AsemconnectVietnam - Petrosetco (PET - HOSE) recorded a profit of VND101.24 billion in the second quarter, bringing the cumulative profit for the first half of 2026 to VND202.08 billion, achieving 63.5% of its annual plan.

In the second quarter of 2026, Petrosetco recorded revenue of VND6,967.82 billion, an increase of 47.6% compared to the same period last year; after-tax profit reached VND101.24 billion, an increase of 85.3% compared to the same period last year. The gross profit margin improved from 4.3% to 6.2%.
During the period, gross profit increased by 111.3% year-on-year, equivalent to an increase of VND225.93 billion, reaching VND428.99 billion; financial revenue decreased by 37.6%, equivalent to a decrease of VND43.23 billion, to VND71.73 billion; financial expenses increased by 15.4%, equivalent to an increase of VND12.49 billion, to VND93.52 billion; selling and administrative expenses increased by 67%, equivalent to an increase of VND110 billion, to VND274.17 billion; and other activities showed insignificant fluctuations.
For the first half of 2026, Petrosetco recorded revenue of VND13,096.9 billion, an increase of 50% year-on-year; after-tax profit reached VND202.08 billion, an increase of 97.4% year-on-year.
In 2026, Petrosetco approved a plan for total revenue of VND23,000 billion, a 5% increase compared to the same period, and projected after-tax profit of VND318.4 billion, a 9% decrease compared to 2025.
Thus, by the end of the first half of 2026, Petrosetco had completed 63.5% of its annual plan.
Regarding cash flow, in the first half of 2026, Petrosetco recorded a negative cash flow of VND1,050.36 billion compared to a negative VND252.7 billion in the same period. Meanwhile, investment cash flow was positive VND1,530.8 billion and financing cash flow was negative VND275.7 billion.
In 2025, Petrosetco also recorded a record negative cash flow of VND1,388.86 billion.
In terms of asset size, as of June 30, 2026, Petrosetco's total assets increased by 3.9% compared to the beginning of the year, equivalent to an increase of VND527.4 billion, reaching VND13,944.9 billion. Of this, the main assets recorded were VND5,975.6 billion in short-term receivables, accounting for 42.85% of total assets; VND4,623.7 billion in cash and short-term financial investments, accounting for 33.16% of total assets; VND1,976.8 billion in inventory, accounting for 14.18% of total assets; and other items.
Notably, the securities investment portfolio in the first half of 2026 increased by 38.2% compared to the beginning of the year, equivalent to an increase of VND127.2 billion, reaching VND459.8 billion, and provisions also increased from VND22.4 billion to VND33.7 billion. However, Petrosetco did not disclose the specific stocks listed in its securities portfolio as of June 30th.
As of December 31st, 2025, Petrosetco disclosed that it had invested VND332.6 billion in trading securities. This included VND134.3 billion in VIX shares, VND45.95 billion in VPB shares, VND25.98 billion in GEX shares, VND1.85 billion in EIB shares, and several other investments.
Furthermore, regarding its long-term financial investment portfolio, Petrosetco disclosed investments of VND5.1 billion in Gelex North Saigon Infrastructure Company Limited 1, VND4.1 billion in North Saigon Infrastructure Company Limited 2, and VND4.1 billion in Gelex West City Infrastructure Company Limited.
Reportedly, at its 2026 Annual General Meeting of Shareholders, Petrosetco approved an investment plan with a total budget of VND2,200 billion, including a 51% stake in Gelex North Saigon Infrastructure Company Limited 1, a 41% stake in Gelex North Saigon Infrastructure Investment Company Limited 2, and a 41% stake in Gelex West City Infrastructure Company Limited.
These three companies are joint ventures between Petrosetco, GELEX Infrastructure Joint Stock Company (GEL), and Viconship Industrial and Real Estate Infrastructure Company Limited, aiming to implement wastewater treatment plant projects under the BT (Build-Transfer) model, with a total investment of nearly VND37,000 billion for the three projects.
Furthermore, regarding capital sources, as of the end of the second quarter, total short-term debt decreased by 3.5% compared to the beginning of the year, equivalent to a reduction of VND250 billion, to VND6,805.2 billion, representing 240.6% of total equity. Of this, the average debt-to-equity ratio for the industry in 2025 is 114%.
Source: VITIC/Bao Tai chinh – Dau tu