By continuing to hold the leading position in PROFIT500 in 2024, Petrovietnam has topped this ranking for the 6th consecutive time. This result once again affirms Petrovietnam's operational efficiency in recent years, with a healthy financial situation and flexible management capacity, objectively assessed and recognized by many prestigious organizations at home and abroad.
In the first 7 months of 2024, Petrovietnam's production and business activities continued to be maintained stably and effectively. Most of the Group's production targets exceeded the plan by 4.4 - 30.4%, an increase of 7 - 15.2% over the same period in 2023. The Group's financial targets also exceeded the 7-month plan by 31 - 75% and grew strongly compared to the same period in 2023. Total revenue of the Group is estimated at 567.4 trillion VND, exceeding 31% of the 7-month plan, up 14% over the same period; Budget payment of the Group is estimated at 84.6 trillion VND, exceeding 54% of the 7-month plan, up 8% over the same period; Consolidated pre-tax profit of the Group is estimated at 29.6 trillion VND, exceeding 75% of the 7-month plan.
According to the PROFIT500 Ranking in 2024, the Top 10 most profitable enterprises in Vietnam this year include: Vietnam Oil and Gas Group (Petrovietnam), Military Industry and Telecommunications Group (Viettel), Samsung Electronics Vietnam Thai Nguyen Company Limited, Vietcombank, BIDV, MBBank, Agribank, VietinBank, Techcombank, PVEP.
Along with Petrovietnam and PVEP, the 2024 PROFIT500 Ranking also recognizes the presence of many other Oil and Gas enterprises such as: PetroVietnam Gas Joint Stock Corporation (PV GAS, ranked 12th); Binh Son Refining and Petrochemical Joint Stock Company (BSR, ranked 19th); PetroVietnam Transportation Joint Stock Corporation (PVTrans, ranked 85th); PetroVietnam Power Corporation (PV Power, ranked 90th); PetroVietnam Technical Services Joint Stock Corporation (PTSC, ranked 97th); PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC, ranked 98th); PVI Joint Stock Company (ranked 100th); PetroVietnam Oil Corporation (PVOIL); PVI Insurance Corporation; PTSC Marine Mechanical Services Company Limited (PTSC M&C); PetroVietnam General Services Joint Stock Corporation (PETROSETCO);…
After 8 years of publication to seek and honor businesses operating effectively, with the ability to generate high and sustainable profits, the PROFIT500 Ranking has duly recognized the contributions of leading businesses - the pillars of the country's development; contributing to introducing and elevating the brand of Vietnamese businesses to the business community, domestic and international investors.
According to Vietnam Repot, in terms of the average ROA of enterprises in the PROFIT500 Ranking in 2024, the FDI sector continues to affirm its leading position when it increases to 14.5% (up 0.8% compared to 2023). This is the only sector that recorded a slight improvement while the other two sectors witnessed a decline in financial performance. In terms of return on equity (ROE), the overall picture reflects difficulties in maintaining capital efficiency, as all three economic sectors recorded a decline.
The PROFIT500 ranking is based on the results of independent research and evaluation according to international standards of Vietnam Report to recognize and honor the worthy achievements of enterprises with effective and sustainable production and business activities, with good profitability in the context of many recent difficulties and challenges.
Enterprises in PROFIT500 demonstrate effective management capacity, business strategy and competitiveness in the market with profit being the most intuitive and transparent measure of business performance, creating trust for shareholders and attracting investment. This recognition not only affirms the real value of the enterprise but also promotes healthy competition, encouraging other enterprises to improve and innovate. In addition, the honor also creates strong motivation for employees and management, enterprises, encouraging them to maintain work efficiency. At the same time, enterprises with good profits often make significant contributions to society and the economy through tax payment and charitable activities. More importantly, the ranking and honor also enhance the reputation and brand of the enterprise, thereby maintaining the leading position and expanding the market of the enterprise.
The announcement and honoring ceremony of PROFIT500 enterprises is expected to be held in October 2024, in Hanoi.
| By continuing to hold the leading position in PROFIT500 in 2024, Petrovietnam has led this ranking for the 6th consecutive time . |
Mai Phuong
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