EVE continued maintain growth rate in 2013

While 2013 was recorded as the sixth year Vietnam’s economy is stagnating and under potential growth rate, sales growth of Everpia Vietnam was recorded in some segments. Everpia Vietnam is pleased to report results for the year 2013 with higher profits and operating margins in comparison with 2012. Net sales went up thanks to factors such as volume sales, price, and efficient portfolio products.

 

Bedding business

Bedding sales in 2013 increased at a slow pace as the economy has just began its recovery. Sales in 2013 remained slightly below 2012 through the first three quarters of the year. The Company had better results in the historically stronger fourth quarter. Sales in the bedding product category showed strength increasing 10.2 % over 2012. EVE believes the efficient reorganisation of its sales department has contributed to that growth, which help the Company gaining some market share. With these performances, Everon still maintains its first position in the middle section of the Bedding market in Vietnam.
Spring mattress sales provide a significant growing percentage of EVE’s business for 2013. This product sales in 2013 increased 43.0% as compared to 2012.

 

Padding business

The company continues to run the business exclusively and profitably with such high-class kinds of cotton fibers as Thermolite and Dacron supplied by American Invista Company or Advansa supplied by German ADVANSA Company and Dexfil – high-quality thin fiber. 2013 is a successful year of Padding business. Revenue from this line gained VND 283 bil. in 2013, achieved 130.4% year beginning’s target, increasing significantly of 30.4% year-on-year. A major part (68.1%) of padding revenue was from the Padding business in the Northern market. Notable padding sales resulted from increase of padding price and strong orders from new and existing customers.
Although Everpia cannot achieve its target on revenue and NPAT, business operation of Everpia Vietnam has the positive changes by the end of the last year. Net sales reached VND 750.5 bil. and profit after tax was VND 84.9 billion, representing 10.4% and 13.9% yoy growth respectively. The adjusted operating profit margin showed an improvement from 13.8% in 2012 to 15.3% in 2013.