Vietnam's Petrosetco estimates 2025 net profit rises 46% to over $12 mln

PetroVietnam General Services Corporation (Petrosetco) expects its net profit to reach VD322 billion ($12.23 million) in 2025, up 46% year-on-year and exceeding the company's full-year target by 32%.

Speaking at the company’s 2025 review and 2026 outlook conference last Thursday, Petrosetco (HoSE: PET) general director Vu Tien Duong said consolidated revenue this year is estimated at VND20.6 trillion ($782.67 million), up 8% from 2024 and 1% above the full-year plan.

Pre-tax profit is forecast at VND402 billion ($15.27 million), up 42% year-on-year and 32% higher than the company’s full-year target.

Based on the estimates, Petrosetco recorded revenue of about VND5.78 trillion ($219.76 million) and net profit of VND74.5 billion ($2.83 million) in Q4, representing increases of 25.2% and 20.7%, respectively, from a year earlier.

Company executives said all four of Petrosetco’s business segments delivered positive results in 2025.

Distribution services, involving IT and telecommunications products, plastic polypropylene (PP), polyester fibers, liquefied petroleum gas (LPG), electrical appliances, remained the core business, accounting for around 82% of total revenue and more than 50% of pre-tax profit.

Other segments, including equipment supply, logistics, catering and real estate services, posted stable growth.

Earlier this month, Petrovietnam (PVN) completed the sale of its entire stake at Petrosetco, auctioning 24.9 million PET shares to six individual investors for VND900 billion ($34.19 million). Following the transaction, Petrosetco is no longer an enterprise having state ownership capital.

General director Duong said the post-divestment period presents significant challenges amid intensifying competition, requiring the company to further streamline operations, improve corporate governance, and strengthen the Petrosetco brand.

Representing Petrovietnam, Tran Hong Nam, a member of the group’s council of members, said the divestment was intended to create new momentum and enhance Petrosetco’s autonomy and competitiveness, adding that Petrovietnam would continue to work with Petrosetco as a long-term partner within the group's energy-industrial ecosystem.

Looking ahead, Petrosetco said 2026 will be a pivotal year following the state divestment and will also mark the company’s 30th anniversary. The company has set a revenue target of VND22.57 trillion ($857.34 million) and pre-tax profit of VND379 billion ($14.4 million) for next year.