AsemconnectVietnam - Vietnam Shipping Joint Stock Company (Vosco, code VOS - HOSE) has just announced its consolidated business performance report for the first 7 months of 2025.

Specifically, the Company recorded net revenue of VND1,457.2 billion, down 58.2% over the same period last year. Cost of goods sold also decreased by more than 57% to VND1,445.5 billion, causing the Company's gross profit to decrease by nearly 90%, to VND11.7 billion.
This period, VOS's financial revenue increased by 8.5%, to VND36.3 billion. However, financial expenses increased by nearly 3.7 times, to VND17.9 billion; interest expenses alone skyrocketed to VND12.6 billion, compared to VND64.9 million in the same period last year.
The positive point is that selling expenses and administrative expenses decreased by 12.7% and 18.6% respectively compared to the same period, to VND35.2 billion and VND39.2 billion. Along with that, other income also decreased sharply by nearly 75%, to only VND99.5 billion, due to a decrease in revenue from liquidation and sale of fixed assets.
At the end of 7 months, VOS's after-tax profit only reached VND53.6 billion, equal to 1/7 of the profit in the same period last year (VND381.4 billion).
Previously, in the first half of 2025, Vosco reported a loss after tax of VND43.6 billion, while in the same period it made a profit of VND358.4 billion, the lowest profit since 2020. The reason is that the Company has returned the Dai An oil tanker and Dai Hung chemical tanker since March, while the dry cargo market fluctuated strongly, Supramax freight rates sometimes dropped to 2,500 - 3,000 USD/day, causing many ships to be grounded. The product oil tanker market is also less active, along with many ships having to go on drydock and undergo long-term periodic repairs, causing revenue to decline while still incurring ship day costs. In another development, the Company has just changed the last registration date to pay dividends for 2024 from September 12 to September 19. The payment date is still October 10, with a dividend payout ratio of 11% in cash. With 140 million shares in circulation, Vosco needs to spend VND154 billion to pay dividends to shareholders. Of which, Vietnam National Shipping Lines (VIMC) - Vosco's parent company holding 51% of capital, will receive more than VND78 billion from this payment.
N.Nga
Source: VITIC/Tinnhanhchungkhoan