Business

Vietnamese companies post billions of dollars in revenue

Despite the turbulence of 2020, many Vietnamese companies across sectors from real estate, oil and gas, materials to retail on the stock market still posted billions of dollars in revenue.
Vietnamese companies post billions of dollars in revenue ảnh 1Vietnam Airlines' aircraft at Van Don international airport of Quang Ninh province (Photo: VNA)
Hanoi (VNS/VNA) - Despite the turbulence of 2020, many Vietnamese companiesacross sectors from real estate, oil and gas, materials to retail on thestock market still posted billions of dollars in revenue.

VietnamNational Petroleum Group (PLX) reported the highest revenue in 2020. Its fourthquarter results showed net revenue was 123.9 trillion VND, equivalent to 5.39billion USD.

It wasfollowed by Vingroup JSC (VIC), Mobile World Investment Corporation (MWG), HoaPhat Group JSC (HPG) and Masan Group Corporation (MSN) with revenues reaching 110.5trillion VND (4.8 billion USD), 108.5 trillion VND (4.7 billion USD), 90.1trillion VND (3.9 billion USD) and 77.2 trillion VND (3.4 billion USD),respectively.

Othercompanies gaining billions of dollars in revenues included Vinhomes JSC (VHM)with 70.89 trillion VND (3.08 billion USD), Vietnam Dairy Products JSC (VNM)with 59.6 trillion VND (2.95 billion USD), Binh Son Refining and PetrochemicalCompany Limited (BSR) with 58 trillion VND (2.5 billion USD), PetroVietnam OilCorporation (OIL) with 50 trillion VND (2.2 billion USD), Vietnam Airlines JSC(VHN) with 40.6 trillion VND (1.8 billion USD) and PetroVietnam PowerCorporation (POW) with 29.7 trillion VND (1.29 billion USD).

However notall of these companies posted outstanding performance compared to the yearbefore (2019). Some companies like MSN, HPG and VHM thrived while others likePLX, OIL, BSR, HVN and VIC witnessed their revenues drop.

In 2020,PLX’s revenue dropped 34.6 percent year-on-year, while OIL’s net revenue alsodeclined by 36.6 percent against 2019.

Meanwhile,MSN’s revenue doubled that of 2019 on the growth in its meat business andconsumer goods. HPG also recorded spectacular performance last year withnet revenue increasing 1.4 times. HPG’s crude steel production reached 5.8million tonnes for the first time in 2020, double the amount of 2019.

Higherrevenues, not higher profits

Despitegaining billions of dollars in revenue, MSN’s profit after tax still decreasedby 78 percent year-on-year to 1.4 trillion VND.

The mainreason for the fall in profit was the merger of VinCommerce and the rise inminority interest in Masan Consumer Joint Stock Company (MCH) due to thediversity of MSN's ownership, according to Masan.

Even thoughVietnam Airlines (VHN) was on the list of big gainers in revenue, the carrierstill posted a big loss in profit after tax last year. Its profit after tax wasnegative 11.1 trillion VND. In 2019, the profit after tax was 2.5 trillion VND.

The outbreakof COVID-19 was the main cause for the loss of the national carrier as itforced Vietnam Airlines to close international flights andrestrict domestic flights./.
VNA
#COVID-19 #Vietnamese companies #stock market #billions of dollars in revenue #vietnamplus #vietnam news agency
Follow VietnamPlus

Related News

See more

The Vietnam–Cambodia business connectivity conference held in Ho Chi Minh City on July 15 aims at boosting trade and investment between the two economies. (Photo: VNA)

Conference seeks ways to promote Vietnam – Cambodia trade

The value of trade between Vietnam and Cambodia reached 6.2 billion USD in the first six months of 2025, a year-on-year increase of 16.8%. Vietnam's exports to Cambodia totaled 2.7 billion USD, up 4.6% from the same period last year.

A Korea-invested company in Hue city, Vietnam (Photo: VNA)

Foreign investors show strong confidence in Vietnam’s long-term investment potential

While concerns over tariffs are real and may lead some foreign investors to take a more cautious approach in disbursing capital, especially for large-scale and long-term projects, Vietnam still holds significant advantages in attracting FDI thanks to a favourable business environment and, most importantly, the Government’s strong commitment to supporting investors.

Deputy Minister Nguyen Hoang Long, Minister of State Douglas Alexander, and representatives from ministries and the embassies of both countries pose for a group photo at the 14th JETCO meeting. (Photo: VNA)

Vietnam, UK boost economic, trade ties

Over the past decade, trade and investment relations between Vietnam and the UK have made remarkable strides. On trade, the two countries have implemented the UKVFTA for more than four years, and most recently, the UK’s accession as the 12th member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has further strengthened bilateral cooperation.

Workers assemble parts on an automotive production line in HCM City. The city’s industrial sector is showing strong signs of recovery. (Photo: moit.gov.vn)

HCM City sees strong recovery in industrial production

HCM City's 23 industries – including printing and media reproduction, furniture manufacturing, non-metallic mineral products, motor vehicles, electrical equipment, clothing and electronic and optical products – reported higher output in the first half of 2025.

Workers pack cashew nuts at Duc Thinh production and trading co., ltd., former Binh Phuoc province (Photo: VNA)

Vietnam targets 4.5 billion USD in cashew exports for 2025

Figures from the first six months show cashew exports reached 346,800 tonnes, earning 2.36 billion USD, a drop of 2.7% in volume but a surge of 20.4% in value annually. The rise was largely attributed to a significant increase in export prices, which helped offset lower shipment volumes.

The Hai Phong City Convention and Performance Centre is one of the venues for ABAC III. (Photo: VNA)

Hai Phong expects strong wave of investment from APEC member economies

Hai Phong will present investment registration certificates for 32 projects and sign seven Memoranda of Understanding, with total committed capital exceeding 15.6 billion USD. These projects include investments from Europe and the US, reflecting the growing interest of global investors in the city's business environment and development potential.

The ongoing administrative reforms are expected to expand the real estate sector's appeal to investors. (Photo: VNA)

Institutional reforms open new investment frontier for realty sector

Assessing the impact of the new model, Director at Savills Vietnam’s Advisory Services Do Thi Thu Giang said that the deeper decentralisation of authority to local administrations will help reduce processing time for construction permits and project approvals, thereby reducing opportunity costs and increasing investment efficiency.

Minister Counsellor Pham Quang Huy, deputy head of Vietnam's Permanent Mission to Geneva and representatives of St. Gallen Endowment. (Photo: VNA)

Vietnam boosts cooperation with St. Gallen Endowment of Switzerland

Minister Counsellor Pham Quang Huy, deputy head of Vietnam's Permanent Mission to Geneva, has recently held a working session with representatives of the St. Gallen Endowment to boost cooperation between Vietnam and the Swiss fund, as part of his attendance at a seminar in Geneva on risk levels and countries’ trade responses to rising tariffs.