Profit from core business tripled, GELEX achieved 72% of the year plan after 6 months

(Dan Tri) - GELEX Group (GEX) has just announced its second quarter business results, with a record high profit of VND 1,553 billion, affirming the business's operational efficiency, long-term strategic vision and growth potential in the future.

GELEX 's strong growth momentum in the second quarter came from the synchronization and efficiency of key business sectors, the recovery of the economy, along with the accelerated public investment projects, which created favorable conditions for the company's production and business activities to make a strong breakthrough. As a result, GELEX recorded VND 10,131 billion in consolidated net revenue in the second quarter, an increase of 22.8% over the same period.

The growth momentum comes from the positive contribution of the electrical equipment sector when it earned VND 6,518 billion, up 24.8%, accounting for 64.3% of total revenue. According to the report, units under the GELEX Electric group such as CADIVI, EMIC, THIBIDI, CFT... have flexibly applied sales policies according to the market context; enhanced optimal and synchronous solutions in management, operation and production, contributing to improving efficiency, optimizing costs and improving competitiveness.

The remaining business segments of GELEX all operated quite effectively. Net revenue from industrial parks and real estate reached VND1,110 billion, up 39.4%; the construction materials sector also performed better, reaching VND2,149 billion, up 11.1%; the infrastructure and utilities sector also continued to grow, recording VND343 billion, up 17.5%.

According to recently released figures, GELEX's gross profit reached VND2,334 billion, up 56.1% over the same period last year, bringing the gross profit margin to 23%, a clear improvement compared to 18.1% in the same period, reflecting improved business efficiency in core segments.

The report also showed that GELEX's pre-tax profit was VND1,553 billion, up 12.3% over the same period. The record profit shows that the company had a particularly effective quarter with outstanding revenue growth and good control of operating costs.

In the first 6 months of 2025, GELEX achieved consolidated net revenue of VND 18,047 billion, pre-tax profit of VND 2,198 billion, up 21.1% and 24.3% respectively over the same period last year.

Excluding the profit from transferring renewable energy projects to partner Sembcorp in the first 6 months of 2024, GELEX's pre-tax profit of core businesses in the first 6 months of this year increased nearly 3 times over the same period.

Mr. Le Tuan Anh, Deputy General Director of GELEX Group said: "The fact that profits from core business segments increased nearly 3 times is not only a testament to the continuous efforts of the entire GELEX team but also shows the Group's correct development strategy. We have focused on improving operational efficiency, optimizing costs and taking full advantage of market opportunities."

With this result, at the end of the second quarter, GELEX completed 48% of the revenue plan and 72% of the pre-tax profit target for the year.

As of June 30, GELEX's total consolidated assets reached VND59,261 billion, up 10.2% compared to the beginning of the year. Of which, short-term assets increased by 16.4%, mainly due to expanding short-term financial investments to take advantage of market opportunities and increasing inventories and receivables to serve core production and business activities.

Regarding financial indicators, the enterprise maintains the debt ratio and debt-to-equity ratio at a stable and safe level. The liquidity index and the ability to repay principal and interest have improved and are all higher than the standard threshold.

A report by Japan Securities released on June 18 exclusively for Japan Security clients expressed the view that GELEX is demonstrating its suitability to the growing trend from global investors and consumers towards ESG-compliant businesses. In addition, the securities company also believes in GELEX's growth potential, driven by a diversified product portfolio, a strategy to expand into new markets, and a proactive and flexible approach in adapting to changes in the business environment.

In addition to outstanding business results, GELEX is also actively implementing many strategic activities to consolidate its leading position and expand its future potential. GELEX invests in research and development of high-tech, environmentally friendly products to meet the increasingly diverse needs of domestic and international markets. The Group is also stepping up trade promotion activities and expanding export market share.

Currently, GELEX's international cooperation strategy is also being promoted. Strengthening cooperation with strategic partners who are global corporations not only helps GELEX access advanced technology but also attracts high-quality investment capital, creating momentum for large-scale projects.

In June, GELEX accessed quality international capital flows from major banks with an unsecured loan of USD 79 million, providing additional important resources for strategic projects.

In addition, GELEX focuses on internal strength strengthening activities such as implementing a risk management framework, digital transformation and recreating corporate culture towards a high-performance and fast-adapting organization.

Source: https://dantri.com.vn/kinh-doanh/lai-tu-kinh-doanh-cot-loi-tang-gap-3-gelex-dat-72-ke-hoach-nam-sau-6-thang-20250725183937014.htm