07/01/2021
Step through the challenging year 2020, Traphaco JSC achieved good growth thanks to the flexibility and rapidly turnaround to adapt with the impacts of the covid-19 pandemic. This is also the year that Traphaco chose to build culture in the new phase.
Step through the challenging year 2020, Traphaco JSC achieved good growth thanks to the flexibility and rapidly turnaround to adapt with the impacts of the covid-19 pandemic. This is also the year that Traphaco chose to build culture in the new phase.
In 2021, Traphaco hopes to enter a new period of growth, continue to implement Traphaco Culture in the new phase, accept difficulties, challenges and changes so that Traphaco continues to progress further on the path of development. bringing value to shareholders, employees and the entire society.
Traphaco has entered 2020 with many changes, fluctuations and challenges. The COVID-19 pandemic was complicated, making many economic activities significantly reduced. The purchasing power of the people decreased, the pharmaceutical market in general and pharmaceutical companies in particular were severely affected. Statistics show that pharmaceutical companies maintained growth momentum in the First Quarter due to taking advantage of the opportunity for increased demand for health care products because of the epidemics. However, by the end of the Second Quarter, most of pharmaceutical companies witnessed a decline in revenue and profit. The pharmaceutical companies listed on the stock exchange only increased slightly in profit, equivalent to 2% and decreased 4% in revenue compared to the same period.
Traphaco enters 2020 with new values created from 5 major solutions in 2019. Five key solutions are:
1. The company's strategic objectives in 2020 are transformed into KPIs of all departments, that quickly implement the targets at the beginning of the year, assists in fulfilling 41/46 targets.
2. Apply KPI results associated with 3Ps salary for the salary system: In addition to focus on revenue, the Sales Department also focuses on customer targets, coverage, and SKU that creates a premise for sustainable business development. .
3. Marketing is flexible and adaptable to changing environmental conditions: The point accumulation program - "Customers Personalization" innovation is remarkable, successfully applied to key product groups, growing 31%, reaching 120% of the set plan. Campaigns such as: Series of anti-epidemic products, Traphaco and stocks, Boganic Herbal Tea and Miss Vietnam 2020; Enhancing online communication during social distancing (Facebook, YouTube…) is highly appreciated.
4. Assigning the optimal cost limit for all work segments: According to KPMG's report (Q4/2020) on the financial ratios of the pharmaceutical companies in the market, the Cost of Goods Sold and EBITDA of Traphaco are all at the best rate compared to other companies; Traphaco's Selling, General & Administration Cost and Inventory Expenses are high compared to the average level.
5. Orientation to promote hospital sales: Despite being significantly affected by the epidemic, Traphaco's ETC segment has been increasingly strengthened in terms of personnel, processes, and appropriate policies to exploit well the products of group 1 Bidding package of traditional medicine and generic medicine.
In 2020, Traphaco successfully built the new phase Traphaco culture; deploying a series of training and communication activities to all levels in the company, stimulate changes in thinking and action in order to optimize the capacity of Traphaco's team in the coming future.
With the solutions implemented in 2020, Traphaco has achieved major targets such as:
Ms. Vu Thi Thuan - Chairman of the Board of Directors of the Company speaking at the conference
At the Conference on Summary of Work in 2020, Chairman of the Board of Directors of the Company - Ms. Vu Thi Thuan, on behalf of the Board of Directors, congratulated the results of the continuous efforts of Traphaco's Board of Management and employees in 2020 and giving orientation to the plan targets for the year 2021. In which:
General Director Tran Tuc Ma – Speaking at the Conference
In the coming year 2021, Traphaco expects to enter a new period of growth. The company organized the General Meeting of Shareholders for the term 2021-2026, elected the Board of Directors and new Board of Directors. This is also the year that the Company will need to restructure the system, with many important innovations to meet the growth expectations of shareholders and employees. The year 2021 was chosen by General Director - Mr. Tran Tuc Ma as the year "Standardizing Process" with the message: "CULTURE IMPLEMENTATION - PROCESS EFFICIENCY". The whole company believes that 2021 will be the sucessful beginning with the period of 2021-2025 with many new successes.
Some award titles of Traphaco in 2020
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