VIC Reports Record 2025 Profit, Doubles to VND 11.064T, Forecasts 2026 Surge

Overview

Vingroup (VIC) reported record 2025 financial results, with consolidated net profit doubling year-on-year to over VND 11.064 trillion and revenue surging 75% to VND 331.874 trillion. The conglomerate also issued ambitious 2026 forecasts, targeting net profit of VND 25 trillion and revenue of VND 450 trillion, while its workforce expanded significantly to 104,253 employees.

Key Facts

• 2025 consolidated revenue: VND 331.874 trillion, up 75% year-on-year.
• 2025 consolidated net profit: over VND 11.064 trillion, doubling from 2024 and a record high.
• 2026 revenue forecast: VND 450 trillion, approximately 36% growth from 2025.
• 2026 net profit forecast: VND 25 trillion, a 2.2x increase from 2025.
• Total employees as of end-2025: 104,253, an increase of nearly 37,000 from end-2024.
• Average monthly salary per employee: VND 24.4 million.
• Dividend policy: No dividend payout for 2025; all profits retained for reinvestment.

What Happened

According to Vingroup’s 2025 annual report, the company achieved a historic financial performance. Consolidated revenue reached VND 331.874 trillion, a 75% increase from the previous year, while net profit more than doubled to over VND 11.064 trillion, marking the highest level since the group’s inception. The company attributed part of its operational scale to a significant expansion in its workforce, which grew by nearly 37,000 employees to 104,253 by the end of 2025, making it the largest employer among Vietnamese companies.

Looking ahead, Vingroup has set aggressive targets for 2026. It projects revenue of VND 450 trillion, representing approximately 36% growth from 2025, and net profit of VND 25 trillion, which would be a 2.2-fold increase. The company stated it will not pay dividends for 2025, instead retaining all profits to reinvest in business operations. This reinvestment strategy aligns with its continued expansion, including workforce growth and competitive compensation, with an average monthly salary of VND 24.4 million per employee.

Market Context

VIC shares on the HOSE exchange closed at VND 164 on April 14, 2026, up 2.81% with a volume of 2.977 million shares. The positive price movement coincides with the release of these strong 2025 results and optimistic 2026 guidance. As a major conglomerate with interests spanning real estate, automotive, and technology, VIC’s performance is often viewed as a bellwether for the Vietnamese economy, particularly in the real estate sector where it is classified.

Strategic Significance

The record profits and ambitious forecasts underscore Vingroup’s aggressive growth strategy, fueled by reinvestment rather than shareholder payouts. The substantial increase in workforce to over 104,000 employees, coupled with above-average compensation, signals a strategic push to scale operations and attract talent across its diversified businesses. This approach positions VIC to capitalize on expansion in core areas like real estate (e.g., Happy Home projects) and emerging sectors, potentially enhancing its market dominance and operational efficiency.

What to Watch

• Release of Q1 2026 financial results to assess progress toward the full-year forecast.
• Updates on capital allocation and specific reinvestment projects funded by retained earnings.
• Employee growth trends and any changes in average compensation in subsequent reports.
• Market share movements in key sectors like real estate and automotive relative to competitors.
• Any regulatory or macroeconomic developments impacting large conglomerates in Vietnam.