Vietnam Exhibition Fair Center JSC (VEF) recently released its Q3/2025 financial report, revealing a staggering 11.5x surge in net revenue to VND 46 billion, compared to VND 4 billion in Q3/2024.
Despite the impressive revenue growth, a sharp rise in cost of goods sold to over VND 105 billion resulted in a gross loss of VND 59 billion, a stark contrast to the VND 800 million gross profit recorded in the same period last year.
However, a threefold increase in financial income (from lending and investments) to over VND 387 billion in Q3/2025, up from VND 129 billion in Q3/2024, propelled VEF’s after-tax profit to VND 168 billion, a 98% year-on-year increase.
For the first nine months of 2025, VEF’s cumulative net revenue skyrocketed to VND 44,611 billion, a remarkable 9,892x increase from VND 4.5 billion in the same period of 2024. Pre-tax profit reached VND 19,295 billion, 58 times higher year-on-year, with after-tax profit hitting VND 15,418 billion, compared to VND 264 billion in 2024.
This extraordinary growth is primarily attributed to VND 44,560 billion in revenue from the partial transfer of the Vinhomes Global Gate project in Q1, coupled with increased financial income from business partnerships.
As of September 30, VEF’s workforce expanded to 136 employees, an addition of 62 since the beginning of the year. This translates to an average pre-tax profit of nearly VND 195 billion per employee for the first nine months, or approximately VND 21.66 billion per person per month—significantly outpacing the previous leader, VIX, which averaged VND 6.77 billion per person monthly.
By September 30, 2025, VEF’s total assets had decreased by 70% since the start of the year, from VND 105,107 billion to VND 31,977 billion. Total liabilities also saw a substantial 75% reduction, dropping from VND 101,089 billion to VND 25,286 billion.
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