AsemconnectVietnam - In 2026, Vicostone has defined its operational strategy as not focusing on short-term scale growth, but prioritizing strengthening internal capabilities, rebalancing the growth structure, and enhancing resilience, creating a foundation for the next development cycle.

2025: Flexibility in the Face of Volatility, Steadfast Goals
2025 concludes against a backdrop of continued global economic uncertainty: prolonged geopolitical conflicts, increased trade protectionism, and tightening monetary policies. Global economic growth fluctuates between 2.8% (UN) and 3.3% (IMF), reflecting uneven trends across regions and posing numerous risks. In the US, Vicostone's largest market, the government shutdown significantly impacted spending and investment, coupled with persistent price pressures that slowed the economy, resulting in a 2.2% annual growth rate, down from 2.8% in 2024. The real estate and construction markets in major markets such as the US, Canada, and Europe faced difficulties due to high prices, increased construction material and labor costs, reducing consumer demand and investor profit margins, directly impacting the surface materials industry. In addition to macroeconomic factors, Vicostone continued to face fierce competition from manufacturers in Vietnam and the Asia-Pacific region.
Despite these fluctuations, in 2025, the company recorded net revenue of VND4,128.89 billion and pre-tax profit of VND823.35 billion, corresponding to 87.50% and 85.37% of the planned targets, respectively. Although business results have not met initial expectations, efforts in management, operational optimization, and market strategy adjustments have helped the Company maintain stability and gradually adapt to the new context.
The Company's pre-tax profit margin/net revenue in 2025 reached 20.16%, demonstrating effectiveness in maintaining production, expanding markets, managing risks, and optimizing costs;
The debt-to-total assets ratio and the debt-to-equity ratio in 2025 are 0.11 and 0.12 respectively, significantly lower than in previous years, confirming the Company's ability to repay current debts and ensuring no risk to loans even if interest rates increase dramatically;
The value of inventory at the end of 2025 decreased sharply by VND228.30 billion compared to the same period last year, demonstrating effective resource allocation and inventory optimization, contributing to improved working capital efficiency.
Consistent with its sustainable development orientation based on ESG principles, Vicostone maintained compliance and contributed VND292.30 billion to the State budget, a 31% increase compared to 2024; ensuring stable income and employment for its workers. Strengthening emission control solutions, saving energy, and efficiently using raw materials... In particular, accelerating the shift of products towards new standards for safety and health, and leveraging R&D capabilities, the company officially launched the Vicostone Eco Surfaces product line, initially supplying 36 Eco products to the Australian and California markets, meeting the quartz crystal content requirements of these markets, affirming an important step in the development of green, environmentally friendly, and safe products.
2026: Cautious, Proactive Shift and Adaptation
According to experts, geopolitical conflicts are no longer short-term but indicators of a volatile "new world order," with long-term and unpredictable consequences. Furthermore, factors such as high inflation, fierce competition, and risks from protectionist trade policies continue to put pressure on international businesses, including Vicostone. The company recognizes that the global business environment is shifting to a cycle of structural uncertainty, with the US market likely to remain sluggish due to high interest rates and a lack of clear recovery in consumer demand.
In this context, Vicostone has determined that its operational strategy will not focus on short-term scale growth, but rather prioritize strengthening internal capabilities, rebalancing the growth structure, and enhancing resilience, creating a foundation for the next development cycle. The company continues to manage its production and business operations cautiously, proactively managing risks, and being ready to adapt to seize opportunities. The General Meeting unanimously approved the 2026 plan with:
Projected net revenue: VND4,186 billion (an increase of 1.4% compared to 2025)
Expected pre-tax profit: VND744 billion (down 10.6% compared to 2025)
The Company's 2026 action plan focuses on the following objectives:
Vicostone aims for comprehensive development across multiple pillars to enhance competitiveness and sustainable growth. The company will continue to promote the development and commercialization of its next-generation product line (Eco Surfaces) to meet the increasingly stringent environmental and health standards of developed markets, while expanding its market, diversifying distribution channels, and increasing its presence in potential areas. Simultaneously, Vicostone will strengthen its supply chain, leverage domestic advantages, and proactively secure over 95% of its input materials to control and optimize costs and mitigate the impact of global supply chain disruptions. In terms of management, the company will enhance comprehensive risk management, operate in a lean manner, apply technology, and improve the efficiency of the entire system; Promoting corporate culture and developing human resources are the foundations for long-term growth. Based on this, Vicostone deeply integrates ESG principles into its development strategy, promoting green innovation, the circular economy, and a roadmap towards NetZero 2050, thereby affirming its pioneering position in the field of advanced materials.
With a cautious, proactive, and flexible management approach, Vicostone believes that sustainable growth will not only be measured by stable financial indicators but also by the "happiness index" of its employees, the quality and resilience of the business in the face of increasingly unpredictable fluctuations in the global economy.
N.Nga
Source: VITIC/Tinnhanhchungkhoan