AsemconnectVietnam - After 5 months, Power Generation Corporation 3 completed 43.8% of the revenue plan and 76.8% of the profit plan excluding revaluation exchange rate differences. Investment activities recorded many positive changes in 2024.

2025 revenue plan increased by 8.6%
Power Generation Corporation 3 - Joint Stock Company (EVNGENCO3, code PGV - HoSE) has just successfully held the 2025 Annual General Meeting of Shareholders (AGM) on June 10. The meeting was attended by shareholders and authorized representatives, representing more than 99.2% of the total number of voting shares.
Reporting at the Congress, the Corporation's leaders said that in 2024, EVNGENCO3 operated electricity production stably, economically, and ensured environmental safety in the context of general difficulties in the world and Vietnam.
The parent company's total electricity output was 23,358 billion kWh, reaching 92.14% of the plan, total revenue reached VND39,678 billion, completing 98.3% of the plan, pre-tax profit excluding exchange rate difference was VND528 billion.
In 2025, EVNGENCO3 plans to reach 25,374 billion kWh of electricity output. The General Meeting of Shareholders also approved a revenue plan of VND42,852 billion, an increase of 8.6% compared to 2024. Planned profit (excluding revaluation exchange rate difference) is VND612 billion, an increase of 15.9% over the same period. The lowest expected dividend rate is 5%.
The Corporation affirms that it will continue to make efforts to maintain power generation to contribute to ensuring electricity supply, national energy security and completing the targets and plans approved by the Annual General Meeting of Shareholders.
According to the latest update, the Corporation's leaders said that as of May 31, 2025, the parent company's electricity output was 12.121 billion kWh, reaching 93.35% of the plan assigned by the Ministry of Industry and Trade for the first 5 months of 2025 and exceeding 23.05% of EVN's plan.
The generators ensure availability and adequate reserve of coal, gas and oil for power production in 2025, especially ready to mobilize during the peak period of the 2025 dry season.
The hydropower plants operate optimally according to the water flow, ensuring environmental flow and water supply for downstream areas. At the same time, proactively deploy disaster prevention and search and rescue work in 2025 according to the plan, strictly complying with the inter-reservoir operation process.
Estimated implementation in the first 5 months of the year, revenue reached VND18,770 billion, completing 43.8% of the plan. Profit excluding revaluation exchange rate difference reached VND470 billion, completing 76.8% of the plan.
Currently, the exchange rate difference revenue of power plants that has not been paid in the period of 2019-2024 is about VND5,395 billion. In the plan for next year, the Corporation is working with EVN to propose partial payment of the above exchange rate difference revenue.
Many positive changes in investment work
According to the leader of EVNGENCO3, in 2024, construction investment work will have many positive changes, the Corporation continues to aim for green and clean energy investment.
Specifically, the Corporation seeks cooperation opportunities in liquefied petroleum gas - LNG for the operation of gas turbine power plants; floating solar power plants on hydroelectric reservoirs; expanded hydroelectric projects; flexible power plants ICE Ninh Binh, converting biomass fuels and increasing the life and environmental friendliness of the plant.
In 2025, the Corporation will spend VND5,319 billion to repay the principal and VND278.1 billion for net investment. According to the Board of Directors, the enterprise has restructured part of the loan for the Mong Duong 1 Power Plant project (USD81.5 million) with domestic commercial loans, contributing to reducing financial costs in the previous year.
Of the more than VND278 billion invested this year, EVNGENCO3 plans to spend VND 218 billion on production and business and VND60 billion on new power source investment procedures, including implementing investor selection procedures and surveying, preparing and reviewing FS and TKKT documents.
The projects that the Corporation plans to invest in during the 2025-2029 period with a total capacity of 305 MW include: Buon Kuop Lake Floating Solar Power Project (50MW), Srepok 3 Lake Floating Solar Power Project (50MW), Buon Kuop Hydropower Expansion Project (140MW) and Srepok 3 Hydropower Expansion Project (110MW) have all been included in the adjusted Power Plan VIII. In addition, EVNGENCO3 also plans to cooperate with partners in investing in a portfolio of more than 6,105 MW.
To create development resources and supplement investment capital for projects, EVNGENCO3 will develop a restructuring project for the period 2026 - 2030 according to the plan to issue shares to increase charter capital.
At the end of 2024, the State Capital Management Committee at Enterprises completed the approval of the actual value of the state capital portion at the time of official conversion into a joint stock company of the parent company - Power Generation Corporation 3.
On February 18, 2025, Power Generation Corporation 3 signed the Minutes of handover of the equitized enterprise to a joint stock company, completing the equitization process of EVNGENCO3.
EVNGENCO3's PGV shares have been listed on the Ho Chi Minh City Stock Exchange (HoSE) since the beginning of 2022. With the current share price at VND19,100, EVNGENCO3's market capitalization is approximately VND21,500 billion.
At the meeting, all contents were approved with a high consensus rate. The General Meeting of Shareholders also approved the results of the election of additional members of the Board of Directors and members of the Supervisory Board.
In which, Mr. Ho Anh Tuan, Head of EVN Planning Department, became a member of the Board of Directors of EVNGENCO3 to replace Mr. Nguyen Minh Khoa.
Mr. Nguyen Van Dong, specialist of EVN's internal audit and financial supervision department, assumed the position of member of the Supervisory Board to replace Ms. Vu Hai Ngoc.
N.Nga
Source: VITIC/Tinnhanhchungkhoan