How will Vietnam's cement industry businesses perform in the first quarter of 2025?

In the first quarter of 2025, many enterprises in the cement industry recorded an increase in net revenue, but still reported a net loss of tens of billions of dong.

Bim Son Cement reports increased net loss

According to the consolidated business results report for the first quarter of 2025, Bim Son Cement Joint Stock Company (Stock code: BCC, HNX floor) recorded net revenue of nearly VND 771.6 billion, an increase of 11.9% over the same period last year, of which revenue mainly came from cement and Clinker trading activities of almost VND 768.5 billion.

After deducting the cost of goods sold of more than VND 746.8 billion, gross profit reached nearly VND 24.8 billion, down 17.6% over the same period.

During the period, financial expenses decreased by 17.9% compared to the first quarter of 2024, at nearly VND 8.3 billion; sales expenses also decreased by 8.3%, down to more than VND 42.1 billion. On the contrary, business management expenses increased by 25.1%, to more than VND 30.7 billion.

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As a result, Bim Son Cement reported a net loss after tax of nearly VND60.4 billion, an increase of 21.5% over the same period last year.

As of March 31, 2025, Bim Son Cement's total assets increased slightly by nearly VND 50 billion compared to the beginning of the year, to over VND 3,461.3 billion. Of which, 72.7% of total assets were fixed assets, at over VND 2,517 billion; inventories were nearly VND 339.6 billion, down 23.2% and accounting for 9.8% of total assets.

On the other side of the balance sheet, total liabilities are at over VND1,744.9 billion, up 6.7% compared to the beginning of the year. Of which, loans and financial leasing debts are nearly VND764.7 billion, accounting for 43.8% of total debts; short-term payables to suppliers are over VND720.1 billion, accounting for 41.3% of total debts.

Vicem But Son and Vicem Ha Tien reported improved net losses.

According to the business performance report for the first quarter of 2025, Vicem Ha Tien Cement Joint Stock Company (Stock code: HT1, HoSE) recorded a net revenue increase of 6.2% over the same period last year, reaching over VND 1,586.8 billion. After deducting the cost of goods sold, gross profit reached over VND 135 billion, up 30.6%.

During the period, the enterprise did not record other income, while in the same period last year, this income was more than 10.2 billion VND; revenue from financial activities was more than 3.5 billion VND, 6.3 times higher than the same period.

Business management costs increased by 6.2% to over VND70.3 billion; the remaining sales costs and financial costs also increased slightly compared to the same period.

After deducting taxes and fees, the company reported a net loss of nearly VND9.2 billion, an improvement of 62.8% over the same period last year..

As of March 31, 2025, Vicem Ha Tien's total assets decreased slightly by 2.1% compared to the beginning of the year, down to nearly VND 8,049.8 billion. Of which, cash and cash equivalents were nearly VND 657.1 billion; inventories were more than VND 614 billion, and unfinished construction costs were more than VND 543.4 billion.

On the other side of the balance sheet, total liabilities are over VND3,183.6 billion, down slightly by 4.9% compared to the beginning of the year. Of which, short-term loans and financial leasing debts are over VND1,506.2 billion, accounting for 47.3% of the total debt.

Another Vicem 'family' enterprise, Vicem But Son Joint Stock Company (Stock code: BTS, HNX floor), recorded net revenue in the first quarter of 2025 reaching nearly VND 613.9 billion, an increase of 19.2% over the same period last year.

After deducting the cost of goods sold of nearly VND 591.3 billion, the company's gross profit was more than VND 22.6 billion, while in the same period last year, this item reported a loss of more than VND 812 million.

During the period, financial expenses recorded a decrease of 17.3% compared to the same period, down to more than 17.2 billion VND; sales expenses also decreased from nearly 23.1 billion VND to 20.6 billion VND. On the contrary, the company's financial expenses increased slightly by nearly 1.2 billion VND, up to more than 21.7 billion VND.

In addition, Vicem But Son also recorded other income of more than 9.6 billion VND, down 10.3% over the same period.

As a result, Vicem But Son reported a net loss after tax of more than VND 28.5 billion, an improvement of more than 48.6% compared to the loss of nearly VND 55.5 billion in the first quarter of 2024.

As of March 31, 2025, the total assets of the enterprise increased by 4.7% compared to the beginning of the year, to more than VND 3,239.8 billion. Of which, fixed assets accounted for 66.6% of total assets, at more than VND 2,158 billion; inventories were nearly VND 521.7 billion; long-term unfinished assets were more than VND 136.1 billion.

Also, as of the end of the first quarter of 2025, total debt payable was nearly VND 2,202 billion, up 8.6% compared to the beginning of the year. Of which, short-term and long-term debt was more than VND 1,195.4 billion, accounting for 54.3% of total debt.

Yen Binh Cement reports a strong increase in net profit

Besides cement enterprises recording net losses in the first quarter of the year, Yen Binh Cement Joint Stock Company (Stock code: VCX, UPCoM floor) has just announced business results with relatively positive revenue and profit.

Accordingly, in the first quarter of 2025, Yen Binh Cement recorded net revenue of more than VND 201.6 billion, an increase of 10.6% over the same period last year. After deducting the cost of goods sold, gross profit reached nearly VND 14.5 billion, an increase of 9.7%.

During the period, the company recorded financial expenses of more than VND 4.6 billion, down 16.8% compared to the first quarter of 2024; sales expenses also decreased by 50%, down to more than VND 18.5 million. On the contrary, business management expenses increased by 5% over the same period.

After deducting taxes and fees, Yen Binh Cement reported a net profit after tax of more than VND5.6 billion, an increase of 39.3% over the same period last year.

In 2025, the company plans to achieve an estimated revenue of VND 877 billion and an estimated profit after tax of VND 24.1 billion. Thus, by the end of the first quarter of 2025, Yen Binh Cement has completed 23% of the revenue plan and 23.2% of the profit after tax plan.

As of March 31, 2025, Yen Binh Cement's total assets increased by 5.6% compared to the beginning of the year, to nearly VND 624.9 billion. Of which, inventories were more than VND 105.1 billion, up 43.9% and accounting for 16.8% of total assets; fixed assets were nearly VND 279.2 billion, accounting for 44.7% of total assets.

On the other side of the balance sheet, total liabilities are at nearly VND380.3 billion, up 7.9% compared to the beginning of the year. Of which, loans and financial leasing debts are nearly VND289.7 billion, accounting for 76.2% of total debts.

Yen Binh Cement was established in 2003, with its headquarters located at Group 3, Yen Binh town, Yen Binh district, Yen Bai province.

As of the end of the first quarter of 2025, the company's charter capital was VND265.3 billion, equivalent to 26.53 million VCX shares in circulation on the market. Of which, Northern Cement Trading Joint Stock Company contributed nearly VND172.1 billion, equivalent to 64.86% of Yen Binh Cement's charter capital.

(Theo antt-nguoiduatin-vn)

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