VITTO GROUP JOINT STOCK COMPANY

VITTO GROUP JOINT STOCK COMPANY, headquartered in Tam Duong II Industrial Park in Phu Tho Province, is a Vietnamese manufacturer and distributor of construction materials with a growing national presence. Operating under Business ID 2500578360 since 2017, the company has rapidly scaled its operations, supported by a workforce of approximately 1,500 employees and multiple branches across Dong Thap, Can Tho, and Ho Chi Minh City. With a focus on ceramic tiles, building materials, and machinery trading, VITTO has built a recognizable brand in Vietnam’s mid- to high-end construction market.

Backed by a paid-up charter capital of over USD 40.67 million, VITTO GROUP JOINT STOCK COMPANY is led by Nguyen A. T. (Chairman), Nguyen X. Q. (Deputy Chairman), and Cao T. K. C. (General Director). Despite strong leadership and infrastructure, recent financial statements reveal that the company is currently experiencing a downturn amid broader headwinds in Vietnam’s real estate and construction sectors.

As of the fiscal year ending 2023, VITTO GROUP JOINT STOCK COMPANY reported total assets of approximately USD 117.4 million, a 10.6% increase from 2022. However, this asset growth failed to translate into profitability. Sales dropped sharply from USD 172.1 million in 2022 to USD 119.8 million in 2023—a decline of more than 30%. The company also swung from a modest profit of USD 649,287 in 2022 to a net loss of USD -886,708 in 2023, reflecting a contraction in demand, rising input costs, or potential inventory overstocking. The erosion of owner’s equity by over 2% further confirms the strain on shareholder value and capital retention.

With negative profit margins for two consecutive years, declining revenue, and asset contraction forecasted into 2024, VITTO is facing growing pressure to realign its business strategy. The construction materials sector in Vietnam remains highly competitive and sensitive to macroeconomic cycles, particularly the health of real estate investment and infrastructure spending. For VITTO, improving operational efficiency, enhancing product innovation, and diversifying market channels will be essential to weathering this financial turbulence.

Nonetheless, the company’s size, nationwide distribution network, and control over its supply chain offer a foundation for recovery if strategic changes are implemented promptly. VITTO’s leadership team must act decisively to reduce cost burdens, boost exports, or consider joint ventures to stay competitive in the coming years.

To access the most up-to-date financial performance, risk assessment, and detailed shareholder breakdown of VITTO GROUP JOINT STOCK COMPANY, stakeholders are encouraged to purchase the full report through VANGUARD BUSINESS INFORMATION LLC (VNBIS.COM). The full report includes exclusive data on subsidiaries, debts, contracts, and credit standing—critical for investors, lenders, and partners seeking deeper insights into one of Vietnam’s key players in the building materials sector.