AsemconnectVietnam - BSR achieved a pre-tax profit of VND4,541 billion (exceeding the 2025 plan by 262%) thanks to optimizing capacity by 120% and diversifying products.

Binh Son Refining and Petrochemical Joint Stock Company (BSR) announced positive business results amidst a challenging business environment. Specifically, Brent crude oil prices recorded a nearly 20% drop, from USD79/barrel to approximately USD64/barrel at the end of the year. Competition from refining and petrochemical complexes in the region continued to impact the price structure of output products, while the high USD/VND exchange rate directly pressured the cost of importing crude oil.
To cope with these dual challenges, BSR implemented synchronized solutions, focusing on managing volatility risks, combined with innovation and business restructuring. In its production operations, the Dung Quat Refinery maintained safe and stable operation at an average capacity of 120%.
This operational efficiency contributed to an annual production output of 7.9 million tons, equivalent to 108% of the planned target. Total annual revenue reached VND142,298 billion, completing 102% of the planned target. Notably, pre-tax profit reached VND4,541 billion, exceeding the initial target by 262%. This significant difference was achieved by effectively utilizing "windows of opportunity" when crude oil prices fell but product prices remained stable or did not decrease correspondingly.
In addition, solutions to optimize cash flow and expand the list of deposit banks were implemented to increase financial revenue. Cost control was also strengthened, with savings reaching VND828 billion, exceeding the plan by 35%, while bringing the plant's self-consumption and loss rate down to 7.2%.
Besides financial indicators, product portfolio diversification and market expansion contributed significantly. The development of new products such as high-value plastic resins, sustainable aviation fuel (SAF), sustainable marine fuel (SMFO), and E10 RON 95 gasoline contributed approximately VND1,920 billion to total revenue, a 34% increase compared to the previous year.
International business activities, focusing on DO oil, FO oil, and RFCC Naphtha products, were also boosted, generating revenue of approximately VND2,050 billion, a 37% increase compared to 2024. The projected contribution to the state budget in 2025 is VND14,250 billion, equivalent to 110% of the management plan.
N.Nga
Source: VITIC/Tinnhanhchungkhoan