PTSC maintains stable production and business activities in the first 5 months of 2025

In the first 5 months of 2025, PTSC (stock code PVS) continued to maintain stable and safe performance in most of its main service areas. This enterprise also affirmed that it is continuing to make efforts, wholeheartedly aiming for professionalism, transparency, efficiency, and commitment to always be recognized as one of the best listed units. In the face of recent information and the "buzz" effect from articles, social networks with comments, analysis, forecasts, assessments, and headlines that show signs of exaggeration, PTSC believes that investors and readers need to calmly refer to accurate information from Financial Reports and official information from listed enterprises. According to the report on production and business activities, in the first 5 months of 2025, the consolidated revenue of the entire PTSC system up to the end of May 2025 is estimated to reach more than 10 trillion VND, equivalent to 45% of the 2025 plan. Pre-tax profit in the first 5 months of the year is estimated at more than 600 billion VND, reaching 61.4% of the yearly plan.

Ship, FSO/FPSO, Port services maintain stable performance

Contributing to the overall picture, the service segments which are considered as “core business” of PTSC are currently maintaining stable performance. Specifically, the Specialized Vessel Supply service has reached 57.7% of the annual plan with revenue of 865 billion VND. PTSC service fleet is still operating stably in many domestic and foreign oil and gas exploitation areas. In addition, with a series of floating warehouses - strategic facilities that PTSC has invested in and put into operation for many years - such as FSO PTSC Bien Dong 01, FPSO PTSC Lam Son, FPSO Ruby II, FSO Golden Star, FSO Orkid, FSO PPS 01..., the service of providing, managing, operating, and exploiting FSO/FPSO vessels has also exceeded 1,000 billion VND in the first 5 months of 2025. The port system and logistics services, port base services of PTSC such as leasing warehouses, yards, offices, receiving ships arriving and departing from ports... brought in revenue of 671 billion VND by the end of May 2025, reaching 33.6% of the yearly plan. Service contracts at PTSC's ports continue to remain stable.
EPC services and manufacturing of industrial and energy projects account for more than 60% of PTSC's total revenue structure in the first 5 months of the year.

Despite the volatile global energy market, PTSC's Service Group continues to dominate the market in three segments: Oil and Gas EPC, Offshore Renewable Energy EPC and Onshore Industrial Construction EPC, recording an estimated revenue of over VND 6,100 billion. This figure also reflects the overwhelming proportion in the total revenue structure of PTSC when EPC services and manufacturing of energy and industrial constructions reach over 60%. In particular, PTSC's hottest field today is offshore renewable energy services (NLTTNK), which is operating effectively with many consecutive projects. In particular, the first major project in this segment, the CHW2204 Project, is about to reach the finish line and has been awarded the "Technical Completion" certificate for all 33 offshore renewable energy jackets by the Investor Ørsted in April 2025. In addition, PTSC is also continuing to safely and effectively implement, ensuring the quality and progress of the Hai Long OSS, Baltica 02, Feng Miao Offshore Windfarm, Lot B, Lac Da Vang Projects... At the same time, the EPC service group for industrial works is also being implemented safely and effectively on schedule with projects such as the Aircraft Fuel Supply System - Long Thanh International Airport, STG#3 Project STG3 Steam Turbine Generator Set for Nghi Son LHD Plant, EPC Project for Ethane Tank Construction at Long Son Petrochemical Complex (Long Son LSPET).

EPC services and manufacturing of industrial and energy projects account for more than 60% of PTSC's total revenue structure in the first 5 months of the year.

  Regarding the information in some online newspapers about the "huge amount of work" to be undertaken in the coming years, PTSC affirms that the information in recent days is not really accurate and up to now, PTSC can only estimate and forecast but cannot give a specific number. Only certain information about existing, completed and ongoing projects can be calculated and estimated. For other bidding packages and projects that have not been implemented or are in uncertain stages, PTSC is still closely following investors and potential customers at home and abroad to be able to expand market share, maximize the value of work for PTSC, its member units and employees. However, oil and gas services and renewable energy services are both special service industries, directly and immediately affected by many political factors, policies, laws, economics, energy transition trends, oil prices, decisions of customers, partners, investors, in addition to natural risks, seasons, weather windows... so it is very difficult to really confirm for an entire development period.

