May row export to EU market at Thai Nguyen Garment Company. Illustration: Tran Viet / VNA
As observed by Securities SSI, at a company that produces goods that can be defaulted in the country, customers shorten the time to pre-order, except for the holiday in the fourth quarter due to the amount of inventory in the export market. high level and development pressure. Previously, customers used to order 6 months in advance, now they only order 3 months in advance.
Chairman of the Vietnam Textile and Apparel Association Vu Duc Giang predicted that in the second half of 2022, the world market will have many unpredictable fluctuations, putting many formulas for businesses and the target export of the entire textile and garment industry.
The strong situation in the US and Europe makes the free exercise price increase which will increase the purchasing power of used commodities; in which, may decrease in value, affecting orders of enterprises in the third and fourth quarters.
SSI analyst said that the negative impact on revenue and profit margin could happen if the US economy - Vietnam's main export market weakens or the pressure on inflation is higher. It is estimated that revenue growth of textile and garment manufacturing companies in Vietnam will decelerate in the last 6 months of 2022 and 2023.
Meanwhile, in the system of the General Department of Customs in the first 5 months of 2022, Vietnam's textile and garment export turnover reached 15 billion USD, up 22.2% over the same period last year, corresponding to an increase of 2.73 billion USD. Exports increased sharply to the US market with an export value of 7.58 billion USD, up 26.1%, equivalent to 1.57 billion USD and contributed 57% to the value of this export group. country.
Along with development pressure, the tension between Russia and Ukraine did not recover when oil prices, shipping costs continued to grow, production costs of enterprises increased, the price of raw materials increased by nearly 30% compared to before. are the formulas that Vietnamese textile and garment enterprises have to face.
Companies also expect yarn, fabric, logistics and labor costs to remain high due to rising oil prices and competition in the labor market, mainly with FDI factories. This negatively impacts the entire textile supply chain, from manufacturer to retailer. Gross profit margin of domestic manufacturing companies continued to shrink.
General Director of Garment 10 Corporation Than Duc Viet said that although the company had orders until the end of the third quarter, a number of strong products such as shirts and vestons had orders until the end of 2022, but if the market slow consumption, the inventory ratio of importers increases, customers can adjust down or cancel orders suddenly. With the production chain, the cost of raw materials and fuel increases, leading to an increase in production costs, and the profit margin of enterprises is increasingly narrow.
This year, some businesses have adjusted their business plans in a lower direction. The General Meeting of Shareholders of Song Hong Garment Company approved the plan of net revenue and profit before tax of 4.9 billion dong, up 3% over the same period last year and 500 billion dong, down 8% compared to the same period last year. with the same period.
According to a representative of Song Hong Garment, the prudent plan is set out from the complications arising from the social distancing situation in China, a country where the company relies heavily on imported fabrics.
Before that, a number of textile and garment enterprises still recorded positive business results in the first 5 months of the year. Thanh Cong Textile - Investment - Trading Company has net revenue and net profit of 77.4 million USD respectively, up 15% over the same period last year and 4.4 million USD, up 6% compared to the same period last year. same period; completed 43% and 41% of the year plan.
In the same period, TNG Investment and Trading Company achieved net revenue and net profit of 2,500 billion dong, up 42% over the same period last year and 87 billion dong, up 58% over the same period; completed 41% and 31% of the year plan. With a high proportion of CMT (Cut, Make, Trim) orders, TNG is under less inflationary cost pressure than other companies. Or, TNG's profit margin will be more stable than that of the FOB (Free On Board) manufacturing company when these companies face increasing costs of fabric and logistics as above.
The trading session this morning (June 27) witnessed the green color of the market spreading across all categories; in which, textile and garment stocks increased positively, up to 4%. Closing the session, MSH stock of Song Hong Garment was priced at 52,100 VND/unit; Thanh Cong's TCM shares are priced at VND 47,200/unit and the market price of TNG shares of TNG Investment and Trading Company is VND 30,800.
Diep Anh (TTXVN)
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