AsemconnectVietnam - Phuoc An Port Investment and Exploitation Joint Stock Company (PAP - UPCoM) recorded a loss of VND126 billion in the third quarter, with a cumulative loss of VND359 billion in the first 9 months of 2026, bringing the total cumulative loss to VND895 billion, equivalent to 25.07% of charter capital.

In the third quarter of 2026, Phuoc An Port recorded revenue of VND233 billion, an increase of 441.8% compared to the same period; after-tax profit recorded a loss of VND126 billion compared to a loss of VND131.3 billion in the same period.
During the period, profit recorded VND 20.8 billion compared to a loss of VND52.5 billion in the same period; financial revenue decreased by 31.5%, equivalent to a decrease of VND4 billion to VND8.8 billion. Financial expenses increased by 47.3%, equivalent to an increase of VND35.4 billion, reaching VND110.3 billion; selling and administrative expenses increased by 163.7%, equivalent to an increase of VND27.3 billion, reaching VND43.99 billion.
It is known that from the fourth quarter of 2024, Phuoc An Port began recording revenue when the first phase of the Phuoc An Port project was put into operation. However, since then, the company has continuously operated below cost and has incurred losses for eight consecutive quarters. Specifically, in Q4/2024, the loss was VND24 billion; in Q1/2025, VND123 billion; in Q2/2025, VND125 billion; in Q3/2025, VND131 billion; in Q4/2025, VND126 billion; in Q1/2026, an additional VND122.7 billion loss; and in Q2/2026, VND110.3 billion.
Cumulatively, in the first nine months of 2026, Phuoc An Port recorded revenue of VND480.6 billion, an increase of 567.5% compared to the same period; after-tax profit recorded a loss of VND359 billion compared to a loss of VND379 billion in the same period.
With continued losses in the first nine months, as of September 30, 2026, the total accumulated loss of Phuoc An Port reached VND895 billion, equivalent to 25.07% of its total charter capital.
Besides operating losses, in the first nine months of 2026, Phuoc An Port recorded a negative operating cash flow of VND5,959.5 billion compared to a positive VND1,015.2 billion in the same period. Furthermore, during the same period, the investment cash flow was negative VND126.9 billion and the financing cash flow was positive VND5,795.4 billion, mainly due to increased borrowing and additional share issuance.
As of September 30, 2026, total assets increased by 53% compared to the beginning of the year, equivalent to an increase of VND5,929.6 billion, reaching VND17,125.5 billion. Of this, the main assets were VND6,738.8 billion in fixed assets, accounting for 39.35% of total assets; and VND6,668.5 billion in long-term work-in-progress assets, accounting for 38.94% of total assets. Short-term receivables amounted to VND2.188 billion, accounting for 12.78% of total assets…
In addition, regarding capital sources, as of the end of the third quarter, total short-term and long-term borrowings increased by 69.7% compared to the beginning of the year, corresponding to an increase of VND3,894.2 billion, reaching VND9,480.8 billion and equivalent to 287.9% of total equity.
Source: VITIC/Bao Tai chinh – Dau tu