Petrovietnam named most profitable firm in 2024
The Vietnam Oil and Gas Group (PetroVietnam) continues topping the PROFIT500 list, which names the 500 most profitable enterprises in Vietnam in 2024.
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| Oil and gas extraction at Bach Ho field. (Source: VNA) |
This is the sixth consecutive year the group has secured its leading position, affirming its operation efficacy over the past years with sound financial health, and flexible management capacity recognised by reputable domestic and international organisations.
Petrovietnam maintained stable and effective operations during January-July as most of its production and financial criteria exceeded the set plans by 4.4-75%, and were better than the results recorded in the same time last year.
During the seven-month span, the group’s total revenue was estimated at 567.4 trillion VND (over 23 billion USD), 31% higher than the set target and up 14% year-on-year. It contributed 84.6 trillion VND to the state budget, surpassing the plan by 54%, and up 8% against the same time last year. Meanwhile, its profit before tax was 29.6 trillion VND, exceeding the goal by 75%.
Other firms in the top ten most profitable list are military-run telecom service provider Viettel, Samsung Electronics Vietnam Thai Nguyen, Vietcombank, BIDV, MBBank, Agribank, VietinBank, Techcombank, and Petrovietnam Exploration Production Corporation.
Several subsidiaries of Petrovietnam were also named in the list, including Petrovietnam Gas Joint Stock Corporation (PV Gas) at 12th place, Binh Son Refining and Petrochemical JSC 19th, Petrovietnam Transportation Corporation 85th, and Petrovietnam Power Corporation 90th.
Launched by the Vietnam Report and the online newspaper Vietnamnet, the PROFIT500 list has recognised the contributions to the nation made by leading corporations over the past eight years, helping introduce and promote the Vietnamese brands among the domestic and international business community, and investors.
A ceremony to announce and honour the firms will be held in Hanoi in October.
(Source: VNA)
