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Kangaroo water purifier company escaped losses

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Kangaroo water purifier company escaped losses
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Kangaroo water purifier company’s after-tax profit from negative to VND 5 billion in 2023, the company also buys back bonds before maturity.

According to recently announced financial information, last year Kangaroo International Joint Venture Joint Stock Company had nearly 5.2 billion VND in profit after tax. This number is an increase of more than 70 billion compared to a loss of nearly 65 billion VND in 2022. However, the above profit is only 17% compared to 2021.

Kangaroo’s other financial indicators also recovered. Equity increased by 5%, to nearly 749 billion VND. At the same time, total liabilities decreased by 7%, to VND 1,700 billion.

The company also bought back all outstanding bond debt before maturity at the end of June 2023. Previously, a bond batch of 102 billion VND, with an interest rate of 10% per year, was issued by Kangaroo in August 2022, with a term of three years. Last year, the company spent nearly 8.4 billion VND to pay interest to bondholders.

Kangaroo International Joint Venture Joint Stock Company was established in 2021, a cooperation between Viet Uc Electric Refrigeration Group Joint Stock Company and Noritz Group (Japan). The strategy of these two units is to bring Japanese quality products produced by Vietnamese people to the international market.

Meanwhile, Kangaroo Group has been on the market since 2003 with its main product being water purifiers. This brand has struggled in business year after year. Until May 2011, the company placed a full 15 minutes of advertising before, during and after the live coverage of the C1 final with a mere 5-second message repeated 54 times: “Crap! Kangaroo – Vietnam’s leading water purifier”. This “irritating” advertisement has made Kangaroo’s name known to many people. After the campaign, the company’s revenue increased by 400%.

In the following years, Kangaroo became one of the “big men” in the domestic electronics industry. In the period 2017-2020, revenue and profit increased continuously. The peak fell in 2020, revenue reached more than 2,660 billion VND and profit after tax was more than 220 billion VND. On average, this water purifier company earns more than 600 million VND per day.



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