AsemconnectVietnam - PetroVietnam Technical Services Corporation (PTSC, code PVS) said that in 2025, PTSC will continue to increase investment, so profits will remain stable.

At a recent meeting with the PetroVietnam Technical Services Corporation (Petrovietnam), PTSC said that in 2024, PTSC is estimated to achieve consolidated revenue of about VND24,000 billion, consolidated profit before tax is estimated at about VND1,100 billion, respectively exceeding 54.8% and 28.2% compared to the plan assigned by the Group's Board of Directors.
Except for the oil and gas mechanical services sector, which had revenue equivalent to last year, all other areas of PTSC's operations have grown, especially the offshore renewable energy sector, which grew by 32% compared to last year.
Regarding the 2025 plan, PTSC expects a total revenue target of VND22,500 billion, an increase of about 40% compared to the 2024 plan, however, compared to the expected results in 2024, this target is about 6.25% lower. PTSC leaders also said that PTSC will continue to focus on increasing investment, so profits will remain stable.
In early December, PVN proposed that the Prime Minister support PVS in implementing an offshore wind power project for export to Singapore, considering this a pilot project, focusing on economic cooperation between the two countries.
Assessing PTSC's prospects, Vietcap Securities recently commented that PVS has signed a contract worth USD2.5 billion, including USD1.5 billion from offshore wind power and USD1 billion from the Block B project. Fourth quarter profit is expected to improve thanks to the advance payment from the Lac Da Vang project at the end of September 2024 and the commencement of the EPCI 1 package of Block B in early September.
In another development, PTSC has just had a change in senior leadership when it announced the decision to appoint Mr. Tran Ho Bac, Deputy General Director to the position of General Director to replace Mr. Le Manh Cuong, for a term of 5 years from December 6, 2024. Mr. Bac was born in 1978, in Nam Dinh with a professional qualification of Mechanical Engineer, Master of Business Administration.
N.Nga
Source: VITIC/Tinnhanhchungkhoan