Công ty CP Đầu tư Địa ốc No Va (Novaland; mã chứng khoán NVL) has released its annual general meeting documents for 2024. In a message to shareholders, customers, and partners, Chairman of the Board of Directors, Mr. Bui Thanh Nhon, shared that the macroeconomic landscape in 2023 still faces numerous challenges and uncertainties. Novaland, like other businesses, must navigate through these difficult times.
However, with the support and understanding from customers, the community, investors, and partners, as well as strong guidance from the government, Novaland is gradually overcoming these challenges.
With internal resources, determination, and confidence, Novaland is committed to lighting up every corner of the country.
"To date, Novaland has successfully restructured its loans and debt obligations, and the company's assets are still balanced with its liabilities," emphasized the Chairman.
Delays in the legal procedures of certain projects have caused Novaland to not fulfill its commitments to customers. This has had a significant impact on the brand's reputation, and the company is working diligently to address these issues.
In 2024, Novaland will continue to complete ongoing projects, striving to fulfill its commitments to customers, investors, and partners.
NVL has set a target of achieving VND 32,587 billion (approximately USD 1.3 billion) in revenue and VND 1,079 billion in after-tax profits in 2024, representing a growth of 585% and 122% respectively compared to the previous year.
To achieve these goals, Novaland has prepared business plans, financial resources, and human resources, with a primary focus on resolving the remaining legal barriers in its projects.
This is a crucial prerequisite for the company to continue construction activities and deliver real estate projects to customers in stages while restructuring its financial structure to ensure the interests of customers, lenders, suppliers, and shareholders.
Specifically, in 2024, NVL will continue to develop and complete 16 projects, including The Grand Manhattan (District 1, Ho Chi Minh City), Victoria Village (Thu Duc, Ho Chi Minh City), Palm A (Palm Marina; Thu Duc, Ho Chi Minh City), Sunrise Riverside (Nha Be, Ho Chi Minh City), Park Avenue (District 11, Ho Chi Minh City), NovaWorld Phan Thiet (Binh Thuan), 4 components of Aqua City (Dong Nai), and 5 components of NovaWorld Ho Tram (Ba Ria - Vung Tau).
This year, NVL plans to deliver 14 projects, including 7 in Ho Chi Minh City, 3 components of Aqua City in Dong Nai, 3 components of NovaWorld Ho Tram, and NovaWorld Phan Thiet in Binh Thuan.
Furthermore, in 2024, the company will focus on resolving the legal procedures of ongoing projects to enhance its business activities. Key revenue-generating projects (Aqua City, NovaWorld Phan Thiet, NovaWorld Ho Tram, and projects in Ho Chi Minh City) will prioritize development plans and create destinations by investing in recreational parks and resorts.
The construction of these projects will recommence in Q2 2023, and new product offerings are expected to be introduced to the market from Q4 2024 to Q1 2025.
Regarding the M&A strategy in 2024, following the activities in 2023, Novaland will continue to prioritize the restructuring of existing investments, as well as explore investment collaborations in projects with clear legal frameworks, ready for implementation according to market demands and the company's financial health.
