For 2025, TMP sets cautious targets despite forecasts of El Nino likely maintaining a neutral state, while total rainfall is predicted to increase.
2025 Annual General Meeting of TMP
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Specifically, in 2025, TMP aims for revenue of over 703 billion VND, an 8% decrease from the previous year; and estimated profit after tax of 290 billion VND, a retreat of over 18%. In terms of output targets, the company plans to produce 732 million kWh of electricity, 11% lower than the previous year, with 663 million kWh from hydropower. The plan for commercial electricity is expected to be 727 million kWh, with hydropower accounting for 658 million kWh.
Notably, Chairman of the Board of Directors, Huynh Van Khanh, shared that the estimated profit after tax for the second quarter is 120 billion VND, 1.6 times higher than the same period last year. Mr. Khanh attributed this to the favorable weather conditions in the Southeast region (where the Thac Mo Hydropower Plant is located), which has a different weather pattern from the Central and Northern regions. The rainy season in this area usually starts from April to August, and some years it can rain through September. Currently, the water level at Thac Mo Lake is very positive, and we are in the peak of the rainy season, resulting in favorable conditions.
Combined with the profit of 52 billion VND in the first quarter, TMP has earned approximately 172 billion VND in the first six months, achieving 59% of the yearly plan.
Regarding dividends, the meeting agreed on a rate of 20% for 2025, the same as in 2024.
TMP’s plans are relatively cautious considering the generally positive forecasts. The company predicts that El Nino will remain neutral, with temperature anomalies close to the long-term average in the first week of March 2025. There is a 70-80% chance of neutral El Nino conditions continuing into the second quarter.
Meanwhile, widespread hot weather is likely to occur in the Central Highlands and Southern regions from April 2025, later than average, with fewer hot days compared to the same period last year. In the Northwest region and the mountainous areas of the North-Central Coast, the intensity of hot weather in April 2025 is expected to be less severe than in previous years; from May 2025 onwards, hot weather conditions are likely to increase across the entire Northern and Central regions.
The situation of storms and tropical depressions in the South China Sea in the second quarter is forecast to be similar to the long-term average. The average rainfall in April and May 2025 is expected to be higher than normal, while June’s rainfall is forecast to be close to the average of previous years.
In terms of investment activities, TMP plans to implement the following key projects: carry out procedures for investing in a head office in Ho Chi Minh City; Thac Mo 2 solar power plant with a capacity of 100 MWp; closely follow the procedures to take over the Thac Mo expanded hydropower plant when there is a policy from the competent authorities; actively seek other potential power source projects for investment.
The total planned capital investment for 2025 is over 148 billion VND, expected to be funded by the company’s own capital. Additionally, the company also plans to invest nearly 29 billion VND in the purchase of assets, 15.7 billion VND in the application of science and technology, and digital transformation.
– 17:29 27/06/2025
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