Vua Nem Joint Stock Company, a mattress retail chain established in 2007, has returned to profitability after two years of losses. The company recently announced that it earned a profit of 4 billion VND in the first four months of the year, exceeding expectations and matching the profit for the entire year of 2021.
Vua Nem’s profits have been positive since 2021, except for two consecutive years of losses from 2019 to 2021. The company’s EBITDA at the store level increased by 155% compared to the same period in 2023, and the gross profit margin was optimized by about 12%.
The recent payment off of all related obligations of a batch of bonds worth 150 billion VND due at the end of May was a capital mobilization subject to a 12.5% interest rate per year. By paying off the bond principal, Vua Nem saved 4.5 billion VND in interest this year.
Vua Nem’s ecosystem includes parent company Vua Nem Investment Joint Stock Company and two subsidiaries managing investments and trading bedding and textile products. The chain currently has 128 stores, although this number has decreased by 22 compared to the same period last year. CEO Nguyen Thanh Huyen stated that “Our focus is on developing products with good materials at reasonable prices for consumers.”
The goal for this year is to increase revenue by 13% compared to
