Outlet for PR analyse Q1 2011 -ver 12 05 2011 - final

EVE : Excellent business performances in the 1st quarter, 2011 with high turnover at VND160.7bil., an increase of 98.1% in comparison with the same period of last year, achieving 30.9% over the plan and NPAT at VND37.8bil., an increase of 228% and achieving 28.9% of yearly plan (VND130bil.) Highest quarterly sales performance since establishment Everpia Vietnam JSC (HSX: EVE)– had achieved the sales amount of VND160.7bil during the first quarter of 2011, an increase of 98.1% in comparison with the same period of 2010, exceeding the plan by 30.9% (VND122.7bil.) Item - Bedding Sales - Padding Sales Total Q1, 2009 63,341 12,961 76,301 Q1, 2010 60,031 21,095 81,126 % -5.2% 62.8% 6.3% Q1, 2011 111,890 48,786 160,676 % 86.4% 131.3% 98.1% Among total sales, Bedding represented 70%, an increase of 86.4% from Q1, 2010 and exceeding the plan by 19.5% due to exceptional level of sales in February (+252.4%) as agents increased orders in anticipation of March price increase and exports to Korea and Japan (over VND11bil.) which was not started yet in Q1, 2010 As the Padding season started earlier in 2011, in January instead of March, total revenue from this business in Q1 2011 increased by 131.3% to reach VND 48.8bil., exceeding the plan by 67.8% Although the price of fiber and fabric was increased by more than 30% in the first quarter 2011, gross profit margin of EVE was improved to 43.5% from 41.4% in 2010 thanks to the B.O.D’s decision to import raw material in advance before the USD/VND adjustment and oil price surge Item Q1, 2010 % to sales Q1, 2011 % to sales In/Dc % Net Sales 81,126 100.0% 160,676 100.0% 79,354 98.1% Gross profit 34,041 42.0% 69,968 43.5% 35,927 105.5% Financial Income 2,472 3.0% 4,001 2.5% 1,529 61.8% Financial Expense 5,530 6.8% 2,110 1.3% (3,419) -61.8% SG&A 16,905 20.8% 24,996 15.6% 8,091 47.9% NPBT 14,313 17.6% 46,922 29.2% 32,609 NPAT 11,437 14.1% 37,537 23.4% 26,100 228.2% No of Shares (*) 12,327,996 15,327,996 3,000,000 24.3% EPS (VND) 928 2,449 1,521 164.0% (*) 3,000,000 shares was private issued in July, 2010 While the sales increase 98.1%, SG&A expenses was increased 47.9% only, mainly due to higher salary Financial income came from bank deposits and the financial loss came from negative exchange rate fluctuation In 1st quarter, 2011, NPAT of EVE reached VND37.5bil increasing by 228.2% in comparison with the same period of 2010 NPAT (VND11.4bil.), and exceeding the plan (VND22.1bil.) by 69.3% Stable financial status Financial situation of EVE remains very sound EVE kept positive cash position at the end of Q1 2011 (VND 165.8bil), in reduction in comparison to December 2010 due to higher working capital needs for seasonal reasons and anticipation of raw material purchases Current ratio and quick ratio still remained at high rank which was 4.7 and 2.4 in turn Book value was VND39,909 at 31st March 2011 BUSINESS PERFORMANCE IN APRIL 2011 April is another successful month for EVE, with total sales of VND46.7bil., an increase of 65% in comparison with April, 2010 and estimated NPAT at VND10.4bil FORECAST With current business performances, EVE is confident it can achieve its 2011 targets for sales and profit Up to April 2011 EVE has attained 28.9% of its sales plan (VND719bil.) and 37% of its profit plan (VND130bil.) Q1, Plan Q1, Actual Q2, Plan Q3, Plan Q4, Plan Bedding 93,664 111,890 54,031 97,809 253,243 Padding 29,074 48,786 74,507 79,540 37,722 Sales 122,738 160,676 128,538 177,349 290,965 Profit 22,174 37,537 23,221 32,039 52,565 RECENT EVENT On 16th April, the Annual Shareholder’s Meeting approved the distribution of cash dividend at 20% par value from 2010 NPAT and the issuance of bonus share to current shareholders at the rate of 2:1 COMING EVENT EVE has started procedures with SSC and VSD for dividend payment and bonus share The closing date for the shareholder list will be on May 25th Cash dividend will be paid from June 15th and the bonus share issuance would be in Q3 2011 For more information, please contact: Ms Phan Mai Linh Planning Team Manager Tel: 04.3 827 6490 (ext: 347) Email : info@everpia.vn / mailinh@everpia.vn ... VND39,909 at 31st March 2011 BUSINESS PERFORMANCE IN APRIL 2011 April is another successful month for EVE, with total sales of VND46.7bil., an increase of 65% in comparison with April, 2010 and estimated... and estimated NPAT at VND10.4bil FORECAST With current business performances, EVE is confident it can achieve its 2011 targets for sales and profit Up to April 2011 EVE has attained 28.9% of its... its profit plan (VND130bil.) Q1, Plan Q1, Actual Q2, Plan Q3, Plan Q4, Plan Bedding 93,664 111,890 54,031 97,809 253,243 Padding 29,074 48,786 74,507 79,540 37,722 Sales 122 ,738 160,676 128 ,538