Vinhomes tops list of firms with trillion Vietnamese dong plus in Q2 profits

Vietnam’s biggest listed property firm, Vinhomes JSC, led the list of top 10 companies with Q2 after-tax profits of more than a trillion dong (VND1 trillion = $42 million).

Vinhomes recorded Q2 net revenues of VND32.83 trillion ($1.38 billion) and post-tax profits of VND9.71 trillion ($408.7 million), up 7.3 times and nearly 13 times year-on-year, respectively.

In the first six months of the year, Vinhomes's consolidated net revenue reached VND62.1 trillion ($2.6 billion), up 4.6 times year-on-year; and after-tax profit hit VND21.64 trillion ($910.4 million), up 4 times year-on-year, fulfilling 72% of the year plan.

Petrovietnam's subsidiary PV Gas (GAS) ranked second on the list with Q2 after-tax profits of VND3.2 trillion ($134.5 million), down 38% year-on-year.

In the first half of the year, PV Gas recorded net revenues of VND45.26 trillion ($1.9 billion) and after-tax profits of VND6.61 trillion ($278.3 million), down 17% and 23% year-on-year, respectively, but topped its year plan by 1.1%.

Vietnam’s largest dairy firm Vinamilk came third with Q2 after-tax profits of VND2.23 trillion ($93.7 million), up 6% year-on-year.

In the first six months of the year, the firm earned total revenues of more than VND29.15 trillion ($1.23 billion) and post-tax profits of over VND4.1 trillion ($173.25 million), fulfilling 46% and 48% of its year targets, respectively.

Vietnam’s leading IT company FPT Corporation took fourth place with net revenues of VND12.48 trillion ($525.3 million) and after-tax profits of VND1.86 trillion ($78 million) in Q2, up 23.7% and 19%, year-on-year, respectively.

In the first half of 2023, FPT earned net revenues of VND24.17 trillion ($1.02 billion) and pre-tax profits of VND3.67 trillion ($154.2 million), fulfilling 46% and 48% of its year targets, respectively.

Meanwhile, Gemadept, a leading port operator and logistics firm in Vietnam, reported Q2 after-tax profits of VND1.71 trillion ($72.3 million), a record high.

In the first six months, Gemadept posted total revenues of VND3.7 trillion ($156.2 million) and after-tax profits of VND1.97 trillion ($82.9 million), up 98% and 3 times year-on-year, respectively.

Masan Consumer Holdings, one of Vietnam's leading F&B companies, earned Q2 after-tax profits of VND1.66 trillion ($69.8 million), up 55.6% year-on-year.

In the year’s first half, Masan recorded after-tax profits of VND3.05 trillion ($128.2 million), up 35% year-on-year.

Vietnam's largest steelmaker Hoa Phat also recorded good Q2 business results with after-tax profits of VND1.45 trillion ($60.9 million), up 3.78 times year-on-year.

In the first six months of 2023, Hoa Phat reported net revenues of VND56.67 trillion ($2.38 billion) and after-tax profits of over VND1.83 trillion ($77 million), down 30% and 85% respectively.

Another listed firm, Binh Son Refining and Petrochemical JSC, operator of Vietnam's first oil refinery Dung Quat, posted Q2 after-tax profits of nearly VND1.33 trillion ($55.7 million), down 87% year-on-year.

In the first six months of the year, the company recorded net revenues of VND67.74 trillion ($2.85 billion) and after-tax profits of VND2.95 trillion ($124 million), down 22% and down 76% year-on-year, respectively.

The other two companies that made up the top 10 list were Vietnam's top shopping mall operator Vincom Retail and Vietnam’s leading beer maker Sabeco, who came in ninth and tenth, respectively.

Vincom Retail earned Q2 net revenues of VND2.17 trillion ($91.4 million) and after-tax profits of over VND1 trillion ($42.1 million), up 17% and up 29% respectively.

In the first half of the year, the company reported net revenues of VND4.12 trillion ($173.2 million) and after-tax profits of VND2.03 trillion ($85.2 million), up 28% and 76%, respectively.

Sabeco reported Q2 net revenues of VND8.31 trillion ($349.8 million) and after-tax profits of VND1.21 trillion ($50.9 million), down 8% and down 32% respectively.

In the first six months of the year, the brewer posted net revenues of VND14.53 trillion ($611.2 million) and after-tax profits of VND2.21 trillion ($93.2 million), down 11% and 27% year-on-year, respectively.