Bamboo Capital’s after-tax profit grows 98.2% in Q2
Vietnam private conglomerate Bamboo Capital Group posted after-tax profit of VND318.6 billion ($12.62 million) in the second quarter of 2024, up 98.2% year-on-year.
In its Q2 financial statement announced on Tuesday, Bamboo Capital, listed on the Ho Chi Minh Stock Exchange (HoSE) as BCG, reported net revenue of VND1.12 trillion ($44.36 million) in the quarter, a year-on-year 0.04% hike.
The revenue mainly came from renewable energy with VND369.4 billion ($14.63 million), accounting for 33.1%, infrastructure construction VND338.5 billion or 30.4%, and financial services VND180.2 billion or 16.2%.

Renewable energy continues to be a major source of revenue for BCG in the second quarter of 2024. Photo courtesy of the company.
In the first half, the firm recorded consolidated net revenue of VND2.1 trillion ($83.17 million), up 15.7% over the same period in 2023.
Major contributors were renewable energy (VND689.8 billion or 32.8%), infrastructure construction (VND560.7 billion or 26.7%), and financial services (VND366.0 billion or 17.4%.
Revenue from renewable energy surged in the six-month period thanks to the good performance of solar power plants, notably the 330-megawatt Phy My Solar Power Plant with output reaching 268 million kWh, a year-on-year rise of 44.9%.
Renewable energy subsidiary BCG Energy is gradually becoming an important pillar, while infrastructure construction arm Tracodi continues contributing positively thanks to the acceptance of projects and stone production-mining activities.
Bamboo Capital's after-tax profit in H1 hit VND416.8 billion ($16.5 million), up 137.3% year-on-year.
Another reason behind the impressive profit hike was Bamboo Capital’s Q2 financial expenses dropping sharply by VND413.0 billion, or 32.1% year-on-year.
Financial costs from BCG Energy were effectively managed as it proactively bought back all the two private placement bond packages worth VND2.5 trillion ($99 million) before maturity, significantly reducing pressure on interest and collateral management costs.
The group’s total assets as of June 30 reached more than VND45.3 trillion ($1.8 billion), up 7.9% compared to the beginning of 2024 due to the merger of Tipharco Pharmaceutical JSC, listed on the Hanoi Stock Exchange (HNX) as DTG, into the Bamboo Capital ecosystem.
Notably, Bamboo Capital's equity at end-June was VND20.99 trillion ($831.3 million), up 20.2% from the beginning of the year thanks to the group’s capital expansion to VND8 trillion ($316.86 million) from the public offering of shares in Q2/2024. Its financial leverage ratio was brought down to a safe level.
As a result of charter capital hikes, the debt-to-equity ratio significantly dropped from 2.2 times at end-2022 to 1.2 times on June 30, 2024. Bamboo Capital's loan-to-equity ratio also decreased to 0.6 times.
As Bamboo Capital invests heavily in capital-intensive industries such as renewable energy and real estate, achieving the above leverage ratios shows its great efforts to bring debt balance to an ideal level, lower than other businesses in the same industry.
In H1, Bamboo Capital minimized external investment activities, focusing on investing in core business activities. Its cash flow statement shows that the group’s net cash flow from financial activities changed from negative VND1.07 trillion to positive VND2.47 trillion ($97.82 million) at end-Q2/2024 thanks to revenue from the public share offering.
Bamboo Capital is actively adding capital to serve business activities, while maintaining its liquidity at safe levels.
At end-Q2/2024, the corporation completed 34.4% and 43.8% of its year revenue and after-tax profit plans outlined at the 2024 AGM.
In general, its business activities in the first six months of the year had many bright spots, with most core business segments maintaining stable operations or starting to change positively.
In the real estate segment, BCG Land, another subsidiary of Bamboo Capital, is preparing to hand over and operate the entire Malibu Hoi An condotel project. It is also speeding up the progress of King Crown Infinity and Hoian d'Or projects and the rest of Malibu Hoi An to soon hand over products to customers.
In Q3/2024, BCG Land is expected to offer for sale the remaining part of the King Crown Infinity project.
Bamboo Capital's energy segment has continuously received good news. BCG Energy has announced its 2024 semi-annual consolidated financial statement with impressive business growths.
Its net revenue and after-tax profit reached VND689.8 billion ($27.32 million) and VND290.7 billion ($11.5 million), 22% and 33 times higher than the same period last year, respectively.
On July 31, BCG Energy officially traded its 730 million shares coded BGE on the Unlisted Public Companies Market (UPCoM) at a reference price of VND15,600 ($0.62) per share.
BCG Energy is urgently implementing wind power projects Dong Thanh 1 (80 MW) and Dong Thanh 2 (120 MW) in the Mekong Delta province of Tra Vinh province and Khai Long 1 (100 MW) in the southernmost province of Ca Mau. Once coming into operation in 2025, these projects will increase BCG Energy's total power generation capacity by more than 50%.
