AsemconnectVietnam - The Q1/2026 results of Hoa Binh Construction Group Joint Stock Company (stock code HBC) show a clear recovery compared to Q1/2025, both at the parent company and consolidated levels.

According to the parent company's financial report, net revenue in Q1/2026 reached VND1,240.5 billion, nearly double that of the same period in 2025. This growth mainly comes from the expansion of construction activities, indicating the implementation of new projects or larger disbursements.
However, the cost of goods sold also increased correspondingly, resulting in only a moderate improvement in the gross profit margin. As a result, the parent company's net profit in Q1/2026 reached VND125.7 billion, an increase of 29.45% compared to the same period.
According to the consolidated financial report, net revenue in Q1 2026 reached approximately VND1,322.2 billion, a significant increase of 91% compared to the same period last year, reflecting the recovery in construction demand and Hoa Binh's participation in projects.
In addition to strong revenue growth, Hoa Binh recorded a sharp decrease in financial expenses, mainly due to a reduction in outstanding loans and/or interest rates. As a result, consolidated after-tax profit in Q1 2026 reached VND22.7 billion, 4.2 times higher than the same period last year.
The business picture in Q1 2026 shows that Hoa Binh has relatively improved its business results compared to the same period in 2025, with strong revenue growth, net profit from business operations turning into a clear profit in the consolidated report, controlled financial expenses, and additional support from other profit streams. However, the gross profit margin remains quite thin, and Hoa Binh still needs to make significant efforts to maintain revenue growth while improving profit margins from its core construction activities.
N.Nga
Source: VITIC/Tinnhanhchungkhoan