G-Automobile reports sharp decline in semi-annual profit, shifts to loss

G-Automobile Joint Stock Company has announced its reviewed semi-annual financial statements for 2025. The company’s consolidated profit after tax for the first six months of 2025 decreased by VND 13,756m, representing a 397% reduction compared to the same period in 2024, shifting from a profit to a loss. This downturn is attributed to challenging market conditions in the luxury car segment, competitive pricing, increased financial expenses, and decreased other income.

The company reported consolidated net revenue of VND 1,109bn for the first six months of 2025, down 3.8% from VND 1,152bn in the corresponding period of 2024. Gross profit also declined by 9% to VND 94.9bn. Despite these challenges, G-Automobile’s separate financial statements show a profit after tax of VND 10.75bn for the first six months of 2025, a 29.7% increase from VND 36m in 2024, driven by a strong increase in financial revenue, including VND 9.9bn from dividends and profits and VND 790m from the transfer of investments.

The report also highlights significant transactions, including the acquisition of 86% of An Do Trading Investment Joint Stock Company shares on June 30, 2025, leading to VND 5bn in goodwill. The company also disposed of its entire 100% ownership in Mineral Import Export Joint Stock Company, recognizing a gain of VND 790m in financial income.