In the context of a highly volatile global transportation market, SOTRANS Group along with its member units, Sowatco and Vietranstimex, successfully organized the 2022 AGM Annual General Meeting of Shareholders.
During the meeting, strategic reports were approved with high consensus, affirming the internal strength and the sound vision of the Group’s leadership.
2022 AGM Annual General Meeting report
Growth miracle amidst the pandemic
Despite challenges from the global health crisis and escalating fuel costs, SOTRANS Group recorded outstanding growth figures. Record Revenue Reached VND 2,886 billion, representing a 42% increase compared to 2020 and exceeding the set plan by 24%. Impressive Profit Profit before tax and profit after tax reached VND 302 billion and VND 246 billion respectively, showing growth rates of 17% and 15%. Asset Capacity Total assets of the group increased from VND 2,339 billion to VND 2,684 billion.
This success stems from flexible adaptation, sharp business planning, and the concentration of resources on the Group’s core activities.
Key investment and modernization of operational capacity
The year 2021 marked a major step for SOTRANS in enhancing its capacity to serve international supply chains. Fleet Expansion Invested in two new 300-TEU container vessels to serve inland waterway transport routes. Infrastructure Upgrades Construction and investment in modern equipment for Long Binh Port, including Liebherr cranes, a new fleet of prime movers, and an 800T crane to serve wind power projects. Digital Transformation Continued to finalize and implement advanced Port, Logistics, and Accounting management software to optimize operational processes.
The 5-pillar strategy for a new development phase
To realize the post-Covid acceleration goals for the 2021–2024 period, SOTRANS Group established five core strategic pillars.
(1) Business Model Specialization
SOTRANS Logistics focuses on international transport and warehousing, Vietranstimex leads in the oversized and overweight cargo segment, and Sowatco maximizes port infrastructure.
(2) HR and Organizational Transformation
Restructuring the organization and focusing on training high-quality human resources to meet strong growth demands.
(3) Asset Restructuring and Optimization
Ensuring the most effective use of capital and assets.
(4) Operational Excellence
Optimizing management systems and procedural regulations.
(5) Business Integration
Creating synergy among all member units.
With a 47-year legacy and the united spirit of the entire team, SOTRANS Group along with Sotrans Logistics, Sowatco, and Vietranstimex is steadily entering a new stage of growth, affirming its position as an excellent nucleus on the journey to bring Vietnam’s logistics industry to the global stage.
(SOTRANS Group News)
