2025: Highest revenue in history, growth drivers reshaped.
2025 marks the 35th anniversary of PV GAS's "Igniting the Nation's Flame" journey, while also comprehensively fulfilling all planned targets assigned by the General Shareholders' Meeting, setting many impressive record milestones: Consolidated revenue reached nearly VND 137 trillion, achieving 185% of the annual plan, a 30% increase compared to 2024, contributing 1.1% to Vietnam's GDP. Pre-tax profit reached nearly VND 14.4 trillion, achieving 216% of the plan, a 9% increase compared to 2024. After- tax profit reached VND 11.6 trillion, reaching 218% of the annual plan and a 9% growth compared to 2024. Contributions to the state budget reached over VND 7.5 trillion, achieving 213% of the plan.
Financial indicators remain high, and Fitch Ratings continues to assign an international credit rating of “BB+” on November 24, 2025, reflecting operational efficiency and sustainable profitability, in the context of the gas industry simultaneously facing the natural decline of domestic gas resources, energy price volatility, and increasing competitive pressure.
With these results, PV GAS continues to affirm its leading position in the gas industry, providing a stable fuel source for the production of 6.3% of the national electricity output and 70% of urea production. PV GAS also supplies LPG to meet 70% of domestic demand and that of neighboring Cambodia.
Alongside its production and business activities, PV GAS is also aggressively implementing infrastructure investment and construction in 2025, with the parent company's total disbursement exceeding 3 trillion VND. Notably, the People's Committee of Ha Tinh province and the Hai Phong City Party Committee have approved the investment plan and investor for PV GAS's LNG storage facility project in the North Central region (Vung Ang LNG storage facility) and the PV GAS Hai Phong port and storage facility project, opening up new development opportunities for the company in the northern region.
Mr. Pham Van Phong, Member of the Board of Directors and General Director of PV GAS, stated that the positive results in 2025 stem from three fundamental shifts.
Firstly, PV GAS is shifting from a gas distribution business model to an integrated gas energy business, expanding deeper into the entire gas and LNG value chain.
Secondly, PV GAS accelerated its business operations and international trade. This business segment currently contributes more than 56% of total revenue. Specifically, the liquefied petroleum gas (LPG/LNG) sales volume exceeded 5 million tons, reaching 266% of the plan and growing by 65% compared to 2024; of which, international trade contributed more than 3.3 million tons (a remarkable growth of 129%), achieving the target set by Petrovietnam for its member units by 2030 many years ahead of schedule.
Thirdly, PV GAS is accelerating its restructuring towards a leaner structure, improving governance efficiency, controlling costs, and resolving long-standing issues.
Notably, the change in the PM3 - Ca Mau gas business model in the Southwest region is seen as a strategic step to integrate the value chain from upstream to downstream, optimizing the efficiency of the entire gas ecosystem.
Alongside short-term growth, PV GAS is developing a long-term strategy with the goal of becoming one of the top 30 largest companies in Southeast Asia (Top 30 Fortune Southeast Asia) by 2030, while maintaining its pioneering and leading role in Vietnam's gas industry.
2026: Maintaining growth momentum in the new energy cycle
Entering 2026, PV GAS plans for consolidated revenue of approximately 142 trillion VND and pre-tax profit of 11.2 trillion VND, contributing 4.5 trillion VND to the state budget.
In the first quarter of 2026, PV GAS's production, business, and investment activities showed positive developments, exceeding the set plan. Specifically, consolidated revenue is estimated at VND 38,420 billion, equivalent to 147% compared to the same period last year. Consolidated pre-tax profit reached VND 3,755 billion, equivalent to 110% compared to the same period. Thus, in terms of revenue and profit in the first quarter of 2026, PV GAS has completed 27-33% of its full-year plan.
Mr. Nguyen Thanh Binh, Secretary of the Party Committee and Chairman of the Board of Directors of PV GAS, stated that in 2026, amidst continued global volatility and increasing risks, PV GAS is determined to continue accelerating innovation; promote the development of gas industry infrastructure; expand international markets and trade; promote digital transformation, innovation, and increase the technological content in all production and business activities; and manage and operate according to advanced principles and standards.
