharply
In 2023, Deo Ca's consolidated revenue increased by 50.5% to VND 6,622 billion, with service and construction revenue at VND 6,358 billion and financial revenue at VND 264 billion. Profit after tax rose by 53.22% to VND 642 billion.
The Group completed the Cam Lam - Vinh Hao expressway, worth over VND 8,900 billion, and began operation in April 2024. Deo Ca also started construction on two expressways: Dong Dang - Tra Linh (phase 1) at over VND 14,300 billion and Huu Nghi - Chi Lang at over VND 11,000 billion.
Vice Chairman Nguyen Tan Dong chaired the meeting (Photo: The Son)
In 2023, Deo Ca Group completed several construction projects on time, including the Thung Thi and Truong Vinh tunnels, My Thuan 2 bridge, My Thuan - Can Tho expressway, and Prenn pass road expansion, with a total value exceeding 6,100 billion VND.
Mr. Khuong Van Cuong, General Director of Deo Ca Group, assured shareholders that with ongoing projects, Deo Ca's workload is secured until the end of 2026. He also highlighted their efforts in exploring highway investments and new technologies for construction and management to ensure stable growth and sustainable development.
General Director Khuong Van Cuong speaks at the congress (Photo: The Son)
Deo Ca currently manages and maintains nearly 410km of expressways and national highways, over 30km of road tunnels, and 18 BOT toll stations nationwide, ensuring safe and smooth traffic.
In 2024, Deo Ca aims for consolidated revenue of VND 8,956 billion, up 35.25% from 2023, and an after-tax profit of VND 733 billion, up 14.17%. In Q1 2024, revenue was VND 1,750 billion, a 121.52% increase, and after-tax profit was VND 169 billion, up 39.67% from Q1 2023.
Prepare resources meticulously to achieve long-term goals
With the country's vast potential for transport infrastructure, Deo Ca continues its focused growth strategy with specific goals for each operational area.
Deo Ca Group will invest nearly VND 80,000 billion in projects like Tan Phu - Bao Loc and Ho Chi Minh City - Chon Thanh, and over VND 47,600 billion in the Vietnam - Laos railway project, Vung Ang - Mu Gia section.
Deo Ca is actively working on major projects including the Quang Ngai - Hoai Nhon expressway, Chi Thanh - Van Phong, and Tuyen Quang - Ha Giang expressways, as well as Ho Chi Minh road section Chon Thanh - Duc Hoa, Ring Road 3, Tan Van intersection, two routes to Long Thanh airport, and Khe Net railway tunnel, with a total value of nearly VND 35,000 billion.
Deo Ca owns modern construction equipment, meeting the large volume of construction work (Photo: The Son)
To ensure project effectiveness, Deo Ca Group has prepared human resources, finance, and equipment, and uses management tools, inspection, and digital technology throughout construction and operation.
Deo Ca has adopted the PPP++ model to diversify capital sources, enhance mobilization efficiency, and reduce risks during project implementation.
Deo Ca's human resources are well-trained and experienced in large, complex projects. The group actively trains staff across various levels and fields, and collaborates with educational institutions to develop future talent.
Besides, Deo Ca Group leads in digital transformation by using BIM for design, construction, and management, and employs software for resource and contract management. It also innovates technology and partners with major European, Japanese, and Korean firms to adopt new technologies in railways, metros, and bridges, aiming to meet international standards.
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