“REE Earns Net Profit of Over VND 600 Billion in Q1, with Significant Growth in Electricity Segment”

4 May, 2025

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## REE’s Q1 2025 Financial Results: A Strong Start to the Year

A snapshot of REE’s Q1 2025 performance

Source: VietstockFinance

For the first quarter, REE recorded impressive figures with consolidated revenue reaching nearly VND 2,070 billion, a 13% increase compared to the same period last year. Meanwhile, cost of goods sold only rose by 2%, resulting in a substantial 208% surge in gross profit to VND 950 billion.

Other key indicators also showcased positive trends, as financial revenue climbed by 57% to VND 110 billion, and financial expenses decreased by 15% to VND 191 billion. Profit from associated companies witnessed a healthy 16% increase to VND 140 billion.

Ultimately, the company posted a net profit of VND 611 billion, reflecting a notable 27% improvement year-on-year. In relation to the targets approved at the 2025 Annual General Meeting of Shareholders, REE has accomplished 20% of its revenue goal and nearly 34% of its after-tax profit plan.

Source: VietstockFinance

According to REE, the robust profit growth was predominantly driven by the electricity sector, largely attributed to the performance of subsidiary companies such as Vinh Son – Song Hinh Hydropower Joint Stock Company (HOSE: VSH) and Thuy Dien Mien Trung Joint Stock Company (HOSE: CHP). A closer look at the numbers reveals that REE’s electricity infrastructure segment contributed VND 413 billion in net profit for the quarter, marking a significant 73% jump compared to the previous year.

In the real estate sector, REE reported a setback in the rental property segment during the period, mainly due to the operation of the e.town 6 building, where operating costs exceeded revenue as it is still in the process of filling up.

As of the end of the first quarter, REE’s total assets stood at nearly VND 36,900 billion, a slight increase from the beginning of the year. Short-term assets accounted for nearly VND 12,000 billion, a 5% rise, while cash and cash equivalents remained stable at nearly VND 6,000 billion. Inventories increased by 8% to nearly VND 1,400 billion, mostly comprising production and business costs in progress.

On the liabilities side, total liabilities decreased slightly to nearly VND 13,700 billion, the majority of which were long-term liabilities. Short-term liabilities also witnessed a minor decline to nearly VND 4,000 billion, including over VND 1,260 billion in bank loans. With cash holdings surpassing short-term liabilities, there are no concerns regarding the company’s debt repayment capability.

Chau An

– 08:59 01/05/2025