Viglacera Corporation – JSC (HOSE: VGC) announced its consolidated financial statements for Q1 2025, with net revenue reaching nearly VND 2,855 billion, an 8% increase from the previous year. The largest contribution came from the land leasing segment, with developed infrastructure bringing in over VND 1,221 billion, a 13% increase, and accounting for 43% of the total revenue. Financial revenue was nearly VND 24 billion, a 5% increase.
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VGC’s revenue structure in the first quarter of 2025
Source: VGC
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However, total expenses increased by 15% to nearly VND 445 billion, mainly due to management and sales costs. Despite this, Viglacera still recorded a net profit of nearly VND 321 billion, a significant 56% increase.
Source: VietstockFinance
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Looking ahead to the rest of 2025, VGC anticipates that the global economy will continue to be impacted by geopolitical uncertainties and unpredictable events. Sustainable development, new technologies, and the demand for disaster-resilient structures will be key trends in both domestic and international markets.
Vietnam’s economy is expected to maintain its growth trajectory and attract foreign investment. The real estate market is hoped to enter a phase of stability and sustainable growth, offering opportunities for both investors and end-users. The leading market segments are forecasted to be mid-range apartments, social housing, and industrial real estate.
Regarding the materials market, VGC predicts strong growth due to high demand from the construction, real estate, and infrastructure sectors. Additionally, government policies supporting production and export, along with trade agreements, are expected to create favorable conditions for this industry.
Based on these factors, Viglacera has set ambitious business targets for 2025, aiming for consolidated revenue of VND 14,437 billion and pre-tax profits of VND 1,743 billion, representing increases of 21% and 7%, respectively, from the previous year. The company also plans to pay a 22% dividend for 2025.
In the first three months of the year, the company has already achieved 20% of its revenue target and 24% of its profit target. As of the end of Q1, VGC’s total assets stood at nearly VND 23,963 billion, a decrease of almost 4% from the beginning of the year.
Long-term assets accounted for 63% of total assets, amounting to over VND 15,050 billion, a 2% decrease. Inventories totaled nearly VND 4,600 billion, a 5% increase, while construction work-in-progress was valued at over VND 5,886 billion, a 3% decrease, with the highest concentration in the Thuân Thà nh Industrial Park Phase 1 project (over VND 1,523 billion) and the Phú Hà Industrial Park Phase 1 project (nearly VND 806 billion).
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VGC’s construction work-in-progress expenses as of Q1 2025
Source: VGC
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The company’s total liabilities decreased by 8% from the beginning of the year to nearly VND 13,713 billion. Financial borrowings stood at VND 4,746 billion, a 1% decrease, accounting for 35% of the company’s total liabilities.
– 20:00 21/04/2025
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