AsemconnectVietnam - Vietnam Gas Corporation (code GAS) has just published its annual report for 2022 with a business plan for 2023 reduced compared to the previous year.

PV GAS's goal in 2023 is to operate safely, efficiently and ensure the security of gas works; provide 7.7 billion m3 of gas for consumers; total revenue reached VND76,441 billion, down 24% compared to 2022 and profit after tax was VND6,539 billion, down more than 56% compared to last year.
In 2023 and the coming years, PV GAS is forecasted to continue to face many difficulties and fluctuations with extremely unpredictable factors. PV GAS is expected to be affected by the trend of energy transition, price fluctuations of petroleum products, and the increase in renewable energy sources.
In addition, the implementation of gas-power projects still has many unresolved problems due to the involvement of many parties/factors in the whole gas-electricity chain from upstream to downstream; LNG projects face many challenges related to supply, market as well as specific mechanisms.
PV GAS's development goal for the period 2021 - 2025 is to increase revenue by an average of 7 - 9% per year; domestic market share accounted for 100% dry gas; more than 50% of LNG; over 70% LPG; the ratio of profit after tax/charter capital reached over 20%/year.
Looking back at 2022, the Board of Directors assessed that the financial targets exceeded the plan, finished 2-6 months ahead of schedule and increased compared to 2021, which is the year with the highest revenue since the establishment of PV GAS.
Specifically, the Company recorded total revenue of over VND102 trillion, equaling 128% of the plan, up 28% compared to 2021; pre-tax profit reached over VND18.8 trillion, equaling 214% of the plan, up 68% compared to 2021; profit after tax reached nearly VND15.1 trillion, equal to 214% of the plan, up 70% compared to 2021; contribution to the State budget reached over VND8.1 trillion, equaling 199% of the plan, up 28% compared to 2021.
N.Nga
Source: VITIC/Tinnhanhchungkhoan