HCMC – Sea & Air Freight International (HOSE: SFI) has forecast its 2025 net profit at VND60 billion, down by 23% from 2024, while its revenue is projected to fall by 13% to VND950 billion.
Despite its expectations of lower profit, the company plans to raise its dividend payment to VND2,000 per share
In 2024, SFI posted revenue of nearly VND1.1 trillion, up by 7% over 2023, exceeding its annual target by 14%. However, its net profit last year dropped by 18% to VND78 billion, the lowest in four years but 31% above its target.
Higher international shipping rates, particularly air freight, contributed to revenue growth. However, increased costs and reduced holdings in Vietnam Container Shipping Joint Stock Corporation affected financial income and profit growth.
SFI plans to issue nearly 1.2 million new shares under an employee share ownership plan (ESOP) at VND10,000 each, a third of the market price on February 17 (VND30,650). This share issue represents 5% of its outstanding shares and is set for the first half of 2025.
In May 2024, SFI issued 1.1 million ESOP shares under the 2023 program, taking its charter capital up to nearly VND249 billion.
The firm’s board of directors also proposed selling 1.7 million treasury shares, or 6.95% of the company’s charter capital, to employees at VND10,000 each. This includes 250,000 shares reclaimed from former employees and 1.48 million repurchased in 2020.
The sale will be available to board members, executives, key managers, and employees with a two-year transfer restriction. The proceeds will be used to supplement working capital.
The benchmark VN-Index lost 3.36 points, or 0.26%, to close at 1,272.72 points on Monday, as large-cap stocks sent the market lower. The Hochiminh Stock Exchange saw 195 winners and 266 losers.
Stock trade improved 31.2% in volume and 18.9% in value over the previous session, with 852.8 million shares worth VND17.67 trillion changing hands. Block deals contributed 113.4 million shares valued at VND2.2 trillion to the overall value.
The VN30-Index, which tracks the 30 largest-cap stocks, lost 6.5 points to 1,334.01 points as 19 bluechips declined and only nine advanced.
Consumer goods stocks MSN and MWG fell by over 2%, while technology firm FPT and lender BID each dropped about 1%, taking away nearly 0.5 point from the index.
On the other hand, bank stocks SHB and SSB led the gains in the VN30 basket, both rising more than 1.8%. Other advancers posted minor increases of around 0.5%.
Mid and small-cap stocks outperformed, attracting strong buying interest. Securities brokerage firm VIX saw record liquidity, trading 87.8 million shares, nearly 60 times its 10-day average. The stock surged 5.9% to VND10,750.
EVF shot up to its ceiling price for a second straight session, reaching a three-month high of VND10,950, with 23.2 million shares traded.
Other mid and small-cap stocks saw high trading activity. BCG reversed early losses to close up 3.5% on 21.77 million shares. EIB gained 1.6%, while ORS rose 2.7%.
On the Hanoi Stock Exchange, the HNX-Index added 1.97 points, or 0.85%, to end at 233.19 points, with 96 gainers and 73 decliners. Trading volume reached nearly 68 million shares valued at over VND1.07 trillion.
