BSR achieved revenue of nearly 32 trillion VND

Despite the unpredictable fluctuations in world oil prices, Binh Son Refining and Petrochemical Joint Stock Company (stock code: BSR) still recorded positive business results, thereby affirming the management capacity and ability to adapt to market fluctuations of one of the leading enterprises in the Vietnamese petrochemical refining industry.

On April 30, BSR leaders said that the unit's net revenue in the first 3 months of the year reached VND31,863 billion, a slight increase over the same period. Although after-tax profit reached VND395 billion, down compared to the first quarter of 2024, this result is still a positive signal in the context of the global energy market being affected by the double impact of geopolitical instability and production adjustments of OPEC+ countries.

While the cost of goods sold increased, BSR still maintained net operating profit at VND456 billion, thanks to flexible control of financial costs and effective operations. Specifically, the company's financial costs decreased sharply by nearly 45% compared to the same period, down to VND102.8 billion, showing efforts in optimizing capital structure and effectively using funding sources. In particular, BSR still owned the amount of cash at the end of the period at VND25,644 billion, ensuring liquidity and resilience to market shocks.

BSR General Director Nguyen Viet Thang commented that in 2025, the world oil and gas market will continue to experience many unpredictable fluctuations, from fluctuations in oil prices, commodities, exchange rates to policy factors related to emissions, carbon credits, and technological innovation requirements. In that context, BSR aims for 2025 to be a pivotal year for breakthroughs in investment and science and technology activities, coupled with a strategy of innovation and digital transformation to elevate the business.

BSR officers and engineers are monitoring and directing production operations.

According to the new development orientation, the unit focuses on three strategic pillars such as diversifying input materials to maintain high capacity, expanding market share and consumption market, and improving management capacity. Regarding raw materials, the enterprise not only optimizes traditional crude oil sources but also actively researches and expands the use of intermediate components and materials such as VGO, Condensate, LCO, T-DAO, Naphtha, Aromatic, Reformat, Residue, etc. to increase flexibility in processing and meet market demand more effectively.

On the market side, BSR promotes the development of a diversified product supply chain, exploits existing competitive advantages and strengthens cooperation within the industry to consolidate its position in the petrochemical industry value chain. In particular, risk management is identified as a strategic priority in the context of an increasingly complex market.

The unit is continuously improving its risk management system and procedures, from early risk identification to assessment and implementation of effective control solutions, digitizing risk management. The goal is to both protect business operations and ensure the stable and effective implementation of plans and goals for 2025.

“With a solid financial foundation, proactive management capacity and a methodical development strategy, BSR is showing its readiness to enter a new development phase, with many expectations and potential for breakthroughs in 2025 and the following years,” BSR leaders emphasized.

Source: https://nhandan.vn/bsr-dat-doanh-thu-gan-32-nghin-ty-dong-post876537.html