The most profitable companies on the Vietnamese stock exchange

The most profitable businesses in the first quarter of 2025 on the stock exchange

By May 1, most companies on the stock exchange had announced their financial reports for the first quarter of 2025. According to statistics, Vietnam Exhibition Fair Center Joint Stock Company (VEFAC) - the investor of Vinhomes Global Gate project - was the company with the highest profit in the first quarter of the year. This is the first time VEFAC has achieved this position. In previous quarters, state-owned banks such as Vietcombank, Vietinbank, BIDV or Vinhomes were the units with the highest profits.

VEFAC reported pre-tax profit of VND18,605 billion, 163 times higher than the first quarter of last year. The company made a large profit thanks to a sudden increase in revenue, 222,000 times higher than the same period last year, reaching VND44,560 billion. According to the explanation, in the last quarter, revenue grew strongly thanks to the transfer of part of the Vinhomes Global Gate project. The profit of this real estate company is many times higher than that of major banks such as MB, BIDV, Techcombank , Vietinbank...

This enterprise is a subsidiary of Vingroup Corporation with an ownership ratio of more than 85%. VEFAC is also the investor of the new urban area in Xuan Canh, Dong Hoi and Mai Lam communes, Dong Anh district (commercial name Vinhomes Global Gate). This project has a scale of more than 261 hectares, with a total investment capital of nearly VND 34,880 billion.

In March this year, VEFAC was approved by the Hanoi People's Committee to transfer 75 hectares of land for construction of high-rise and low-rise housing, mixed-use buildings and public land for business purposes at the Vinhomes Global Gate project to T&T New Era Company.

Vietcombank is the "runner-up in profit" in the first quarter of the year, rising from third place, and is also the bank with the largest profit. This bank has regained the top position in the industry after being surpassed by Vietinbank in the last quarter of 2024. Specifically, in the first quarter of 2025, Vietcombank brought in VND 10,860 billion in pre-tax profit, up 1% over the same period last year.

Meanwhile, VietinBank dropped from second place in the last quarter of last year to seventh place in the first quarter of this year with pre-tax profit reaching VND6,582 billion. 8 out of 10 companies with the highest profits in the first quarter of 2025 are banks.

In the first quarter of 2025, MB achieved the third position in terms of profit when reporting pre-tax profit of VND 8,386 billion, up 45%. This bank also rose to the second position in the industry for the first time, surpassing BIDV and Vietinbank.

HDBank and Techcombank also improved their positions in the profit rankings. Meanwhile, VPBank and ACB both dropped three places compared to the previous quarter, ranking 9th and 10th, respectively.

The remaining non-financial company in the list of 10 most profitable units in the first quarter of the year is Vingroup. This enterprise has risen from 7th place in the last quarter of last year to enter the top 5 in the first quarter of 2025.

In the first quarter of 2025, the group recorded a record revenue of VND84,053 billion, up 287% over the same period last year. Of which, the real estate segment was the main growth driver, accounting for 65% of total revenue. After deducting expenses, the company's pre-tax profit was VND7,381 billion, nearly 3 times higher than in the first quarter of 2024.

If we count the top 20 positions in terms of profit, only 8 non-financial companies are present, including VEFAC, Vingroup, ACV, Hoa Phat, Vinhomes, Vietnam Airlines, FPT, PV Gas. These are all familiar "faces" among the businesses with large annual profits.

Currently, some businesses have not announced their financial reports for the first quarter of 2025. However, MB Securities (MBS) has forecast that the whole market's profits could increase by 17% in the first quarter of this year. The securities company believes that businesses are supported by a low interest rate environment and continued recovery in consumer production.

Banks will be the group leading profits, with MBS forecasting a 15% growth thanks to credit that has started to accelerate since the beginning of the year. In fact, more than half of the units on the stock exchange have reported increased profits, including state-owned banks.

According to MBS, industries with outstanding profit growth in the first quarter of 2025 include real estate with an increase of 719%, industrial parks with an increase of 61%, and energy with an increase of 41%. Some industries estimated to have decreased profits include aviation with a decrease of 46% compared to the first quarter of last year due to these businesses' extraordinary profits, or oil and gas with a decrease of 27% due to the decline in oil prices compared to the same period.

For example, in the aviation group, in the first quarter of last year, Vietnam Airlines - the company with the largest profit in the industry reported a profit of more than 4,000 billion VND thanks to debt forgiveness. In the oil and gas industry, according to trading economics, the current price of Brent oil has decreased by more than 23% compared to the beginning of 2024, to more than 61 USD per barrel.

VN (according to VnExpress)

Source: https://baohaiduong.vn/nhung-doanh-nghiep-lai-nhat-san-chung-khoan-viet-nam-410692.html