Listed corporate profits highest since 2018

SSI's report said that, based on 2025 plan statistics of 104 large listed enterprises (accounting for about 70% of market capitalization), total planned revenue in 2025 increased by about 13.6% compared to actual revenue in 2024.

In terms of profit, the proportion of businesses planning to increase profits compared to 2024 accounts for 67%, with total planned profit increasing by 13.3%.

Of which, the private enterprise group is quite optimistic with the total planned profit increasing by 22.4% over the same period. The State-owned enterprise group tends to set a more cautious plan as usual in the past, with the total planned profit set to decrease by 21.4% compared to the 2024 implementation, but still increase by 20-100% compared to the 2024 plan.

By industry group, the industries that the Board of Directors expects to see profit growth in 2025 are those that focus on the domestic market and are supported by policies such as Real Estate, Banking, Non-essential consumption, Information Technology, Basic Resources, Construction and Building Materials.

Most businesses had their plans made before the US announced its reciprocal tax policy for other countries, including Vietnam. However, not many businesses have adjusted their business plans to date.

Compiling business results for the first quarter of 2025, SSI said that after-tax profit attributable to shareholders of the parent company in the whole market continued to grow well in the first quarter of 2025 with an increase of 23% over the same period and 6% over the previous quarter.

This is the 6th consecutive quarter of positive profit growth, bringing the profit level to the highest level since 2018, at 146.6 trillion VND for the whole market. The overall recovery rate has slightly decreased compared to the fourth quarter of 2024 due to the gradually higher comparison base of the same period and changes in industry business results.

Source: SSI Research, based on 989 listed companies (representing 97% of market capitalization) that have announced their Q1/2025 business results

In particular, the real estate industry led the overall profit growth of the whole market with the industry's profit growth reaching 139% over the same period, contributing 63%. Notable among them were Vingroup stocks such as Vingroup, Vinhomes, VEFAC , Vincom Retail with total profit increasing by 157% over the same period. Some fairly good real estate businesses also achieved high growth such as BCM, KDH, KBC or NLG, turning to profit compared to the loss in the same period last year.

Banking is still the industry that contributes the most profit, accounting for about 45% of total market profit.

However, the growth rate has slowed down compared to Q4/2024, reaching 14% over the same period. Credit growth at companies analyzed by SSI was relatively positive, reaching 3.4% compared to the beginning of the year in Q1. NIM continued to be under pressure amid fierce competition as banks maintained attractive lending rates to retain customers. In addition, asset quality declined with the bad debt ratio increasing to 2.02%, partly due to seasonal factors.

In addition, some other industry groups also recorded strong growth such as utilities (up 44.5% over the same period), chemicals (up 41%) and retail (up 74%). Meanwhile, some industry groups witnessed declines such as telecommunications (down 47%) and oil and gas (down 58%).

Source: https://baodautu.vn/mat-bang-loi-nhuan-doanh-nghiep-niem-yet-cao-nhat-ke-tu-nam-2018-d280319.html