As the only condom manufacturer with shares listed on the stock exchange, Merufa Joint Stock Company (MCK: MRF) in 2021 recorded impressive business results despite the impact of the Covid-19 epidemic and competed with other companies. foreign enterprises.
With the company’s efforts to develop the company, this medical supplies business recorded a phenomenal increase in business results in 2021. Accordingly, Merufa achieved revenue of up to 285 billion VND (equivalent to about 12.5 billion VND). million USD), an increase of 30.5% over the same period in 2020. This is also the highest level since this company started listing on the stock exchange.
After a sharp decline in 2017, Merufa’s pre-tax profit has grown continuously for 4 years from 2018 to 2021. In 2021, EBT is 30 billion dong, double that of the previous year.
Profit from Merufa’s main business has only improved since 2019.
In the period of 2015 – 2016, Merufa also had impressive EBT with a peak in 2016 of more than VND 32 billion, 6.3% higher than in 2021 but mainly from the sale and liquidation of fixed assets. regulations, joint projects and ground exploitation.
Merufa revenue and profit for the period 2015 – 2021
Not only producing condoms but also a supplier of medical gloves, cork, medical tubes,… the domestic and international demand for surgical latex gloves has increased due to the pandemic. can be seen as a driver of revenue and profit growth for Merufa.
The competition among suppliers in the field of trading in medical equipment, supplies and instruments is increasingly fierce, the price of rubber gloves fluctuates rapidly, the price at the end of the year triples than the price at the beginning of the year. creating momentum for Merufa to break through. In 2020, this company invests in the second glove factory with a total capital of 230 billion VND.
Statistics on the world demand for rubber gloves in 2020. Source: VRG
Not only Merufa, the heat of medical gloves on the market also brought outstanding growth in business results of many businesses. Typically, VRG Khai Hoan Joint Stock Company (belonging to Vietnam Rubber Industry Group) with a factory operating at 100% capacity in 2020 with an output of 2.5 billion units/year, Viet Glove Joint Stock Company (VietGlove) can be followed. also doubled revenue in 2020, from 807 billion (in 2019) to 1,533 billion,…
With a charter capital of more than 36.75 billion VND, on 12/12/2017, Merufa officially registered to trade shares on UPCOM with the code MRF, offering price is 18,600 VND/share. Currently, MRF stock ended March 15 at 57,100 VND/share. Compared to the time when it was first listed on the stock exchange, the current MRF stock has increased 3 times.
At the beginning of 2021, MRF stock once caused a fever on the exchange with the phenomenon of a chain of 6 consecutive ceiling increases from December 31, 2020 to January 8, 2021, bringing the stock price from 33,500 VND/share to 77,000 VND/share. .
Merufa Joint Stock Company, formerly known as Medical Rubber Enterprise, was established in 1987 by the Ministry of Health with the task of producing contraceptive condoms and other medical rubber products to supply the national economy. By December 2002, the Medical Rubber Factory was transformed into Merufa Joint Stock Company.
Currently, in Vietnam, there is only 1 business dealing in this product, which is Merufa Joint Stock Company. The rest, the “fat” condom market is falling into the hands of foreign businesses with Japanese and British brands dominating Durex, Sagami, OK, etc.
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