News Aug 04, 2022

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On August 4th, 2022, Forbes Vietnam held a ceremony to honor "Top 50 best listed companies" in 2022. For the tenth consecutive year, Forbes Vietnam announced the list in the context of high global economic impacts of the Covid-19 pandemic. Traphaco is one of the top two pharmaceutical companies on this list.

To implement the List of 50 best listed companies in 2022, Forbes evaluates companies listed on the HSX and HNX stock exchange through many steps, meeting strict conditions such as: profitable in fiscal year 2021, revenue and minimum capitalization. In the next round, companies are calculated and scored quantitatively on the following criteria: compound growth rate of revenue, profit, ROE, ROC, etc... Next, Forbes Vietnam performs Qualitative survey to assess the sustainable development of enterprises: position of the company in the industry, source of profits, quality of corporate governance, prospects for industry development.


Mr. Tran Tuc Ma - CEO  of Traphaco Joint Stock Company representing businesses to receive the certificate of Top 50 Best Listed Companies in 2022 (Forbes)

According to the consolidated financial statements of the second quarter of Traphaco, the Company achieved VND 592.5 billion in revenue and VND 104 billion in profit before tax, up 7.6% and 19.5% respectively over the same period. Accumulated in the first 6 months of 2022, the Company achieved 1,219 billion dong of consolidated revenue and 217 billion dong of pre-tax profit, after-tax profit reached 173.7 billion dong.

In 2022, Traphaco sets a target of total revenue of 2,345 billion dong, profit after tax of 286 billion dong. Thus, after the first half of the year, the Company has achieved 53% of the revenue plan and 60% of the profit plan approved by the General Meeting of Shareholders.

These numbers have helped Traphaco maintain its leading position in the group of pharmaceutical companies with the best growth in the market in terms of revenue and profit. Especially, the Company's operating efficiency improved significantly when the gross profit margin in the second quarter of this year reached 62.8%, up from the high level of 52.7% in the same period last year.

There are 3 outstanding features in the operation picture of Traphaco in the first half of 2022, deciphering the above-mentioned outstanding business results.

The first is to maintain and increase market share in the traditional medicine segment. The raging Covid-19 pandemic is considered to be the quintessence of the pharmaceutical industry, especially with Traphaco, whose traditional drug product system is mainly complementary, for the treatment and prevention of diseases, and for health care, so it faces many challenges when people's income declines. But the Company still broke through to the finish line and increased revenue and market share thanks to proactive sources of goods, stabilizing selling prices, innovating the direct selling system through pharmacies (OTC), in parallel with developing the market. market, improve the sales management software system, optimize the transportation system to promptly meet the demand for goods during the epidemic. Traphaco has been recognized by the Vietnam Records Organization (VietKings) as the first pharmaceutical company to modernize traditional medicines and has three best-selling traditional drug product lines in Vietnam (Boganic, Hoat Huyet Duong Nao (brain tonic) and Tottri). Revenue from the traditional pharmaceutical segment seemed to have hit the ceiling and was impenetrable, but in recent quarters, it has continuously grown at 17%, showing that the potential of this market is still a lot.

The more prominent feature comes from the outer segment of traditional medicine. In which, technology transfer from partner Daewoong (Korea) was implemented drastically with many new ways, overcoming many limitations due to the unfavorable influence of the Covid-19 pandemic. Up to this point, the Company has received and delivered 12 new products and strengthened comprehensive cooperation with Daewoong. Business outside traditional medicine accounted for 38%, higher than the same period last year. The strategy of "Maintaining the No. 1 position in Herbal Medicine - Focusing on investment and development in Non Herbal Medicine" has both created a driving force for competition among the blocks of traditional medicine activities, in addition to traditional medicines, and created cooperation between the two groups parts to move forward together. For example, in the field of new product development, in the first 6 months of 2022, Traphaco launched 11 new products, sales exceeding 14% of the whole year plan.

It is also impossible not to mention the process of restructuring and rearranging the Company's activities. Each division is arranged to refine functions according to the value chain including Sales & Marketing, Research & Development, Finance & Planning and support departments. Such restructuring helps to significantly improve labor productivity, closely link with the market and increase the operational efficiency of each department, increase interaction and cohesion for the highest goal that is efficiency and value of work. For example, the division of R&D into traditional medicine and non-traditional medicine research departments (including technology transfer products) helps to focus R&D activities on the parent company, taking advantage of common background on facilities such as LABO research department, standardization system. Or as simple as marketing activities that will support and serve the business sector directly and be measured by business results...

In the second half of 2022 and the following years, Traphaco clearly shows its ambition to firmly protect its strong growth capacity by effectively implementing its strategy. In order to implement the core strategy of parallel development of traditional and non-traditional medicines, modern medicine products will be heavily invested. The portfolio of modern pharmaceutical products is expected to expand through technology transfer with partner Daewoong. This is one of the 3 largest pharmaceutical companies in Korea with annual revenue of over 1 billion USD. After phase 1 received and delivered 12 new Daewoong products, Traphaco activated phase 2 in the process of receiving and transferring 70 specialized products for treatment of diseases with great demand in Vietnam.

During a recent visit to Traphaco, Chairman Chung Ji Kwang emphasized that Daewoong wants to enhance high-tech products, bringing added value on both OTC and ETC channels. New plan in investing in factories, production lines and production of modern and high-tech dosage forms; sage to have leading experts for the goal of owning advanced high technology, which was initially deployed and built.

Thus, it can be clearly seen that the non-pharmaceutical business segment promises to create breakthroughs in revenue for Traphaco, ensuring the realization of a compound growth rate of 13.3% in revenue and 15% in revenue. profit before tax in the period of 2021-2025 that Traphaco's AGM has set.

Traphaco's solid business foundations are reflected in financial indicators, combined with high evaluations of non-financial factors such as sustainable development capacity, company position in the industry, source of profits, etc. Profitability, corporate governance quality, business development prospects, industry prospects ... have brought the Company into the "List of 50 best listed companies" in 2022 voted by Forbes Vietnam. This is a testament to the internal strength and strong breakthrough ability of Traphaco after nearly 5 decades of striving, to soon enter a new phase with many big goals ahead.