After a long period of being in losses, enterprises under Vietnam Cement Corporation such as Vicem Hoang Mai, Vicem But Son and Vicem Ha Tien have made an extraordinary comeback, with strong business results in the second quarter of 2025.
Vicem Hoang Mai: Reported profit increased 27 times
Accordingly, not only have businesses reversed from losses to profits, but they have also significantly improved their profit margins, thanks to optimizing cost of goods sold and tightening costs. These positive signals are expected to open a more sustainable recovery cycle, specifically.
According to a recent announcement by Vicem Hoang Mai, this enterprise reported a 27-fold increase in profit in the second quarter of 2025. According to information from the financial report for the second quarter of 2025, Vicem Hoang Mai recorded positive business results when it switched from loss to profit, despite net revenue reaching only over 490 billion VND, a slight decrease of 1% compared to the same period last year.
Notably, the cost of goods sold decreased by 5.4%, helping gross profit increase sharply by 25%, to more than VND90 billion. Gross profit margin thus improved significantly from 14.5% to 18.3%, reflecting the effectiveness in controlling production and sales costs. Financial revenue in this quarter decreased by nearly 36%, reaching only nearly VND818 million, compared to VND1.3 billion in the same period last year.
In contrast, financial expenses increased significantly from over VND817 million to over VND2 billion, of which interest expenses accounted for the majority. Sales expenses and business management expenses also increased, to VND57 billion and nearly VND25 billion, respectively. Despite the increase in expenses, thanks to improved gross profit, the company still recorded a net profit from business activities of over VND7 billion.
Accordingly, Vicem Hoang Mai achieved results, profit after corporate income tax of more than 7 billion VND, a sharp increase compared to the same period last year which only reached 270 million VND. This growth rate is equivalent to more than 27 times, reflecting a clear improvement in the efficiency of the company's production and business activities.
If calculated cumulatively in the first 6 months of 2025, the Company's net revenue reached nearly 842 billion VND, profit after tax reached approximately 8 billion VND, while in the same period last year it lost nearly 40 billion VND. With this result, the transition from loss to profit within a year is a significant step forward, demonstrating efforts to cut costs, improve profit margins and enhance financial efficiency.
One of the factors causing pressure is the sharp increase in electricity costs, which is also a factor putting pressure on profits. Meanwhile, according to the recent report explaining the financial statements of Vicem Hoang Mai, from October 2024 to May 2025, Vietnam Electricity Group (EVN) has adjusted the electricity price twice by 4.8%, causing the average electricity price in the second quarter of 2025 to increase by 138 VND/kWh compared to the same period, causing profits to decrease by about 4.3 billion VND. In addition, some other factors such as fixed costs also affect profits this quarter. As of June 30, 2025, HOM's total assets reached 1,486 billion VND, and liabilities were 619 billion VND.
Vicem But Son reported after-tax profit of more than 12 billion VND
This is a positive signal for Vicem But Son after many quarters of losses since 2022. Specifically, according to the financial report for the second quarter of 2025 of Vicem But Son Cement Joint Stock Company, net revenue in the period reached 672 billion VND, a slight decrease of 2.8% compared to the same period last year.
However, the highlight was the sharp decrease in cost of goods sold by 9.6%, helping gross profit skyrocket from 5.6 billion to nearly 52 billion VND. As a result, gross profit margin improved significantly, reflecting the effectiveness in optimizing production costs and input structure. Although financial expenses remained high at nearly 17 billion VND, of which interest accounted for 16 billion, they decreased compared to the same period. Selling expenses and administrative expenses were 16 billion VND and 22 billion VND respectively, unchanged from the previous year, helping to control the operating burden.
Thanks to improved gross profit margins and cost reductions, the company significantly narrowed its net operating loss to just under VND3 billion, compared to VND55 billion in the same period last year. In addition, other profits continued to make an important contribution, reaching over VND15 billion, helping to turn the business results from negative to positive.
Vicem But Son recorded a profit after tax in the second quarter of 2025 of more than 12 billion VND, while in the same period last year it lost 40 billion VND. This is an impressive comeback, showing that the business is gradually getting out of the difficult period. Accordingly, in the first 6 months of the year, BTS's net revenue reached 1,286 billion VND, a slight increase over the same period, while after-tax profit was negative 16 billion VND, but a sharp decrease compared to the loss of 95.6 billion VND in the first 6 months of 2024. This shows that the recovery momentum is increasingly clear, creating a positive premise for business results in the second half of the year.
Vicem Ha Tien reports huge profits
With a loss of more than VND 9 billion in early 2025, Vicem Ha Tien quickly made a comeback in the second quarter. According to the consolidated financial report for the second quarter of 2025, there were many positive signals such as: Sales and service revenue reached VND 2,098 billion, up 2.5% over the same period in 2024. After deducting deductions, net revenue reached VND 1,931 billion, slightly up over the same period. The highlight was that gross profit skyrocketed by 53%, reaching more than VND 270 billion compared to VND 176 billion in the second quarter of 2024, thanks to a 4.2% decrease in cost of goods sold to VND 1,660 billion. This helped the gross profit margin improve sharply to 14%, reflecting the company's efforts to optimize production costs.
In addition, Vicem Ha Tien's cost management activities continued to be tightened. Sales costs and business management costs in the period decreased significantly. Accordingly, after-tax profit in the second quarter of 2025 reached VND 112 billion, 2.5 times higher than nearly VND 46 billion in the same period. Accumulated in the first 6 months of the year, Vicem Ha Tien recorded after-tax profit of VND 103 billion, nearly 5 times higher than the VND 21 billion in the first half of 2024. This is an impressive result in the context of the cement industry facing fierce competitive pressure and market demand has not fully recovered.
According to the explanation of the main reasons affecting the business results in the period, Vicem Ha Tien said that they included: cement consumption output in the second quarter of 2025 increased by 8.5% compared to the same period last year; Cost of goods sold decreased significantly when the company strengthened control of production costs and input raw material prices cooled down compared to the same period last year. In addition, Vicem Ha Tien also increased revenue from collecting capital recovery fees for the project of building a road connecting Nguyen Duy Trinh Street to Phu Huu Industrial Park, Ho Chi Minh City.
According to the Resolution of the 2025 Annual General Meeting of Shareholders, Vicem Ha Tien plans its production, business and investment construction plan for 2025 to focus on expanding the scale of production and consumption of main products. Vicem Ha Tien also sets a target of total revenue in 2025 of about VND 7,162 billion, pre-tax profit of VND 230 billion and after-tax profit of VND 184 billion, corresponding to a return on equity of about 3.89%.
Thus, in the second quarter of 2025, the fact that cement enterprises under the Vietnam Cement Corporation simultaneously reported profits after many quarters of negative growth is the clearest signal showing that the financial recovery cycle of the industry has begun to take shape. Not only simply shifting from losses to profits, enterprises also showed initiative in restructuring costs, making good use of alternative materials, optimizing production and flexibly adapting to fluctuations in electricity and raw material prices./.
Source: https://baolamdong.vn/suc-khoe-doanh-nghiep-xi-mang-co-khoi-sac-383857.html
Comment (0)