GELEX sets record revenue target of nearly $1.5 billion for 2025

March 06, 2025 | 10:45
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GELEX Group JSC is aiming to achieve nearly VND38 trillion ($1.5 billion) in revenue for 2025, reflecting double-digit growth compared to 2024.

This would mark a record revenue level for the group after more than three decades of development.

On March 5, GELEX announced the agenda for its 2025 AGM. As a leading investment group in Vietnam, the impressive figures presented by GELEX have drawn significant attention in the financial sector.

According to the proposal submitted by the Board of Directors, the group is targeting total consolidated revenue of VND37.6 trillion ($1.47 billion) for 2025, representing an increase of 11.5 per cent compared to 2024. This will be the highest revenue ever recorded for GELEX in more than thirty years of growth.

The target for consolidated pre-tax profit in 2025 has been set at VND3.04 trillion ($119.2 million), a decrease of 15 per cent compared to 2024. The decline in pre-tax profit was attributed to the absence of an exceptional gain from divestments in renewable energy projects amounting to nearly VND1 trillion ($39.2 million). A dividend of 10 per cent is anticipated for 2025.

GELEX sets record revenue target of nearly $1.5 billion for 2025
Chart: GELEX revenue from 2015 to 2025. Unit: billion VND

In 2024, GELEX's consolidated net revenue reached VND33.8 trillion ($1.3 billion), with pre-tax profit at VND3.6 trillion ($141 million), increasing by 12.5 per cent and 158.6 per cent, respectively, compared to 2023. This performance exceeded the targets set for 2024 by 4.5 per cent and 88.1 per cent.

The substantial profit increase in 2024 was driven by strong growth in core segments such as electrical equipment, building materials, industrial parks, and real estate. Financial gains rose significantly from divestments in energy projects and reduced borrowing costs.

With business performance surging in 2024, GELEX has proposed a dividend for 2024 of 10 per cent, corresponding to VND858 billion ($33.6 million). This includes a cash dividend of 5 per cent, amounting to VND429 billion ($16.8 million), and a stock dividend of 5 per cent, also totalling VND429 billion ($16.8 million). This serves as a great incentive for long-term shareholders accompanying the company.

New investment opportunities

The GELEX board recognised that in 2025, Vietnam is expected to continue positive growth, with a GDP target of 8 per cent set by the National Assembly, alongside a commitment to promote institutional reforms, policies, and the implementation of robust fiscal and monetary measures. However, risks from inflation, exchange rate fluctuations, global economic conditions, and the widespread threat of trade wars still loom.

Amid a macroeconomic landscape that presents both opportunities and challenges, GELEX is focusing its resources on systematically and effectively managing significant and critical investments, allocating appropriate resources to prepare for investments in complex industrial park infrastructure projects, digital infrastructure, and areas that positively impact society.

GELEX sets record revenue target of nearly $1.5 billion for 2025
The industrial park and real estate segments make a significant contribution to GELEX's business results

For its business segments, the group will continue to maintain stable growth in the manufacturing of electrical equipment and building materials, while boosting exports and researching new high-tech, environmentally friendly products. Additionally, it will invest in renewable energy projects within its development portfolio. In the clean water segment, GELEX will ensure the timely completion of phase 2 of the Song Da clean water plant, and is exploring investment in clean water supply projects.

With a strong wave of foreign direct investment (FDI) flowing into Vietnam, GELEX and its member companies are actively developing land reserves in various localities, building smart industrial parks and eco-industrial urban integrated cities aimed at sustainable development.

GELEX sets record revenue target of nearly $1.5 billion for 2025
The electrical equipment segment is expected to continue its stable growth

In 2025, GELEX will invest in new high-potential business segments that are aligned with its system, while developing appropriate management strategies post-investment. Alongside this, the company will maintain its strategy of developing a partner ecosystem, collaborating with top partners both domestically and internationally to co-invest in new segments.

Additionally, the company will continue to manage its existing investments; research, select, evaluate, and realise potential capital investment and merger and acquisition (M&A) opportunities, and build appropriate management strategies following M&A activities.

“Growth - Efficiency - Sustainable Development” is the overarching goal guiding the activities of the group and its member companies in 2025.

The AGM for GELEX Group will officially take place on March 27 in Hanoi.

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By Thanh Van

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