Several Vietnamese companies have released their Q2 2024 financial reports as of July 31, 2024, showcasing impressive growth and profitability.
Hòa Phát Group (HPG) reported a 34% surge in revenue, with a remarkable pre-tax profit of over 3,733 billion VND, up 119% year-on-year. Their net profit also increased by 129%, reaching 3,320 billion VND.
For the first half of 2024, Hòa Phát’s pre-tax profit stood at 6,994 billion VND, a substantial 213% increase year-on-year, with a net profit of 6,189 billion VND.
Vietjet (VJC) announced its consolidated financial statements for Q2 2024, revealing a pre-tax profit of nearly 635 billion VND, an astonishing 195-fold increase compared to the same period in 2023. For the first six months of 2024, Vietjet’s pre-tax profit exceeded 1,311 billion VND, more than quadrupling the figure from the previous year.
Vietcombank (VCB), Vietnam’s leading commercial joint-stock bank, reported a 9% year-on-year increase in consolidated pre-tax profit, reaching over 10,116 billion VND for Q2 2024. For the first half of the year, their consolidated pre-tax profit neared 20,835 billion VND, representing a 1.6% uptick compared to 2023.
VietinBank (CTG) recorded a 3% year-on-year growth in pre-tax profit for Q2, amounting to 6,750 billion VND. Their consolidated pre-tax profit for the first six months of 2024 reached 12,960 billion VND, a 3% increase from 2023.
MB (MBB) demonstrated strong performance in Q2 2024, with a pre-tax profit of 7,633 billion VND, up 22.7% year-on-year. Their consolidated pre-tax profit for the first half of 2024 stood at 13,428 billion VND, a 5.4% increase.
Petrolimex (PLX) posted impressive results, with a pre-tax profit of 1,503 billion VND, a substantial 41% increase year-on-year. Their net profit rose to 1,275 billion VND, a 43% jump compared to the same period last year. For the first six months of 2024, Petrolimex’s revenue reached 148,943 billion VND, and their net profit stood at 2,407 billion VND, reflecting a nearly 12% and 54% year-on-year growth, respectively.
Novaland (NVL) experienced a significant turnaround, with a fivefold increase in financial income for Q2 2024, resulting in a net profit of 946 billion VND. This marked a considerable improvement from the 684 billion VND loss incurred in Q2 2023. For the first half of 2024, Novaland’s net profit reached 345 billion VND, a remarkable shift from the 1,094 billion VND loss in the same period last year.
NSH Petro (PSH) reported a net loss of over 344 billion VND for Q2, with a six-month net loss of 374 billion VND.
The Gioi Di Dong (MWG), a leading mobile phone and accessories retailer, saw a 15% year-on-year increase in revenue, totaling 34,495 billion VND. Their pre-tax profit soared by 1,000%, reaching 1,516 billion VND, marking the highest profit for the company in the last nine quarters.
