Golden Gate targets 200% profit hike as restaurant operator accelerates expansion

Vietnamese restaurant operator Golden Gate Group is targeting record revenue and a sharp rebound in profit in 2026 as the company accelerates expansion across its dining and beverage chains, including efforts to revive coffee brand The Coffee House.

According to documents released ahead of its AGM scheduled for June 29, Golden Gate aims to generate net revenue of VND9.81 trillion ($372.69 million) in 2026, up 28% from 2025. If achieved, the revenue target would mark the highest in Golden Gate’s history.

The company targets after-tax profit of VND466 billion ($17.47 million), more than double last year.

Golden Gate said its strategy for 2026 will focus on expanding operations, strengthening its operating platform, enhancing customer experience, and upgrading store formats.

The company also plans to continue improving operations at The Coffee House chain as competition intensifies in Vietnam’s fast-growing cafe market.

Alongside its growth plans, the board is seeking shareholder approval for a multi-stage employee stock ownership plan (ESOP) designed to retain key personnel and attract talent.

Under the first phase, Golden Gate plans to issue 17,950 ESOP shares at VND10,000 ($0.38) per share to key employees involved in major projects and strategic operations at the parent company and subsidiaries.

The shares will be subject to a transfer restriction period of 15 months after issuance or until a liquidity event occurs.

The second phase would include issuance of 77,387 ESOP shares, comprising 51,883 newly issued shares and 25,504 treasury shares, expected to be carried out in 2026 or 2027. A third ESOP phase will depend on the company’s EBITDA performance in 2027.

If EBITDA reaches at least VND1.5 trillion ($56.96 million), Golden Gate would be allowed to issue shares equivalent to 2% of its current charter capital, including the first two ESOP phases. If EBITDA reaches VND1.7 trillion ($64.56 million) or above, the issuance cap would rise to 3%.

Golden Gate also plans extraordinary large stock dividend distribution. The company intends to issue more than 93.4 million shares as a dividend payout at a ratio of 1:12, meaning shareholders owning one existing share would receive 12 additional shares.

Following the issuance, Golden Gate’s charter capital is expected to exceed VND1.01 trillion ($38.35 million). Funding for the share issuance will come from retained earnings based on the latest audited consolidated financial statements.

The company plans to pay a cash dividend for 2026 at a rate of 82%, equivalent to VND8,200 ($0.31) per share.

Golden Gate said total dividend payments would be capped at 30% of 2025 net profit, with the board authorized to adjust the payout ratio if the number of outstanding shares changes due to future issuances or stock-related corporate actions.

Golden Gate is one of Vietnam’s largest restaurant groups, operating a portfolio of hotpot, barbecue, and casual dining brands across the country. According to its website, the firm now owns 40 F&B brands across over 500 outlets.