Vietnam's pharma major Bidiphar achieves 60% of year's profit target after 6 months

Binh Dinh Pharmaceutical Medical Equipment JSC (Bidiphar) reported revenue of VND916 billion ($34.98 million) and pre-tax profit of VND202 billion ($7.71 million) in H1/2025, fulfilling 46% and 60% of the year's respective targets.

The figures represented year-on-year increases of 12% and 8.6% respectively, according to the company’s freshly released Q2/2025 financial statement.

The company’s net revenue in Q2 reached nearly VND475 billion ($18.14 million), up 9.7% from VND433 billion in the same period last year. With the cost of goods sold rising by only 5.5%, its gross profit jumped 13.6% to VND242 billion.

In terms of expenses, while general and administrative costs surged by 179% to VND58 billion ($2.2 million), financial expenses and selling expenses dropped to VND3.5 billion and VND82 billion respectively, down 22% and 18%.

As a result, the company's pre-tax profit in Q2 reached VND107 billion ($4.08 million), up more than 24%, and net profit came in at VND90 billion, a 25% year-on-year increase. This marks the sixth consecutive quarter of profit growth for Bidiphar.

The sustained growth is attributed to Bidiphar's business restructuring and focus on promoting self-manufactured pharmaceutical products. Additionally, its affiliated companies performed better than in the previous year’s same period.

On June 30, 2025, Bidiphar’s total assets stood at nearly VND2.4 trillion ($91.65 million), a 5% rise from the beginning of the year. Of this, current assets accounted for nearly VND1.6 trillion, up 6% year-on-year. Cash and cash equivalents amounted to VND514 billion, up 17%. Inventory was VND451 billion, down 11%.

Total liabilities rose 23% from the year outset to nearly VND743 billion ($28.37 million), primarily due to a 32% increase in short-term liabilities, reaching VND609 billion. Short-term borrowings were VND45 billion, up 25%.

Bidiphar was formerly the Binh Dinh Pharmaceutical and Medical Equipment Company, based in former Binh Dinh province (now Gia Lai province after administrative merger) in central Vietnam.

It transformed from a state-owned enterprise into a one-member limited liability company owned by the Binh Dinh provincial People’s Committee under Decision No. 264 dated June 23, 2010. It has listed its shares on the Ho Chi Minh Stock Exchange (HoSE) as DBD since May 2018.

The firm mainly operates in the pharmaceutical and medical equipment business. At the end of Q2/2025, its charter capital stood at nearly VND936 billion ($35.74 million). Its two major shareholders are Binh Dinh Development Investment Fund (13.34%) and Swiss fund KWE Beteiligungen AG (9.93%).

In the stock market, DBD closed Monday at VND56,300 ($2.15) per share.