Eximland Posts Q3 Loss Despite Significant Cost-Cutting Measures

According to the Q3/2025 Consolidated Financial Report, Exim Real Estate JSC (Eximland) recorded flat net revenue compared to the same period last year, totaling nearly VND 8 billion. This revenue was entirely derived from service provision activities.

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Financial revenue plummeted by 87% to VND 349 million, a stark contrast to the nearly VND 3 billion recorded in the same period last year due to other financial income.

While revenue remained stagnant, the cost of goods sold increased by 5%, resulting in a slight 2% dip in gross profit to over VND 4 billion. However, interest expenses and management costs decreased by 38% and 4%, respectively, totaling nearly VND 2 billion and VND 3 billion.

Despite these reductions, the revenue generated during the period was insufficient to offset the expenses, leading to a net loss of nearly VND 400 million for Eximland. This brings the total loss for the first nine months of the year to over VND 923 million.

Eximland’s Business Results for the First Nine Months of 2025. Unit: Billion VND

As of September 30, 2025, Eximland’s total assets stood at over VND 666 billion, a 4% decrease from the beginning of the year. This decline is primarily attributed to the absence of VND 93 billion in short-term receivables from Mr. Lâm Duy Tân. Conversely, short-term cash holdings surged from VND 648 million to nearly VND 71 billion.

Liabilities decreased by 20% to over VND 112 billion. Short-term debt decreased by 21% to more than VND 67 billion, while other short-term payables dropped by 29% to nearly VND 15 billion. This reduction is mainly due to the elimination of nearly VND 3 billion in seniority bonuses for employees and a decrease in dividends payable from VND 10 billion to nearly VND 7 billion.

Hà Lễ

– 5:28 PM, October 24, 2025

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