Petrovietnam Gas (GAS) Q1 2025 earnings summary

Executive summary

• Net revenue for Q1 2025 reached VND 24.34 trillion, up 7.5% year-over-year, driven by higher LPG consumption and increased LNG prices.

• Net profit after tax for Q1 2025 was VND 2.71 trillion, a 10% increase compared to Q1 2024, mainly due to a 9% rise in LPG sales volume and a 53% increase in LNG prices.

• All core business activities operated normally, with no significant disruptions reported.

Financial highlights

• Gross profit for Q1 2025 was VND 3.75 trillion, up from VND 3.37 trillion in Q1 2024.

• Financial income decreased to VND 336 billion from VND 445 billion year-over-year, while financial expenses dropped to VND 111 billion from VND 205 billion.

• Selling expenses were VND 383 billion, and general administration expenses were VND 239 billion.

• Earnings per share (EPS) for Q1 2025 was VND 1,156.

Outlook and guidance

• The company expects continued growth in LPG and LNG segments, supported by stable operations and favorable market prices.