PVB – Brief – [NONRATED] – 2Q25: Full speed ahead

PVB’s revenue stood at VND232bn in 2Q25 (+262% yoy, +119% qoq), as PVB is operating at full capacity. Thus, 6M25 revenue fulfilled 62% of BOD’s 2025 plan. Gross profit came in at VND35bn (+171% yoy), translating to a gross margin of 15.1%. Administrative expenses continued to rise to VND12bn (+115% yoy, +28% qoq). NPAT reached VND20bn (+204% yoy, +389% qoq). 6M25 NPAT accordingly hit VND24bn, fulfilling 59% of full-year plan.