Surprising list of corporations earning over 100,000 billion since the beginning of the year

Business results for the first nine months of 2025 show that the recovery momentum is spreading across many key industries, from banking, steel to retail.

Amidst the complicated fluctuations of the world economy , the business results of listed enterprises in the first 9 months of the year show clear signs of recovery of the Vietnamese economy. The revenue and profit of many large corporations have improved simultaneously, reflecting the better resilience of the domestic business sector in the face of unpredictable fluctuations in the world.

Data compiled from financial reports shows that the picture of listed corporate profits is brighter than in the same period in 2024, especially among leading corporations in key sectors such as oil and gas, steel, retail, energy and real estate. Some “big guys” have not only regained revenue growth momentum but also recorded a marked improvement in profit margins.

Leading enterprises regain growth momentum

Statistics show that in the group of non-financial enterprises, there are up to 10 enterprises recording net revenue of over 50,000 billion VND after 9 months. Leading the way is Vietnam National Petroleum Group - Petrolimex (HoSE: PLX) with net revenue of over 228,000 billion VND, up 7% over the same period last year.

Coming in at number 2 is Vingroup (HoSE: VIC) with revenue of over VND169,500 billion, up 34%. Notably, another member of the Vingroup ecosystem, Vinhomes (HoSE: VHM), is also in the top 10 with net revenue of over VND51,100 billion after 9 months, reflecting the recovery of the residential real estate market this year.

In addition to the two companies in the Vingroup ecosystem, the list of companies with revenue exceeding VND100,000 billion also includes Hoa Phat Group (HoSE: HPG) with VND119,900 billion; Binh Son Refining and Petrochemical (HoSE: BSR) with VND104,000 billion; and Mobile World (HoSE: MWG) with VND113,600 billion. These companies represent the pillars of the economy, from steel production, energy to retail.

The structure of the top 10 non-financial enterprises with the largest revenue also shows a diverse economic picture with 3 oil and gas enterprises (Petrolimex, PV Gas and Binh Son Refining and Petrochemical), 2 real estate enterprises (Vingroup, Vinhomes), 2 aviation enterprises (Vietnam Airlines, Vietjet), 2 retail - distribution enterprises (Mobile World, Masan) and one material production enterprise (Hoa Phat).

Not only have they recorded revenue growth, many businesses have also shown a marked improvement in profitability since the beginning of this year. In the past 9 months, up to 17 businesses have achieved pre-tax profits of over VND10,000 billion.

The banking sector continues to affirm its role as the “backbone” of the economy, occupying 7 positions in the top 10. The remaining three enterprises are all part of billionaire Pham Nhat Vuong’s ecosystem, including Vingroup, Vinhomes and Vietnam Exhibition Fair Center Joint Stock Company - VEFAC (UPCoM: VEF).

Of which, Vingroup achieved pre-tax profit of nearly 15,200 billion VND, ranking 10th in the whole market. Vinhomes ranked right above with pre-tax profit of 18,300 billion VND, while VEFAC attracted attention when recording a profit of nearly 19,300 billion VND after 9 months, ranking 7th.

In the banking group, Vietcombank continues to be "alone" at the top of profits with pre-tax profit of 33,123 billion VND after 9 months, up 5% over the same period. VietinBank recorded an impressive leap with an increase of 51%, reaching 29,535 billion VND in pre-tax profit. In the third quarter alone, the bank's pre-tax profit reached 6,552 billion VND, up 62%.

VPBank is also a bright spot with pre-tax profit reaching VND20,396 billion after 9 months of this year, up 47%.

Besides, other large banks such as BIDV, MB, Techcombank and ACB continue to maintain their position in the leading group in terms of profit results, contributing to the picture of even growth in the whole industry.

Many "big guys" make spectacular breakthroughs

In terms of growth rate, the profit picture of listed enterprises in the first 9 months of 2025 shows clear differentiation, but there is no shortage of names that create spectacular breakthroughs.

Leading the entire market is VEFAC with profit growth of over 5,700% compared to the same period last year, mostly coming from the transfer of part of the Vinhomes Global Gate project from the first quarter.

Besides VEFAC, there are 4 other enterprises that also achieved profit growth exceeding 1,000%, including Phu Hung Securities (+4,433%), Nhon Trach 2 Thermal Power (+4,403%), Navico (+1,225%), and Hoang Huy Service Investment (+1,072%). These are all rare cases where profit margins expanded strongly thanks to improved revenue and a significant decrease in input costs.

By industry, the top 10 enterprises with the highest growth in pre-tax profits in the Vietnamese market include 3 real estate enterprises (VEFAC, Hodico, Saigontel), 2 securities companies (Phu Hung, LPBS), 2 seafood enterprises (Navico and Caseamex), one electricity enterprise (NT2), one bank (ABBank) and one enterprise operating in multiple fields in the automobile - real estate sector (Hoang Huy).

In the group of large-scale enterprises (pre-tax profit of over VND 1,000 billion), Gelex Electric (HoSE: GEE) emerged with pre-tax profit of over VND 3,500 billion after 9 months, an increase of 162% over the same period.

Gelex Electric's parent company - Gelex Group (HoSE: GEX) - also recorded positive results when pre-tax profit increased by 52% to more than VND3,400 billion. The synchronous growth between the parent company and its subsidiaries is strengthening the position of the Gelex ecosystem in the industrial and power infrastructure sector in Vietnam.

Coming in second in terms of profit growth is the Vietnam Rubber Industry Group (HoSE: GVR) with a 94% increase. The group said its profits increased sharply thanks to stable rubber latex prices, along with positive contributions from its industrial park segment.

Notably, Viettel Global (UPCoM: VGI) is the only enterprise with a profit of over VND10,000 billion in the top 10 highest growth. In the first 9 months of this year, the unit in charge of investment and business abroad of Viettel Group achieved a profit of over VND10,500 billion, up 74%. In the third quarter alone, Viettel Global's profit was 4 times higher than the same period last year to VND5,268 billion, setting a new record for quarterly profit since its establishment.

In the retail group, The Gioi Di Dong of Chairman Nguyen Duc Tai recorded pre-tax profit of more than 6,100 billion VND after 9 months, up 62%. This is a positive result after the restructuring phase of Bach Hoa Xanh and optimizing the operation of the chain of phone and electronics stores.

Meanwhile, Masan Group (HoSE: MSN) of billionaire Nguyen Dang Quoc continued to show resilience from its core businesses despite a slight 3% decrease in revenue. The group's pre-tax profit increased by 55% to over VND5,200 billion, mainly thanks to improved profit margins at WinCommerce, Masan MeatLife and Phuc Long, along with positive contributions from Techcombank and the divestment of HC Starck (HCS).

Although Masan Consumer (MCH) is in the process of perfecting a new distribution model and financial costs have increased slightly, overall efficiency has still improved significantly.

(Source: Zing News)

Link: https://znews.vn/doanh-nghiep-thu-tren-100000-ty-dong-post1600942.html

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