Over the next five years, especially in the pivotal year of 2026, PV GAS will vigorously implement a strategy centered on production operations, with investment as the foundation and business expansion into the international market as the driving force. This will enable PV GAS to proactively and comprehensively participate in the entire closed-loop gas and LNG value chain, from upstream, midstream, and especially downstream.
With the motto "Innovation - Breakthrough - Adaptation - Competition" and the consistent application of "Integrated Thinking" and "Out-of-Convention, Non-Traditional Thinking," this serves as a guiding principle for PV GAS to think deeply, decide quickly, and act on a grand scale, with the aspiration to achieve the assigned goals on the journey of jointly "Preserving the Heritage, Building National Energy" with Petrovietnam and enhancing competitiveness in the regional energy supply chain.
Shareholders have confidence in PV GAS's LNG development strategy, infrastructure investment, and governance directions.
At the general meeting, many shareholders highly appreciated PV GAS's adaptability and operational efficiency in the context of a global energy market that continues to be affected by geopolitical tensions, especially in the Middle East.
The issues of interest to shareholders focused on three main groups: (i) PV GAS's ability to sustain long-term growth through its LNG development strategy, new gas source development, and expansion of the energy value chain; (ii) the progress and investment efficiency of key projects such as Block B - O Mon, Son My LNG, the North Central LNG terminal project, the PV GAS Hai Phong terminal project, and the capacity upgrade of the Thi Vai LNG terminal; (iii) operational efficiency and adaptability to market fluctuations, including cash flow management, debt, oil price fluctuations, interest rates, exchange rates, and increasing competitive pressure in the LNG sector.
In addition, PV GAS leaders directly discussed and clarified issues of concern to shareholders and investors, while also updating the corporation's development orientation for 2026 and the coming period. Accordingly, PV GAS will continue to expand its LNG infrastructure, promote strategic projects, proactively ensure energy supply, improve governance efficiency, and gradually develop new energy sectors to create a foundation for long-term sustainable growth.
PV GAS leaders affirmed that, in the short, medium, and long term, PV GAS has solutions to ensure stable and developing production and business operations in each period, thereby bringing sustainable and long-term benefits to shareholders.
As the parent company and major shareholder of PV GAS, Petrovietnam highly appreciates PV GAS's contribution to the group's overall results, accounting for approximately 20% of the group's revenue and about 23% of its total profit.
Petrovietnam believes that PV GAS's growth potential will continue to be strengthened based on core foundations such as: infrastructure development, market development, long-term strategic planning and restructuring, policy mechanisms, and improved governance and management efficiency.
With gas and LNG increasingly recognized as crucial transitional energy sources for the region, PV GAS possesses significant advantages to expand its scale and enhance its position in the Southeast Asian regional energy chain, making a positive contribution to Petrovietnam's goal of being among the Fortune Global 500 companies by 2030.
PV GAS plans to pay a 25% dividend in 2025 and streamline its management structure.
The General Meeting approved all proposals with a high percentage of consensus, including the plan to distribute cash dividends for 2025 at a rate of 25%, equivalent to approximately VND 6,032 billion.
Regarding personnel matters, the General Meeting of Shareholders approved the dismissal of Mr. Trieu Quoc Tuan and Mr. Nguyen Thanh Hao from their positions as Board Members, the dismissal of Mr. Nguyen Cong Minh from his position as Auditor, and the election of two additional Board Members, Mr. Nguyen Huy Hoang and Mr. Nguyen Ngoc Hieu, and the re-election of Mr. Do Minh Duong and Ms. Nguyen Thi Kim Yen as Auditors of PV GAS.
The General Meeting of Shareholders also approved the adjustment and addition of business lines to align with PV GAS's production and business activities, along with other reports and proposals presented at the meeting.
With a strong financial foundation, a well-invested infrastructure system, a clear long-term development strategy, and a highly skilled and resilient workforce, PV GAS is entering a new growth phase, continuing to maintain its leading and pioneering role in Vietnam's gas industry and gradually elevating its position on the regional energy map. In line with this growth prospect, the "GAS" stock continues to affirm its position among the leading stocks on the Vietnamese stock market.
Source: https://hanoimoi.vn/dai-hoi-dong-co-dong-nam-2026-pv-gas-lap-ky-luc-doanh-thu-tuong-duong-1-1-gdp-ca-nuoc-san-sang-buoc-vao-chu-ky-tang-truong-moi-802281.html
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