PTSC General Director Tran Ho Bac introduced to the working delegation of Deputy Minister of Industry and Trade Truong Thanh Hoai to visit the PTSC offshore wind power base manufacturing area (January 2025)

Responding to comments that PVS has a “habit” of setting low targets but actual results far exceed the plan, PTSC believes that the work of building PTSC’s revenue, profit and target plans must ensure feasibility and have calculations and anticipation of risk factors to ensure certainty and commitment. However, if favorable factors are met, risks are controlled, and PTSC employees make great efforts, the actual results can exceed the plan and that is a positive thing.
O&M service group, survey service
Following the top service sectors as mentioned above, the Transportation, Installation, Hook-up, Operation, Repair and Maintenance (O&M) Services for Oil and Gas Projects also achieved revenue of about 660 billion VND with existing projects such as GLF3 Phase B1 Engineering, GLF3 Phase B2 Execution, RUYA 12 HUC & BF, EPCIC Low Pressure System Topaz platform. The activities of providing O&M services, human resource supply services under signed long-term contracts continued to be maintained stably. The revenue in the first 5 months of the year from the Seismic Geological Survey and Underground Construction Repair Survey by ROV was estimated at about 237 billion VND, reaching 59.2% of the yearly plan. ROV robotic vessels and equipment serving survey activities such as ROV Panther Plus 954 and ROV Panther Plus 911 were also safely exploited for oil and gas customers in the region. This service group is also gradually participating in and implementing survey packages for the renewable energy sector and currently PTSC G&S Branch is directly implementing survey packages for Vietnam's first investment project on renewable energy - Electricity Export Project to Singapore.
Continue to pursue investment goals in renewable energy

PTSC also said that in the role of Contractor, in addition to traditional oil and gas services and renewable energy services, PTSC is preparing resources to participate in construction and implementation of projects, and is also ready to participate in a number of new potential fields such as nuclear power, carbon storage and recovery services, green energy industry support services... On the other hand, in the role of Investor and Business, PTSC is still promoting, recommending policies, continuing to research and pursue the Electricity Export Project to Singapore. This project has achieved many important milestones, however, this is a very large project, with a long implementation time and no precedent, the project is still in the early stages, PTSC is determined to coordinate with prestigious international partners to implement the next steps and will regularly update shareholders when important progress is achieved.

PTSC's hottest field today is offshore renewable energy services, which are operating effectively with many consecutive projects.

Capital demand is very high and investment expenditure is still "modest" compared to the plan.
In order to consolidate resources to serve the market, in previous years, PTSC has promoted "pillar" solutions, emphasizing investment as the leading solution, and has prepared capital and cash flow to synchronously deploy investment work to serve important strategic projects (mechanical workshop, Industrial Center project, inter-regional renewable energy service (RE-HUB), submarine cable factory, seaport infrastructure projects, investment in vehicles, equipment, survey ships, service ships, FSO/FPSO and digital transformation applications, IT infrastructure...). However, in the first 5 months of the year, PTSC is still implementing investment projects carried over from the previous year and the investment results so far have not really met expectations. This enterprise informed that investment projects are being promoted, procedures are being completed and the disbursement volume is expected to increase in the second half of 2025. In response to comments about “holding large amounts of cash”, PTSC said that with a large investment plan, the need for capital in the coming time is very high. Even at this stage, PTSC is still facing difficulties in capital. In the 2026-2030 period, the capital increase required by PTSC is from VND 4,220 billion to VND 10,220 billion and PTSC is also looking for solutions to increase its charter capital, which may fluctuate from VND 9,000 to VND 15,000 billion to meet investment needs. PTSC is reporting to the parent company and competent authorities on the capital increase roadmap.
On the other hand, PTSC also said that in addition to solutions to promote production and business activities and promote investment, PTSC still advocates cost reduction, savings, and reduction of management costs, raw material costs in production and business. On the other hand, the entire PTSC system is still making efforts to streamline and innovate management in the direction of intelligence, digitalization, application of science and technology, promoting initiatives, improvements, ideas, creativity, and useful solutions in production and business, promoting restructuring, perfecting production models, improving the efficiency of resource use, maximizing output, quality, and supply chain value.
Investors are always calm and cautious
In the face of recent information and the "buzz" effect from articles, social networks with comments, analysis, forecasts, assessments and some headlines with signs of over-exaggeration, PTSC believes that from a positive perspective, these effects also demonstrate the attractiveness of PVS code in the market. However, investors and readers need to be cautious, calm and fully refer to accurate and reliable information from Financial Reports and official information from listed enterprises and reputable experts and organizations when participating in the market. PTSC's official information is posted on the website https://www.ptsc.com.vn/
With the stock code PVS, which has been trusted for many years, with real potential and capacity, PTSC has maintained a stable growth momentum, ensured important financial indicators, and fulfilled its commitments to shareholders. These are the important and sustainable foundational factors for PTSC to continue to consolidate and build trust from the market. Therefore, PTSC believes that investors will always be calm, cautious and have enough trust in PVS. PTSC also affirms that it is continuing to make efforts, wholeheartedly aiming for professionalism, transparency, efficiency, and true commitment to always be recognized as one of the best listed companies.

According to petrotimes.vn

Source: https://www.ptsc.com.vn/tin-tuc/tin-ptsc-1/san-xuat-kinh-doanh/ptsc-duy-tri-hoat-dong-sxkd-on-dinh-trong-5-thang-dau-nam-2025