Hotpot, grill, and draft beer tycoon Golden Gate lost VND 431 billion in 2021, the lowest revenue in 5 years
Golden Gate Trading Service Joint Stock Company (Golden Gate) has just announced its financial report for 2021.
Accordingly, net revenue last year reached VND3,318 billion, down 27% compared to the previous year and the lowest in 5 years. The reason is due to the impact of the Covid-19 epidemic, which caused stores to close for a long time.
The decrease in revenue caused the gross profit of Golden Gate to also decrease, to 1,926 billion dong, but the gross profit margin was still maintained at approximately 60%.
However, minus selling expenses of more than VND 2,000 billion, financial expenses of VND 44 billion and business administration expenses of VND 287 billion, Golden Gate suffered a loss of VND 430 billion.
This is the first year Golden Gate has lost money, since the release of business figures in 2010.
As of December 31, 2021, Golden Gate has total assets of 2,387 billion VND, up 4% compared to the beginning of the year. Golden Gate currently has short-term loans of VND 530 billion and long-term loans of VND 546 billion. In September 2021, Golden Gate borrowed VND 494 billion in 3-year bonds with an interest rate of 11.5%. This loan is secured by 573,372 shares of the company, which are held by Golden Gate Partners JSC. Golden Gate Partners currently owns 3,376 million shares of Golden Gate.
According to the valuation certificate issued by the International Investment Valuation and Consulting Joint Stock Company on August 30, 2021, the value of a Golden Gate share is 1,953,359 VND/share. Accordingly, the value of collateral assets was initially determined to be more than 1,120 billion VND, 2.27 times larger than the loan value.
In March 2022, Golden Gate’s shareholder structure had a big change, when Prosperity Food Concepts Pte. Ltd sold all 2,513 million shares, equivalent to divesting all 32.9% of capital.
Mr. Tran Viet Trung, Chairman of Golden Gate Board of Directors will sell 161,871 shares, equivalent to divest 2.12% of capital and Mr. Nguyen Xuan Tuong, Deputy General Director of Golden Gate will sell 69,373 shares, equivalent to divesting 0.909% of capital. .
Thus, a total of 3 shareholders of Golden Gate will sell 2.744 million shares of the company, these shares account for 35.95% of the capital.
The transferee includes Seletar Investments Pte. LTd (1,539,608 shares), Seatown Private Capital Master Fund (768,431 shares) and Periwinkle Pte Ltd (436,358 shares).
Golden Gate is an enterprise established in 2005. This is a pioneer in applying the restaurant chain model in Vietnam, with 5 main culinary styles, including: Hot pot, Grill, Asian, European and coffee shop. get high. Golden Gate currently owns more than 22 brands and nearly 400 multi-style restaurants in 40 cities and provinces, serving 18 million customers in 2019 and 15.6 million customers in 2020.
By Business and Marketing
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
