CTCP Xi mng Bt Sn (HaSTC: BTS)

Ngnh: Vt liu xy dng

Ngy thnh lp: 28/01/1997
Website: www.ximangbutson.com.vn

Ngy nim yt ln u: 25/12/2006

Chin lc v hot ng kinh doanh

Cc s liu th trng ti ngy 02/06/2009

Lch s cng ty: c thnh lp theo Quyt nh s 54/BXD/TCL ngy

GT vn ha TT (t VND)

28 thng 1 nm 1997 ca B trng B Xy dng. Ngy 23/3/2006, B

trng B Xy dng c Quyt nh s 485/Q-BXD v c phn ha v
chuyn Cty Xi mng Bt Sn thnh cng ty c phn vi s vn iu l l
900 t ng.

Hot ng chnh: Cc nhm sn phm chnh gm: Xi mng Pooclng

PCB 30, xi mng PC40, p ng tiu chun Vit Nam 2682-92.

Th trng: Cng ty c th trng tiu th ch yu l H Ni v cc tnh

pha bc nh: H Nam, Nam nh, Thi Bnh, H Ty, Hng Yn..., mt
phn min trung. Bn cnh , cng ty cn cung cp clinker cho cc
trm nghin H Tin 1, Hi Vn...Cc sn phm ca cng ty Bt Sn
nhanh chng thm nhp v to dc ch ng trn th trng. Th trng
tiu th ca xi mng Bt Sn giai on 1999 - 2004 tp trung ch yu ti
min Bc (chim 95,02% sn lng tiu th ca cng ty), ngoi ra cng ty
cn cung cp hng trm ngn tn clinker cho cc trm nghin khu vc
min trung v min nam nhm gii quyt tnh trng thiu ht xi mng ti
cc khu vc ny.

So snh trong ngnh: BTS s hu dy chuyn cng ngh ng b, hin

i, cng sut 4000 tn clinker/ ngy m, sn phm c cht lng tt v
c tnh nng vt tri so vi cc sn phm cng loi. BTS l mt doanh
nghip ln trong ngnh sn xut xi mng ca Vit Nam. V sn lng,
cng ty hin chim 7,2% tng mc sn lng ca c nc, chim 16,5%
tng sn lng ca Tng cng ty Xi mng Vit Nam.

KLGD bq 30 ngy (CP)

SLCP angluhnh (triuCP)
Vn iu l (t VND)

Gi hin ti (VND)

14.900

99.806

Gi cao nht 52 tun

22.400

90,88

Gi thp nht 52 tun

8.400

P/E 4 qu gn nht (x)

12,86

1.354

908.801

EPS iu chnh (VND)

1.135

P/B (x)

1,18

Li c tc (%)

5,7%

S hu nc ngoi(%)

0,00

Cc doanh nghip so snh ti ngy 02/06/2009

M chng khon
GT vn ho TT (t VND)

BCC

SCJ

1.539,05

238,48

P/E 4 qu gn nht (x)

7,44

22,87

5,13

P/B (x)

1,30

1,55

1,40

6,17%

2,96%

7,38%

ROA (%)

4,64%

1,37%

21,45%

ROE (%)

17,78%

7,95%

24,00%

Li c tc (%)

EPS iu chnh (ng)

1.616,68

HT1

1.545

840

10.457

LN gp bin (%)

20,12%

12,10%

20,50%

LN thun bin (%)

10,57%

3,08%

18,10%

5,4

1,01

5,52

Tng n /VCSH (x)

2,96

4,79

0,12

S hu nc ngoi (%)

3,42

1,78

4,31

T l TT hin hnh (x)

bit thm thng tin chi tit v m c phiu ny. vui lng truy cp trang web
Ezsearch ca chng ti ti a ch http://ezsearch.fpts.com.vn
(*)

BC Li /l (triu VND)

