Petrolimex Chemicals Reports First Loss Since 2008
Petrolimex Chemicals (PET) reported its first net loss since 2008 in Q4 2025, totaling VNĐ85.2 billion (US$3.3 million). This poor performance was primarily due to a significant surge in operational costs, particularly management expenses, and a 6.2% drop in revenue. While full-year 2025 revenue grew, the Q4 losses pushed annual net profit down 68.5%. Despite the setback, investor interest remains high due to the company's leading position in the asphalt market.
Petrolimex Chemicals (PET) has announced its first net loss in 17 years, recording VNĐ85.2 billion (US$3.3 million) for the fourth quarter of 2025. This marks the first time the company has posted a loss since 2008. The primary reason for this poor financial outcome was a dramatic increase in operational costs, with management expenses surging to nearly VNĐ60.2 billion in Q4 2025 from VNĐ6.9 billion in the previous year. Additionally, selling expenses rose by almost 10%, and revenue declined by 6.2% year-on-year to nearly VNĐ2 trillion. The consolidated results were largely driven by Petrolimex Petrochemical's specific loss of nearly VNĐ116.9 billion in the final quarter. For the full year 2025, Petrolimex Petrochemical's total revenue increased by 12.2% to over VNĐ7.77 trillion, primarily due to strong contributions from its asphalt segment. However, the heavy losses incurred in the fourth quarter significantly impacted the annual performance, causing net profit after tax for the year to plummet by 68.5% to approximately VNĐ13.6 billion. Despite these profitability challenges, Petrolimex Petrochemical's shares continue to attract investors. This sustained interest stems from the company's leading market position in the asphalt sector, which is expected to benefit from Việt Nam's ongoing public investment projects. The company's market capitalization is estimated at over VNĐ2.5 trillion, and its stock has recently seen notable gains, though it experienced a correction after reaching a peak of VNĐ37,100 per share.
