AsemconnectVietnam - Vietnam Container Corporation (Viconship, ticker VSC - HOSE) has just announced its Q1 2026 business results report with revenue growth of over 26%.

Specifically, in Q1 2026, Viconship recorded revenue of VND860.57 billion, an increase of 26.2% compared to the same period last year; pre-tax profit reached VND93.6 billion; after-tax profit reached VND69.65 billion, a decrease of 37.4% compared to the same period last year. The gross profit margin improved from 33.4% to 38.5%.
During the period, gross profit increased by 45.7% compared to the same period last year, corresponding to an increase of VND104.01 billion, reaching VND331.51 billion. Financial revenue increased by 114.3%, equivalent to an increase of VND22.26 billion, reaching VND41.73 billion; financial expenses surged by 813.9%, equivalent to an increase of VND 192.17 billion, reaching VND215.78 billion; profit from joint ventures and associated companies was recorded at VND71.97 billion compared to no profit recorded in the same period; selling and administrative expenses increased by 36.5%, equivalent to an increase of VND36.43 billion, reaching VND136.18 billion, and other activities showed insignificant fluctuations.
Viconship further explained that the increase in financial expenses was mainly due to an increase in interest expenses from VND35.8 billion to VND120.86 billion; Other financial expenses increased to VND107.03 billion...
In 2026, Viconship plans to achieve revenue of VND3,250 billion and pre-tax profit of VND750 billion. Thus, by the end of Q1/2026, Viconship had completed 12.5% of its annual pre-tax profit target.
Regarding asset size, as of March 31, 2026, Viconship's total assets increased by 8.9% compared to the beginning of the year, equivalent to an increase of VND1,158.4 billion, reaching VND14,121.3 billion. Of this, the main assets recorded are VND4,836.6 billion in fixed assets, accounting for 34.25% of total assets; and VND3,086.5 billion in long-term financial investments, accounting for 21.86% of total assets. VND2,046.4 billion in cash and short-term financial investments, accounting for 14.5% of total assets; VND1,608.2 billion in short-term receivables, accounting for 11.4% of total assets; VND1,489.6 billion in other long-term assets, accounting for 10.55% of total assets; and other items.
In addition, regarding capital sources, as of the end of the first quarter, total short-term and long-term borrowings and convertible bonds increased by 9.6% compared to the beginning of the year, an increase of VND518.2 billion, reaching VND5,893.43 billion, equivalent to 87.1% of total equity. Of this, short-term borrowings amounted to VND2,528.48 billion, while the remaining VND3,364.95 billion was long-term borrowings and convertible bonds.
N.Nga
Source: VITIC/Tinnhanhchungkhoan