Vallibel One stood well-poised as a young and a dynamic diversified conglomerate amidst an unprecedented year.
Market dominance and brilliantly executed strategy
Having garnered 5th place, Vallibel One, in what marked an extraordinary year, stood well-poised to excel as a young, dynamic, and diversified conglomerate.
Valiantly led by its Chairman, the inspirational and highly respected business leader and magnate, Dhammika Perera, Vallibel One’s business perceptiveness combined with market dominance in key sectors of the economy showcased its strength and resilience.
The Company’s well-thought-out and brilliantly executed strategy across all businesses—leveraging expertise and consolidating the positioning, secured the tangible realization of strategic aspirations.
A record-breaking consolidated performance
In the face of the complex market conditions, Vallibel marked a record-breaking consolidated performance.
The Conglomerate’s top-line earnings increased by a noteworthy 18 percent to touch Rs. 81,035 million while net profits reached record-highs of Rs. 14,689 million. Led by lifestyle and finance sectors, Vallibel’s group Capex reached Rs. 52,595 million while its asset position at year-end stood at a remarkable Rs. 240,132 million.
The return on equity was positive at 15.6 percent. This year, Rs. 3.50 per share were paid as dividends to shareholders.
Remarkable profitability complemented by solid top-line results
Overcoming all challenges the Plantations, Aluminum, Consumer goods, and Packaging sectors also registered positive results, with a vigorous 12.6 percent share of the top-line. Complemented by solid top-line results, the profitability during the year was remarkable.
The focus on maintaining an optimal cost structure, prudent debt measures across the businesses combined with lower finance costs, ultra-expansionary monetary policy measures, and lower corporate taxes helped strengthen the bottom line further. Profit before tax stood at Rs. 19 billion, up by 93 percent over the preceding financial year. The annualized return on equity registered a 15.6 percent, an improvement of 7.73 percentage points, whilst earnings per share reached Rs. 7.13. The financial position adequately covers all liabilities.
A socially responsible corporate citizen shining light amidst the gloom
As an exemplary conglomerate, corporate responsibility has always been essential to the Vallibel One value system.
The Group strived to be structured and focused in its social initiatives, enabling the impoverished masses access to education, employment, and healthcare.
The reporting year mainly concentrated on pre-school development, relief support for COVID-19, including donations of 13 ventilators valued at Rs. 56.2 million to national hospitals, and comprehensive welfare measures for its estate communities.
The future remains bright
Looking beyond, Vallibel One expects the nation to revive with greater economic activity and optimism, solidifying business confidence and attracting much-needed investment into the country in the mid and long-term. The potential to gain and grow within this emerging economic scenario is immense for such a diversified group. Its expertise, blended with contemporary and pragmatic thinking to manage the risks and take on new opportunities, will catapult the group businesses towards a solid growth trajectory.