Vietnam’s Largest Listed Employer Unveils Q3 Earnings: Profit Doubles, Total Assets Hit $3.6B with $1B in Cash Reserves

Vietnam Rubber Industry Group (stock code: GVR) has released its consolidated financial report for Q3/2025, revealing a net revenue of VND 9,294 billion, a 20% increase compared to the same period last year. Gross profit surged by 66% year-on-year, while pre-tax profit reached nearly VND 2,619 billion, doubling from the previous year. Net profit after tax exceeded VND 2,187 billion.

The company attributed the significant profit growth in Q3/2025 primarily to higher rubber latex prices compared to the same period last year, boosting profits from latex production and sales.

For the first nine months of 2025, Vietnam Rubber Industry Group recorded a net revenue of VND 20,433 billion, up 20% year-on-year, achieving 66% of the annual plan. Net profit after tax reached VND 5,217 billion, a 93% increase year-on-year, surpassing the annual plan by 105%.

As of September 30, 2025, the Group’s total workforce stood at 75,975 employees, an increase of 379 employees since the beginning of the year (75,596 employees as of January 1, 2025).

This marks the first time the Group has disclosed its employee count in a financial report, potentially making it the listed company with the largest workforce.

By the end of 2024, Vingroup had approximately 67,000 employees. Other companies with substantial workforces include The Gioi Di Dong (61,000 employees) and FPT (nearly 54,000 employees).

As of September 30, 2025, the Group’s total assets reached VND 84,839 billion, a slight 1.7% increase from the beginning of the year (VND 83,384 billion). Cash and cash equivalents totaled VND 7,488 billion, up 30% year-on-year.

Total liabilities decreased by 16%, from nearly VND 25,000 billion to VND 20,900 billion. Equity rose by 9.5%, from VND 58,400 billion to VND 63,900 billion, with undistributed net profit after tax reaching VND 10,700 billion, a 71% increase since the beginning of the year.

The Group has announced November 14, 2025, as the record date for the 2024 cash dividend distribution. The dividend rate is set at 4%, meaning shareholders will receive VND 400 per share. With 4 billion outstanding GVR shares, the Group is expected to allocate approximately VND 1,600 billion for this dividend payment, scheduled for December 12, 2025.

In other developments, Vietnam Rubber Industry Group will hold an Extraordinary General Meeting of Shareholders on November 5, 2025, via an online platform. The meeting will review the Group’s production and business performance for the first 10 months of 2025 and outline plans for the remaining two months.

Additionally, the Group will present amendments to its Charter, Board of Directors’ Regulations, and Supervisory Board’s Regulations. The meeting will also address the dismissal of the Auditor for the 2021-2026 term and the election of new Board of Directors members and Supervisors for the same term.