Among them, the largest is the M&E general contractor package worth VND 400 billion of the Luxnam* Resort & Spa Phu Quoc project.
Mr. Nguyen Khoa Dang, the new General Director of Searefico Joint Stock Company recently shared that the group has won a series of projects with a total value of newly signed contracts of nearly 1,250 billion VND, a backlog of more than 2,600 billion VND, exceeding the yearly plan. 2025.
Among them, the largest is the M&E general contractor package worth VND 400 billion of the Luxnam* Resort & Spa Phu Quoc project. This is also the first Maldivian-style resort in Vietnam managed by the world’s leading hotel service group LUX* Resorts & Hotels.
In addition, the company also won 2 general mechanical and electrical contractor packages, the Hyatt Regency Resort & Spa Ho Tram project won 233 billion VND and the 5-star luxury resort hotel Marriot Hoi An was worth 355 billion VND; along with a number of other projects with a total value of nearly 100 billion.
In the industrial segment, Searefico continues to be trusted by a giant in the dairy industry, also a large and long-standing customer – Vinamilk, to award many bidding packages, such as supplying and installing Generator systems at Nghe An Dairy Factory; EPC general contractor for ice cream warehouse at Gia Lam Dairy Factory – Hanoi; renovating the cooling system of Tien Son dairy factory (Bac Ninh), Lam Son (Nghe An); Supply and installation of panels and doors for Vinabeef factory (Tam Dao)… with the total value of the above packages reaching nearly 120 billion.
The year 2024 also marks Searefico’s first cooperation with TH True Milk through the contract for supply and installation of refrigeration systems at Da Lat Dairy Factory. The project has promoted the strengths of member units including Searee and Searefico E&C in the electromechanical segment; Arico industrial refrigeration segment; Greenpan in PIR panel array.
“Searefico continues to steadily implement its pivot strategy, focusing on the industrial customer segment and projects with high technology and technical content. At the same time, we still maximize our strengths in the civil sector. With extensive experience and a team of capable engineers, Searefico has the ability to proactively select reputable customers with strong financial foundations and similar corporate culture. Thanks to that, we not only create sustainable value for the company but also increase benefits for shareholders.”, Mr. Khoa Dang shared.
Mr. Dang emphasized that searefico is gradually overcoming the difficult period, while strengthening its internal strength to prepare to receive opportunities from the new development cycle. The Board of Directors and the group of member companies have detailed plans for the upcoming development path. In particular, the last 6 months of 2024 will be an extremely important period.
By the end of the first half of 2024, Searefico’s business results showed bright spots, although the market still had many challenges. In particular, Searefico’s construction segment recorded an impressive gross profit of VND 26.1 billion, with gross profit margin increasing from 4% to 7%, showing that the pivot strategy is proving effective.
The semi-finished products segment continued to record outstanding growth with revenue reaching 120.3 billion VND, up 77% over the same period last year and gross profit reaching 13.5 billion VND.
The service segment, mainly industrial real estate leasing, recorded revenue of 2.2 billion VND, gross profit of 1.1 billion VND, gross profit margin of 52%. This is the result of the strategy to welcome the return of FDI capital, combined with professionalism and methodical investment in the Searee Logistics Warehouse project.
Overall, due to many difficulties in the economic situation in general and the construction & installation industry in particular, Searefico’s business results in the first 6 months of 2024 are still modest compared to the same period. However, the notable point is that the backlog has reached 2,600 billion, exceeding the 2025 plan and exceeding the management’s forecast.
“With the preparations, I believe that the second half of 2024 will be better for the entire construction industry, and profits will improve significantly. All staff and member companies are making efforts towards achieving the goals assigned by the General Meeting of Shareholders,” CEO Nguyen Khoa Dang shared.
