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PV GAS’s Q3/2025 Business Targets
Source: VietstockFinance
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In Q3, PV GAS reported a net revenue of nearly VND 35.7 trillion, a robust 41% increase compared to the same period last year. However, the cost of goods sold surged by 50%, resulting in a slight decline in gross profit to over VND 4.1 trillion.
Despite this, GAS maintained its net profit at over VND 2.5 trillion, thanks to a 21% reduction in financial expenses (down to VND 86 billion) and a 25% decrease in management costs (down to VND 526 billion).
For the first nine months of the year, GAS achieved a revenue of over VND 91.4 trillion, a 16% year-on-year increase, with a net profit of over VND 10 trillion, up 20%. This performance nearly matches the full-year 2024 results (approximately VND 10.4 trillion), surpassing both revenue and post-tax profit targets set by the 2025 Annual General Meeting (exceeding by 24% and 92%, respectively).
Source: VietstockFinance
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By the end of Q3, GAS’s total assets reached nearly VND 94 trillion, a 15% increase from the beginning of the year, with current assets accounting for VND 70.2 trillion, up 23%. Cash and short-term financial investments (term deposits) stood at over VND 44 trillion, a 34% increase, representing 47% of total assets. These deposits generated nearly VND 947 billion in interest income in the first nine months. However, inventory decreased significantly by 48%, to nearly VND 2.4 trillion.
In terms of long-term assets, construction in progress rose by 37% to nearly VND 2.4 trillion, primarily due to the B-O Mon gas pipeline project.
On the liabilities side, total debt reached nearly VND 27.5 trillion, a 35% increase from the beginning of the year. Short-term debt saw a sharp rise, mainly due to a 72% increase in “Accounts Payable – Short-Term” (up to nearly VND 10.4 trillion) and the emergence of VND 3.9 trillion in dividend payments under “Other Short-Term Payables.” Total loans (short and long-term) amounted to over VND 3.3 trillion, constituting only 3.5% of total capital.
– 09:38 03/11/2025
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