Petrovietnam Gas (GAS) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 reached VND 135.2 trillion, up 30.5% year-over-year, driven by strong sales of LPG and dry gas.

• Net profit after tax for 2025 was VND 11.57 trillion, a 9.8% increase from 2024.

• Q4 2025 net profit after tax dropped 32% year-over-year due to higher provisions for doubtful debts and increased allocations to the Science and Technology Development Fund.

Financial highlights

• Gross profit for 2025 was VND 16.94 trillion, up from VND 13.17 trillion in 2024.

• Cost of goods sold rose to VND 118.2 trillion, reflecting higher sales volumes.

• Financial income reached VND 1.28 trillion, while financial expenses were VND 1.58 trillion.

• Total assets as of 31/12/2025 were VND 93.53 trillion, up from VND 81.85 trillion at the start of the year.

• Owners' equity increased to VND 67.65 trillion.

Outlook and guidance

• The company completed a charter capital increase to VND 24,129.5 billion in September 2025, supporting future expansion.

• Continued focus on gas and gas product distribution, with expansion in LNG and infrastructure projects.