Petrolimex Sets Record Revenue, Profits Dip Slightly Year-on-Year

Following Q4, Vietnam National Petroleum Group (Petrolimex, HOSE: PLX) achieved a record-breaking revenue of nearly 310 trillion VND. Despite a slight decline in profit compared to the same period last year, the company still surpassed its annual plan.

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PLX’s Business Targets for Q4/2025

In Q4/2025, Petrolimex achieved nearly VND 82 trillion in net revenue, a 15% increase year-over-year. Despite a slight rise in gross profit to VND 4.8 trillion, the gross profit margin narrowed from 6.5% to 5.8% due to faster-growing cost of goods sold.

Financial activities emerged as a highlight in Q4, with revenue reaching VND 420 billion, up 43%. However, interest expenses surged to VND 208 billion, 3.4 times higher than the same period last year. Selling expenses saw a modest increase, remaining the largest pressure point at over VND 3.9 trillion. Additionally, the company recorded minimal other income at VND 2 billion, compared to VND 160 billion in the previous year.

Ultimately, Petrolimex posted a net profit of VND 586 billion, an 8% increase.

For the full year 2025, Petrolimex set a record with nearly VND 310 trillion in revenue, up 10%; net profit reached nearly VND 2.7 trillion, down 7%. Compared to the plan approved by the Annual General Meeting, PLX exceeded its profit target by 15.6%.

Petrolimex’s financial picture at the end of 2025 remained robust. Total assets reached over VND 86 trillion, a 1% increase (equivalent to nearly VND 5 trillion) from the beginning of the year, primarily in current assets (nearly VND 60 trillion, flat year-over-year). Cash and deposits decreased by 5% but remained substantial at over VND 28.5 trillion, accounting for 33% of total assets. Inventory declined by 11%, to nearly VND 14 trillion.

On the funding side, total liabilities increased by over VND 4.6 trillion (9%), reaching VND 56.6 trillion. Of this, financial debt (short and long-term) stood at approximately VND 18.7 trillion, lower than the equity. The debt-to-equity ratio was around 0.63.

Châu An

– 14:58 31/01/2026

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