AsemconnectVietnam - PVB said that the Block B project chain that has begun implementation will help increase revenue and profit in the Company's production and business activities.

According to the 2025 meeting documents, Vietnam Oil and Gas Coating Joint Stock Company (PVCoating - code PVB) set a target of output value and revenue value this year of VND540 billion, an increase of nearly 104% compared to the previous year. Profit after tax reached VND40 billion, an increase of 175%. However, the Company will not pay dividends for both 2024 and 2025.
PVB's above plan is built on the basis of implementing the onshore gas pipeline coating packages and the inland gas pipeline of the Block B - O Mon project chain; Along with that is the project implementation plan in the fields of mechanical processing, anti-corrosion paint, maintenance and repair, commercial activities, ... of domestic and foreign customers and partners that PVCoating has approached or is approaching.
PVB believes that the project chain of Lot B starting to be implemented will contribute to creating jobs and stable income for workers, helping to increase revenue and profit in the production and business activities of the Company.
Specifically, PVB will sign a contract and implement the construction of the pipeline lining of the Block B - O Mon Bank pipeline with a volume of about 104 km of pipes with diameters of 18", 28" and 30", expected to be implemented from the first quarter of 2025 to the fourth quarter of 2025. At the same time, the contract will be signed and implement the construction of the pipeline lining of the Inner Mine pipeline with a volume of about 45 km of pipes with diameters of 8", 10", 16", 20" and 28", expected to be implemented from the end of the first quarter of 2025 to the second quarter of 2025.
In the coming time, the Company will continue to monitor the progress of the implementation of 02 offshore pipeline packages (PCI, PC2) belonging to the Block B - O Mon project chain, the Swan - Hai Au project, and a number of other projects to bid, bid, negotiate and sign contracts.
From there, PVB's board of directors also set the main task this year to complete the construction of signed pipe coating and service contracts to ensure safety, quality, and progress. In particular, being ready (factory, machinery, equipment, human resources, finance ...) to execute pipe coating contracts for the Lot B - O Mon project chain. Continuing to seek and expand customers inside and outside the industry; researching and expanding production and business lines to increase the unit's efficiency.
Regarding business results in 2024, PVB achieved VND265.17 billion in output value and revenue, an increase of 8% compared to 2023. However, after-tax profit increased by 333%, reaching VND14.53 billion. With this result, the Company exceeded 26% of the revenue target and 538% of the annual profit target.
N.Nga
Source: VITIC/Tinnhanhchungkhoan