BCG Energy also started construction of the Tam Sinh Nghia waste-to-power plant in Cu Chi district, Ho Chi Minh City on July 20. The first phase of the plant will be implemented from 2024 to 2025 with a total investment of VND6.4 trillion ($252.7 million), capable of burning 2,000-2,600 tons of waste and generating 60 MW of electricity per day. About 365 million kWh of electricity will be supplied to the grid per year.
Waste-to-power generation is a strategic new business segment with attractive economic potential, promising to diversify revenue sources for Bamboo Capital in the future.

The Tam Sinh Nghia waste-to-power plant in Cu Chi district, Ho Chi Minh City will diversify revenue sources for Bamboo Capital. Photo courtesy of the group.
The domestic macro economy is recovering, while the world economy shows optimistic signs. In addition, the enforcement of the revised Land Law, the Plan for implementing the National Power Development Plan VIII (PDP VIII), and the newly issued Direct Power Purchase Agreement (DPPA) mechanism will support Bamboo Capital to complete its business plans in H2/2024.
In the stock market, BCG closed Wednesday at VND7,670 ($0.31) per share.
- Read More
Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout
Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.
Energy - Tue, September 16, 2025 | 1:44 pm GMT+7
Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers
Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.
Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7
Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister
Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.
Economy - Tue, September 16, 2025 | 9:36 am GMT+7
Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry
The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.
Finance - Tue, September 16, 2025 | 8:00 am GMT+7
E-commerce boom a major driver of Vietnam's packaging paper industry growth
Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.
Companies - Mon, September 15, 2025 | 10:20 pm GMT+7
Vietnam needs support from UK in developing international financial center: Deputy PM
Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).
Finance - Mon, September 15, 2025 | 10:12 pm GMT+7
Vietnam enforces 8% capital adequacy ratio for banks from Sept 15
Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.
Banking - Mon, September 15, 2025 | 10:04 pm GMT+7
Tool for wood traceability management debuts in Vietnam
The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.
Companies - Mon, September 15, 2025 | 10:00 pm GMT+7
Sun Group, US Embassy foster aviation-hospitality cooperation
Sun Group, in collaboration with the US Embassy in Vietnam, hosted the US – Vietnam Aviation Partnership Roundtable on September 12, bringing together 15 leading American corporations in aviation, technology, and financial services, opening up opportunities to position Phu Quoc as a new aviation and tourism hub in the region.
Companies - Mon, September 15, 2025 | 9:54 pm GMT+7
Vietnam tops Thai giant SCG’s overseas markets with 9% revenue contribution in H1
Vietnam remained the largest overseas market for Thailand’s Siam Cement Group (SCG) in the first half of 2025, contributing 9% of consolidated sales.
Companies - Mon, September 15, 2025 | 8:10 pm GMT+7
Central Vietnam to have new airport Mang Den
Procedures to adjust Vietnam's airport system planning, including the addition of Mang Den Airport in central Vietnam, are being proceeded, according to the Ministry of Construction.
Infrastructure - Mon, September 15, 2025 | 5:16 pm GMT+7
Vietnam's government seeks to position country as 'regulated hub for digital assets in Asia': Dragon Capital
The Vietnamese Government has advanced the regulation of digital assets, with a resolution launching a five-year pilot framework for issuance and trading. This framework signals the Government’s intent to position the country as a regulated hub for digital assets in Asia, which could attract new capital inflows, write Dragon Capital analysts.
Economy - Mon, September 15, 2025 | 2:20 pm GMT+7
Agribank introduces sizable $4.17 bln preferential credit package
Right from the beginning of 2025, Agribank launched a substantial preferential credit package worth VND110 trillion ($4.17 billion) to support individual customers.
Companies - Mon, September 15, 2025 | 1:32 pm GMT+7
'Precious space' in Vietnam's monetary policy
The Federal Reserve's continued cuts in 2025, with the most recent in September, are considered a valuable policy "space" for the State Bank of Vietnam (SBV) to maintain low interest rates to support growth without having to worry too much about exchange rates.
Economy - Mon, September 15, 2025 | 10:15 am GMT+7
Vietnam’s central bank sells $1.5 bln to stabilize currency: broker MBS
The State Bank of Vietnam (SBV) intervened in the foreign exchange market by selling approximately $1.5 billion via 180-day cancelable forward contracts from August 25-26, in an effort to ease pressure on the Vietnamese dong, according to a recent report by MB Securities (MBS).
Banking - Mon, September 15, 2025 | 8:04 am GMT+7
Hanoi aims to break ground on $11.4 bln Red River Boulevard & Landscape project by Jan 2026
A consortium of “tunnel king” Deo Ca Group and real estate developer Van Phu Invest has been assigned by the Hanoi People’s Committe to prepare an investment proposal for the VND300 trillion ($11.37 billion) Red River Boulevard & Landscape project.
Real Estate - Mon, September 15, 2025 | 7:55 am GMT+7