Gemadept Group (GMD) Q2 2025 earnings summary

Executive summary

• H1 2025 net revenue was VND 2,770,677,739,218 versus VND 2,156,437,966,607; strong core-business growth offset the loss of prior-year profit from the Nam Hai Port capital transfer.

• Consolidated profit after tax was VND 1,131,775,875,175 versus VND 1,101,082,728,302; parent-company profit after tax was VND 848,236,864,657 versus VND 889,771,947,153.

• Interim financial statements received a review conclusion stating that nothing came to the auditors’ attention indicating they were not fairly presented in all material respects.

Financial highlights

• Gross profit was VND 1,283,613,314,736 versus VND 951,402,174,792; net operating profit was VND 1,378,701,295,090 versus VND 1,167,686,713,186.

• Financial income was VND 91,517,551,504 versus VND 383,735,882,370; prior-year financial income included VND 325,022,433,051 from transferring long-term financial investments.

• Other profit was a loss of VND 118,152,185,338 versus profit of VND 60,045,889,063; other expenses included VND 110,780,951,871 of inefficient investment costs.

• Operating cash flow was VND 1,090,272,860,986 versus VND 550,672,346,466; net cash flow for the period was negative VND 216,975,502,943.

Segment performance

• Port-operation external revenue was VND 2,447,088,479,874 versus VND 1,828,330,661,442; segment financial performance was VND 973,161,569,809 versus VND 727,923,784,414.

• Logistics-services external revenue was VND 323,127,994,236 versus VND 327,544,300,855; segment financial performance was VND 84,706,499,051 versus VND 68,702,052,980.

• Rubber-tree planting recorded negative segment financial performance of VND 37,250,619,191 versus negative VND 36,205,811,227; trading real estate segment performance was VND 461,265,108.

• Equity-accounted gains from joint ventures and associates were VND 470,041,949,207 versus VND 281,244,552,673.