PVI is voted among top 50 best Vietnamese listed companies by Forbes Vietnam for the fourth time

04:17' CH - Thursday, 01/06/2017

At the end of May 2017, PVI Holdings (PVI), securities code: PVI, was honored to be one of four companies traded on Hanoi Stock Exchange (HNX) being voted among top 50 best listed companies on Vietnam stock market 2017 by Forbes Vietnam. This is the fourth time PVI has been voted in the prestigious list by the world's leading business magazine Forbes (Vietnamese version).

The list of the 50 Best Listed Companies by Forbes Vietnam in 2017 rank the best performing companies in each sector, in which the stocks are traded on the Ho Chi Minh City Stock Exchange HCMC (HSX) and Hanoi (HNX).

The list of 50 best listed companies was formulated by using the ranking method of Forbes (US), taking into account the specific characteristics of local businesses. The data used for the assessment are based on the audited financial statements in five consecutive years 2012 – 2016. The companies are scored according to key criteria such as compound growth rate of revenues, profits, profitability ratios ROE, ROC and EPS growth for the period 2012 – 2016. In addition, the assessment considers the level of sustainable development: branding, corporate governance quality, sources of profit in the past and prospects for sustainable development.

From a non-life insurer primarily operating in the oil and gas sector, PVI has grown to become the leading finance - insurance institution in Vietnam market. Average annual growth rate was 10.06% per year over the past 5 years, financial indicators have improved substantially, especially in the period 2014-2016 according to international financial reporting standards IFRS.

PVI has exceeded its business objectives for the period of 2012-2016. PVI's total assets increased by 11.49% per annum (pa) from VND 10,771 billion (2012) to VND 16,643 billion (2016). Owners' equity increased by an average of 4.10% pa from VND 5,772 billion (2012). Total turnover in 2012-2016 reached VND 41,185 billion, achieving 110% of the plan, total profit after tax in 2012-2016 reached 2,140 billion, equal to 144% of the plan. Average after tax profit over equity was 18.43% per annum. The average dividend payout ratio was 14.80% per annum, exceeding the targets approved in the General Shareholders Meeting.

In 2016, total consolidated revenue of PVI reached VND 9,163 billion, fulfilling 108% of the plan; Profit before tax reached VND 714 billion, achieving 140% of the plan; Profit of parent company reached VND 637 billion, completing 209% of the plan; The dividend payout ratio was 20%. 2016 is also the third consecutive year PVI Insurance affirms its No. 1 position in Vietnam non-life insurance market; PVI Reinsurance continues to lead the reinsurance market in Vietnam; Investment activities are highly effective, being the major source of profit for PVI.

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PVI Financial Statements 2016

PVI would like to present the audited financial statements of the year 2016 to our valued shareholders, clients and partners
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