Winning more projects at the end of the year, FECON is close to 2019 sales target

According to the latest news, FECON has just signed a series of new contracts worth approximately VND 500 billion, bringing the total contract value in 2019 to VND 3,800 billion.

Among the new projects that FECON has just won in November 2019, there are 2 projects FECON participated as the main contractor: Hoa Sen Dai Phuoc Urban area project (Dong Nai) which the first infrastructure package was signed with CFLD Group, one of the big real estate foreign corporation and Vinh Tan port project belonging to Hoa Phat Group. These two bidding packages brought FECON over VND 300 billion.

With the vision to become a leading group in construction and infrastructure development in Vietnam in 2025, to enhance its position in each project in particular and in the construction market in general, FECON will focus on industrial construction, urban infrastructure and FDI building and industrial construction as the main contractor or general contractor.

Some other projects as Vinhomes Smart City (Tay Mo), PV FLAT glass factory (Hai Phong), Gateway Urban Area (Phu Quoc), Edison School, Vplaza Tower (HCMC), Manila Railway project (Philippines), Bago bridge (Myanmar)... are also expected to bring FECON over VND 200 billion in sales.

Until now, the contract value in 2019 is about VND 3,800 billion. FECON is still aiming at reaching VND 4,200 billion of the total number of contract value for the whole year, ensuring the growth of revenue and profit by 15% compared to 2018.

In the difficult context of the construction industry, FECON is promoting the development of foreign markets to improve profit margins. The ongoing projects in Myanmar and the Philippines are expected to bring a net profit of 15% - 20%, higher than projects in Vietnam. Then, the first 6 months of next year will witness that Myanmar and Philippines market are very active with many Japanese ODA infrastructure projects.

Besides major projects as Bago Bridge, Swittee Port in Myanmar, North South Manila Railway in Philippines, FECON is pursuing a series of road, port and railway projects, majority of those are Japanese ODA projects in these two countries. FECON is going to sign contracts worth a minimum of USD 25 million from projects in Myanmar and USD 15 million from projects in Philippines in 2020.

According to the financial report for the third quarter of 2019, FECON's net profit is estimated at VND 150.98 billion, up 22.55% over the same period in 2018 (123.2 billion).