Q1 2009

2008

2007

323.243

1.195.058

1.061.576

Li nhun gp

77.988

292.396

365.509

Li nhun thun t HKD

32.832

119.181

90.422

Li nhun trc thu

33.044

121.360

101.024
101.024

Doanh thu thun

Li nhun sau thu

28.913

104.369

31/03/2009

2008

2007

Ti sn ngn hn

2.249.172

2.267.581

650.373

TSC v XDCB

2.015.319

1.883.221

1.674.358

Bng CKT (triu VND)

Ti sn di hn khc
Tng ti sn
N ngn hn

(*)

31.219

35.681

21.044

4.295.710

4.186.483

2.345.775
838.511

783.529

863.631

N di hn

2.364.988

2.200.246

477.007

Vn ch s hu (VCSH)

1.147.193

1.112.606

1.030.257

Tng ngun vn

4.295.710

4.186.483

2.345.775

31/03/2009

2008

2007

Doanh thu thun (%)

27,79

12,57

76

Li nhun thun (%)

199,00

31,80

34,74

Vn ch s hu (%)

10,40

8,96

5,40

Tng ti sn (%)

79,60

78,50

10.16

Li nhun gp bin (%)

24,13

24,50

34,43

Li nhun thun bin (%)

10,16

9,97

8,52

ROA (%)

0,67

2,50

4,30

ROE (%)

2,52

9,38

9,30

EPS c bn (ng)

318

1.152

1.122

T l TT hin hnh (x)

2,87

2,63

0,78

Tng n/VCSH (x)

2,74

2,75

1,28

Cc ch s ti chnh
Tng trng

(*)

(**)

: Bo co ti chnh cha kim ton ca BTS qu 1 nm 2009.

So snh vi cng k nm trc

(**):

Phn tch ti chnh

Mc d t sut li nhun thun trn doanh thu ca BTS khng cao so
vi mt s doanh nghip cng ngnh khc nh SCJ, BCC, nhng kt
qu kinh doanh ca BTS ngy cng c ci thin, thng qua doanh
thu v li nhun thun tng ln lt 17,8% v 35% so vi cng k nm
ngoi. Kt qu ly k 4 qu gn nht cng tng tng ng 3,7% v 7%
so vi c nm 2008. y c th coi l kt qu ng khch l vi khng
ch BTS m cn i vi ngnh xi mng ni chung,
T l n trn vn ch s hu ca cng ty tng t 1,28 ln nm 2007 ln
2,7 ln cui qu I 2009, ch yu tp trung n di hn v tp trung ti
tr cho lng ln hng tn kho. Gi vn hng bn tnh ly k 4 qu gn
nht t 935 t ng, nhng s d hng tn kho cui qu ln ti hn
1,900 t ng, cao gp 2 ln so vi s tiu th c 12 thng. y c th
coi l s bt hp l trong c cu vn khi s dng mt lng ln vn di
hn vi chi ph vn cao cho u t ti sn ngn hn nh vy.
ROE ca BTS thp hn so vi 2 cng ty l BCC, SCJ v cao hn ca
HT1. ROA cao hn bnh qun ngnh nm 2007, tuy nhin trong nm
2008 cng ty tng n di hn ln 4,6 ln khin ROA gim xung
thp hn trung bnh ngnh.
Nhn v trung hn cng ty c nhiu iu kin thun li t c mc
tng trng li nhun kh khi m chu k u t ca nn kinh t ang
tp trung pht trin bt ng sn v c s h tng. Cng ty c iu kin
thun li khi l nh cung cp ln khu vc min Bc trong khi nhu cu
u t cng vo c s h tng v xy dng dn dng ang tng mnh
m khin cho gi xi mng tng ln hn 100 nghn/ tn so vi thi im
cui nm 2008. Ngoi ra tuyn ng cao tc H Ni-Lo Cai s s
dng nhiu xi mng lm ng b tng thay vic s dng ng tri
nha tn nha ng nhp khu v cht lng ng thp hn.
Ngi phn tch: Nguyn Minh c ducnm@fpts.com.vn

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Qun ng a - H Ni - Vit Nam
T: (84,4) 3 773 7070 / 271 7171
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Chi nhnh Tp, H Ch Minh

31 Nguyn Cng Tr- Phng Nguyn Thi Bnh
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