OIL’s Business Targets in Q2 2025

In the second quarter of 2025, OIL’s revenue reached nearly VND 40 trillion, up 15% year-on-year. However, due to a 15% increase in cost of goods sold, gross profit stood at over VND 1,150 billion, a 7% increase.

Financial income rose 32% to VND 229 billion, while financial expenses fell 27% to over VND 103 billion. Despite losses from associates and joint ventures of VND 1.3 billion (compared to a profit of VND 5.8 billion in the same period last year) and increases in selling and management expenses, OIL recorded an impressive net profit of VND 181 billion, more than double that of the previous year.

OIL attributed this performance to the fluctuating oil price environment. Brent DTD oil prices averaged USD 67.82 per barrel in Q2 2025, 20% lower than the previous year’s average of USD 84.97. Prices of oil products also declined by 17-20% during this period. Conversely, domestic base prices, set by authorities, exhibited an upward trend, contrasting the downward trend observed in the previous year.

Additionally, financial activities contributed significantly to the improved results, as foreign exchange losses decreased, outpacing the rise in interest expenses. These factors collectively led to OIL’s enhanced performance.

Given the significant loss in Q1, the half-year results were less remarkable. In the first six months of 2025, OIL achieved VND 72.7 trillion in net revenue, a 13% increase year-on-year, while net profit stood at VND 209 billion, a 35% decrease. Compared to the plan approved at the 2025 Annual General Meeting of Shareholders, the PVN member achieved nearly 75% of the revenue target and over 36% of the annual after-tax profit goal.

Source: VietstockFinance

As of the end of Q2, OIL’s total assets amounted to nearly VND 43.7 trillion, a 5% increase from the beginning of the year. Short-term assets slightly increased to over VND 37 trillion. Cash and cash equivalents reached nearly VND 15.3 trillion, a slight increase, while inventory surged by almost 50% to over VND 5.3 trillion.

On the capital side, the majority of liabilities were short-term, amounting to nearly VND 31.7 trillion, a nearly 6% increase. Short-term borrowings rose by 14% to over VND 8.4 trillion. The current and quick ratios both stood at approximately 1, indicating OIL’s strong financial health and ability to meet short-term obligations.

Chau An

– 15:58 04/08/2025

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