AsemconnectVietnam - Vietnam Dairy Products Joint Stock Company (Vinamilk - VNM) achieved a consolidated revenue of VND17,045 billion in the fourth quarter of 2025, setting a new record high, a 10.1% increase compared to the same period last year.

This result brings Vinamilk's consolidated revenue for 2025 to VND63,724 billion, a 3.1% increase compared to the same period last year, the highest in the company's history.
International business operations continue to play a leading role in driving growth, while domestic business has gradually recovered and regained momentum. Vinamilk's consolidated domestic net revenue increased by 7.8% compared to the same period last year, reaching VND13,846 billion. The cumulative revenue for the whole year reached VND50,964 billion.
The domestic market contributed 81.3% of consolidated net revenue in the fourth quarter, returning to growth momentum. Meanwhile, in the international business segment, consolidated foreign net revenue increased by 21% year-on-year to VND3,188 billion. The cumulative figure for the whole year reached VND12,682 billion, a 15.5% increase compared to the previous year.
Exports remain the main growth driver, with net revenue in the fourth quarter reaching VND1,579 billion, a 26% increase year-on-year, establishing a streak of 10 consecutive quarters of positive growth. In 2025, exports are projected to reach VND7,105 billion, a 25.4% increase compared to 2024. Cumulatively over the years, Vinamilk has exported to 65 markets worldwide, achieving US$3.7 billion in export revenue. Vinamilk's growth in export markets is driven by the acceleration of product and technology innovation and consumer outreach models.
The export product portfolio is being developed flexibly and refined to suit the specific characteristics of each market, while increasing the proportion of high-value products. Simultaneously, trade promotion is being intensified to enhance Vinamilk's brand image and position in the international market. The consolidated gross profit margin in Q4 2025 increased by 30 basis points year-on-year to 40.4%, mainly due to expanded revenue and stable input material prices.
For the full year 2025, Vinamilk's consolidated gross profit margin reached 41.2%, only 20 basis points lower than the same period last year, mainly due to the impact of Q1. Operational efficiency continued to improve, contributing positively to the business results in Q4 2025.
Consolidated revenue recorded a growth of 10.1% year-on-year, while selling expenses decreased by 4.9%. Vinamilk's consolidated pre-tax profit (PTP) and consolidated after-tax profit (ATP) for the fourth quarter reached VND3,477 billion and VND2,827 billion respectively, representing increases of 31.5% and 31.7% compared to the same period last year.
For the full year 2025, consolidated PTP is projected to reach VND11,650 billion, showing slight growth compared to the same period last year. Consolidated ATP for 2025 is projected to reach VND9,414 billion, a slight decrease compared to 2024 due to the impact of the first quarter; however, this decrease has been significantly mitigated by positive results in subsequent quarters. Earnings per share (EPS) for 2025 are projected at VND4,028.
N.Nga
Source: VITIC/Tinnhanhchungkhoan