AsemconnectVietnam - Vietnam Sun Joint Stock Company (Vinasun, code VNS - HOSE) recorded a profit of VND14.16 billion in the first quarter of 2024, down 35.7% year-on-year and only completed 26.4% of the annual plan.

In the first quarter of 2025, Vinasun recorded revenue of VND234.39 billion, down 15.9% year-on-year, profit after tax of VND14.16 billion, down 35.7% year-on-year.
During the period, gross profit decreased by 4.6% year-on-year, equivalent to a decrease of VND2.5 billion to VND52.2 billion; financial revenue decreased by 28.7%, equivalent to a decrease of VND1.29 billion, to VND3.21 billion; Financial expenses increased by 40.5%, equivalent to an increase of VND2.29 billion to VND7.95 billion; sales and business management expenses decreased by 12%, equivalent to a decrease of VND5.1 billion to VND37.53 billion and other activities fluctuated insignificantly.
Thus, in the first quarter of the year, in addition to the decline in gross profit, Vinasun also faced pressure from increased business management costs and a shortfall in financial revenue, which was the main reason for the 35.7% decrease in net profit, to VND14.16 billion.
In 2025, Vinasun plans to have total revenue of VND976.94 billion, down 2.5% year-on-year, and expected after-tax profit of VND53.63 billion, down 36.2% compared to 2024.
Thus, ending the first quarter of 2025 with after-tax profit of VND14.16 billion, Vinasun has only completed 26.4% of the annual plan.
In terms of asset size, as of March 31, 2025, Vinasun's total assets decreased by 1.9% compared to the beginning of the year, equivalent to a decrease of VND34.7 billion to VND1,820.5 billion. Of which, the main assets recorded VND1,346.9 billion are fixed assets, accounting for 74% of total assets; cash and short-term financial investments recorded VND305.1 billion, accounting for 16.8% of total assets; Short-term receivables recorded VND97.1 billion, accounting for 5.3% of total assets and other items.
N.Nga
Source: VITIC/Tinnhanhchungkhoan