Temporary modest profit target to focus on the Everon rebranding project in 2023
Based on the profit distribution plan approved by the General Meeting of Shareholders 2023, Everpia will pay dividends in 2022 in cash at the rate of 11%.
On April 27, Everpia Joint Stock Company (EVE) held the Annual General Meeting of Shareholders 2023 and approved all reports and statements.
Everpia ended fiscal year 2022 with sales of VND 1,024 billion, increased by 18%, profit of VND 91 billion, increasing by 54% compared to 2021, surpassing previously approved revenue and profit targets. This remarkable growth came from all three operating product lines, including: Bedding, Padding, and Cleaner with the growth rate of 26%, 12% and 5% respectively.
According to the profit distribution plan approved by the General Meeting of Shareholders, Everpia will pay dividends in 2022 in cash at the rate of 11%. Thus, the Board of Directors of the company has fulfilled its promise to shareholders since 2016 to spend at least 50% of profits earned in the period to shareholders.
Despite the impressive 2022 business results, Everpia proposes modest growth in revenue and profit plan with an expected profit rate of only 5% for 2023.
Answering shareholders' questions about this issue, Everpia said: “The profit in 2023 will be deeply affected by depreciation costs for the new factory in Giang Dien and costs for the Everon rebranding project.
Similar to many other long-standing brands, Everon is facing the problem of gradually losing its leading position and connection with young customers.
The "revival" of Everon is extremely necessary to cope with changes in the context as well as the need to develop new competitive advantages. The new Everon still maintains the core values that consumers know, and at the same time will bring new values and more in tune with Millennials' consumers. The goals we pursue during these difficult times demonstrate our determination to create lasting value for our customers and shareholders.”
Regarding Everpia's new factory in Giang Dien, the company announced that the factory will start operations on June 1. This is the first Bedding factory in Vietnam to achieve the highest certificate of green building - EDGE Advance.
At the ASM 2023, Everpia's CEO, Mr. Lee Jae Eun, shared that after celebrating its 30th anniversary last year, the company is now focusing on laying the groundwork for a sustainable future by rebranding and greening its factories.