AsemconnectVietnam - Quy Nhon Port Joint Stock Company (code QNP) has just announced its consolidated financial statements for the third quarter and the first 9 months of 2025, in which the enterprise has completed 64% of its profit target for the whole year.

In the third quarter of this year, Quy Nhon Port recorded VND303 billion in net revenue, up nearly 3% compared to the beginning of the year; but profit after tax increased by 38.4%, reaching over VND35 billion.
In particular, the cost of goods sold also increased slightly to VND236.7 billion, helping the enterprise's gross profit reach VND66 billion, up 5.2% over the same period last year. Financial revenue also increased by 15%, to over VND4 billion.
Regarding expenses, Quy Nhon Port spent VND4.3 billion on financial expenses, VND4.8 billion on sales expenses and nearly VND18 billion on business management expenses, down 24%, up 6.7% and down 18% respectively compared to the same period last year.
According to the explanation, the Company said the reason for the increase in profits was due to a 30% reduction in land rent in 2024 recorded in the third quarter of 2025, helping to reduce costs by more than VND8.1 billion. In addition, the Company also recorded undistributed profit after tax in 2024 from its subsidiary of more than VND5.5 billion.
Accumulated in the first 9 months of 2025, QNP recorded net revenue of VND833.6 billion and profit after tax of VND100.4 billion, down 7.6% in revenue and slightly down in profit compared to the same period.
According to the 2025 production and business plan approved by the General Meeting of Shareholders, the Company targets port throughput of 13.22 million tons, consolidated revenue of VND 1,390 billion, up 17.7% and consolidated pre-tax profit of VND 195 billion, up 19.6% compared to the results of 2024.
With pre-tax profit of VND 125.3 billion in the first 9 months, the Company has completed 64% of the annual profit target.
As of the end of the third quarter of 2025, QNP's total assets were VND1,390 billion, a slight increase compared to the beginning of the year. Of which, cash and cash equivalents reached VND38 billion, down 59%; investments held to maturity increased by 15% to VND307.3 billion. In addition, inventories decreased slightly to VND23.2 billion.
On the other side of the balance sheet, corporate debt is at nearly VND500 billion, up 12.6% compared to the beginning of the year, with total short-term and long-term debt at VND260 billion, accounting for more than half of the total debt.
N.Nga
Source: VITIC/Tinnhanhchungkhoan