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EVN cuts loss streak, reports after-tax profit of over VND 8,200 billion in 2024

Last May, EVN announced that the average retail electricity price increased from VND2,103.11 to VND2,204.07 per kWh (excluding VAT), equivalent to an increase of 4.8%.

VTC NewsVTC News28/07/2025

Vietnam Electricity Group (EVN) has just announced its audited consolidated financial statements for 2024, recording a profit after tax of VND 8,238 billion.

This is a better result than the loss of VND 26,772 billion in 2023 and the loss of VND 20,747 billion in 2022.

EVN cuts loss streak, reports after-tax profit of more than VND 8,200 billion in 2024 - 1

This latest result shows that EVN's total loss in 2022 and 2023 is 47,469 billion VND, while the profit of the previous 4 years 2018-2021 has not "borne" the loss. The profit of these 4 years is 45,744 billion VND, 1,725 billion VND lower.

After the 2024 results, with an additional profit of more than 8 trillion VND, the total profit for 5 years will exceed the loss of 2 years by about 6,513 billion VND.

EVN cuts loss streak, reports after-tax profit of more than VND 8,200 billion in 2024 - 2

In addition, EVN's financial report also shows that the group's revenue has grown continuously over the years, reaching VND 580,537 billion in 2024, an increase of 15.9% over the same period.

EVN's report shows that electricity sales accounted for the largest portion, reaching VND572,937 billion, equivalent to 98.7% of the total. The remaining revenues include product sales (such as electrical construction design, electrical construction, wiring, and electrical installation) of about VND3,951 billion, services (such as guesthouses, hotels, and pole rental) of about VND2,664 billion, and other revenues.

EVN cuts loss streak, reports after-tax profit of more than VND 8,200 billion in 2024 - 3

EVN's revenue will increase sharply by 15.9% in 2024, while the group's cost of goods sold will increase slightly by 8.9%, from VND487,678 billion in 2023 to VND530,949 billion in 2024.

EVN cuts loss streak, reports after-tax profit of more than VND 8,200 billion in 2024 - 4

Although it made a profit in 2024 and over many years, by the end of the year, EVN had an accumulated loss of about 38,688 billion VND.

The last time EVN increased electricity prices was in May this year. At that time, EVN announced that the average retail electricity price would increase from VND2,103.11 to VND2,204.07 per kWh (excluding VAT), equivalent to an increase of 4.8%.

According to the inspection results announced by the Ministry of Industry and Trade at the end of 2024, EVN's total production cost in 2023 was more than VND 528,600 billion. This level is equivalent to a production price of VND 2,088.9 per kWh, an increase of 2.79% compared to 2022.

This year, electricity demand is expected to increase by about 12.2%, equivalent to a total system output of 33.6 billion kWh compared to 2024.

(Source: CAFEF)

Link: https://cafef.vn/evn-cat-dut-mach-lo-bao-lai-sau-thue-hon-8200-ty-dong-nam-2024-van-lo-luy-ke-38688-ty-dong-188250728083125927.chn

Source: https://vtcnews.vn/evn-cat-dut-mach-lo-bao-lai-sau-thue-hon-8-200-ty-dong-nam-2024-ar956742.html


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