Biwase continues its plan to expand the capacity of water supply plants in Dong Nai, Binh Phuoc, Long An, Can Tho, and other areas in 2025, while also investing in phase 2 of a waste-to-energy plant.

On the afternoon of February 10, Binh Duong Water - Environment Corporation - Joint Stock Company (Biwase, ticker BWE - HoSE exchange) held a meeting to report its 2024 business results, 2025 business outlook, and long-term development strategy.

Mr. Nguyen Van Thien, Chairman of Biwase’s Board of Directors, stated that with a strategy focused on green production, circular economy, and investment in challenging sectors to protect the environment, Biwase continues to affirm its pioneering role in the sustainable development of Bình Dương

Mr. Nguyen Van Thien – Chairman of Biwase

By the end of Q4/2024, Biwase recorded revenue of 1,190.52 billion VND, up 5.6% compared to the same period last year. For the full year, cumulative revenue reached 3,958.98 billion VND, a 12.3% increase year-on-year. After-tax profit for Q4 was 152.96 billion VND, up 1.5% from the same period, while the cumulative profit for 2024 was 664.09 billion VND, equivalent to 97.4% of the previous year’s figure. Notably, the water loss rate decreased from 5% to 4.8%.

In 2024, the revenue structure showed that clean water supply accounted for 58% of total revenue, waste treatment contributed 20%, wastewater treatment made up 2%, and the remaining 20% came from other sectors.

Regarding market share in Binh Duong province, Biwase holds 100% of the water supply segment, 100% of the wastewater treatment sector, 100% of the household waste treatment segment, and 30% of the industrial waste treatment sector

Additionally, since its privatization in 2016, Biwase’s water output has grown at an average rate of 11% per year over the past eight years, with each year’s output surpassing the previous year. Meanwhile, the number of water supply connections has increased from 390,643 customers. The volume of household and industrial waste processed has also seen an average annual growth rate of 7% over the same eight-year period. Specifically, in 2016, water consumption reached over 98 million m³ with a water loss rate of 6.5%. By 2024, consumption had risen to over 200 million m³, achieving 104% of the planned target, a 9% increase compared to the previous year, and the water loss rate had dropped to just 4.8%.

Highlighting key achievements in 2024, the leadership of Biwase noted that the company inaugurated a waste incineration plant with a capacity of 2,520 tons per day, generating 5 MW of electricity, in January 2024. The company also restructured four branches into four one member limited companies, including: Biwase Environmental-Technology-Science Complex LC (Biwase E.T.S) with a charter capital of 850 billion VND; Biwase Binh Phuoc Water Supply one member LC (Biwase B.P) with a charter capital of 400 billion VND; Biwase Production-Trade-Service one member LC (Biwase E.T.S) with a charter capital of 40 billion VND; and Biwase Consulting one member LC (Biwacons) with a charter capital of 10 billion VND. Additionally, Biwase launched five companies, comprising the four restructured branches and the newly established Biwase Long An Water Joint Stock Company

Regarding investment activities, by the end of August 2024, Biwase completed the acquisition of 2.35 million shares, equivalent to 47% of the charter capital of Saigon – Can Tho Water Joint Stock Company. The company also held an extraordinary General Meeting of Shareholders to rename it Biwase Can Tho Water Joint Stock Company, re-elect executive personnel, and devise a financial plan to restart the Saigon – Mekong Water Plant project, which has a capacity of 50,000 m³/day. The project is expected to be completed and operational by Q2/2025.

Notably, on December 31, 2024, Biwase officially finalized the acquisition of shares in Tan Hiep Water Investment Joint Stock Company, securing a 43% ownership stake. This company owns the Tan Hiep Water Plant, with a capacity of 300,000 m³/day, located in Ho Chi Minh City. Biwase personnel will participate in the management of this entity, including three members of the Board of Directors, one member of the Board of Supervisory, and one General Director (who will serve as the legal representative)

Investors listen to the sharing and answers to questions from Mr. Nguyen Van Thien

The Tan Hiep Water Plant, with a capacity of 300,000 m³/day, supplies clean water to the districts and counties in the western part of Ho Chi Minh City. This is considered a potential market that contributes to providing quality-assured clean water for the residents of Ho Chi Minh City," emphasized Chairman Nguyen Van Thien, highlighting the potential of Tan Hiep Water Investment in the Ho Chi Minh City market.

With a positive business plan for 2024, Biwase expects to hold its 2025 Annual General Meeting of Shareholders by the end of March 2025 to approve the business plan and the 2024 dividend payout plan at a rate of 13% in cash. The dividend payment for 2024 is scheduled to be executed in Q2/2025.

Moving into 2025, Biwase has set a plan targeting a minimum total revenue of 5,220 billion VND, a minimum after-tax profit of 680 billion VND, a total water production capacity of 979,000 m³/day, a minimum dividend of 13%, and a company-wide water loss rate of 4.8% or lower.

Regarding Biwase Long An, the company will initiate a project to increase the capacity of the Nhi Thanh Water Plant by an additional 60,000 m³/day, bringing the total capacity to 120,000 m³/day, with official operations expected to commence in Q3/2025. At the same time, it will expand its water supply service coverage to Can Giuoc and Can Duoc districts (Long An province). Additionally, during the 2027-2030 period, Biwase Long An plans to invest further to boost the capacity to 300,000 m³/day.

For Biwase Quang Binh, in the 2025-2030 period, the unit aims to increase the plant’s capacity to 30,000 m³/day, while developing and expanding the water supply system to serve the entire Quang Trach district and surrounding areas.

For the unit in Dong Nai, Gia Tan Joint Stock Company has set a target capacity of 100,000 m³/day by 2025. In Binh Phuoc, the company plans to expand the phase 3 capacity of the Chon Thanh Water Plant from 30,000 to 60,000 m³/day, with an estimated investment of 120 billion VND, expected to be completed and operational in Q1/2025. As for the unit in Can Tho, the construction of the Saigon – Mekong Water Plant, with a capacity of 50,000 m³/day, is projected to be completed and put into use in Q2/2025

Lastly, specifically in Binh Duong province, Biwase plans to invest 500 billion VND to expand the water supply network and 800 billion VND in phase 2 of the waste incineration project, which includes constructing a furnace with a capacity of 500 tons/day combined with a 12 MW power generation system. This will increase the total capacity of the waste-to-energy plant to 17 MW.

It is known that Biwase has completed and submitted to the Binh Duong provincial authorities a proposal for approval to adjust the prices of its products and services, including clean water, waste treatment, and wastewater treatment unit rates.

Regarding Biwase, the company operates in three main sectors: production and distribution of clean water, waste treatment, and wastewater collection and treatment. In Binh Duong province, Biwase manages and operates 9 water plants with a distribution network totaling 6,969 km, a 100-hectare integrated waste treatment complex, and 4 wastewater treatment plants. Outside of Binh Duong, Biwase is involved in managing and operating more than 17 water plants across provinces such as Ho Chi Minh City, Dong Nai, Binh Phuoc, Long An, Can Tho, Vinh Long, Quang Binh, and others.

Furthermore, by the end of 2024, Biwase boasts a water supply capacity of 979,000 m³/day, a wastewater treatment capacity of 87,000 m³/day, and a household waste treatment capacity of 3,000 tons/day

Source: https://baodautu.vn/biwase-he-lo-ke-hoach-nang-cong-suat-cap-nuoc-tai-cac-tinh-thanh-trong-nam-2025-d245281.html