IDICO Corp. reports significant profit decline in first half of 2025

IDICO Corporation – JSC announced its reviewed financial statements for the first six months of 2025, revealing a significant drop in profit after tax. The consolidated profit after tax decreased by VND548,097m (from VND1,381,045m in 2024 to VND832,948m in 2025), while the separate profit after tax saw a reduction of VND415,069m (from VND923,679m in 2024 to VND508,610m in 2025). This decline is primarily attributed to fluctuations in revenue from industrial park infrastructure lease contracts, which qualified for one-time revenue recognition in the prior year.

The company's audited report, dated August 29, 225, was prepared by Ernst & Young Vietnam Limited, confirming compliance with Vietnamese Accounting Standards. During this period, IDICO Corporation – JSC undertook several key activities, including an additional capital contribution of VND86,000,000,000 to IDICO-INCO 10, increasing its ownership to 99.18%. An Employee Stock Ownership Plan (ESOP) was also implemented by UDICO, leading to a slight decrease in IDICO's ownership in UDICO from 66.93% to 64.45%.

These statements, along with an explanation for the changes, have been disclosed on the company's website and submitted to the Hanoi Stock Exchange. The company affirmed that no transactions valued at or above 35% of total assets occurred, and the auditor's report did not include any qualified opinions.