Macstar Group H1 2025 revenue surges, but profit dips

Macstar Group Corporation announced a 94.35% increase in net revenue to VND 96,047,380,104 for the first six months of 2025, compared to VND 49,420,377,154 in the same period of 2024. Despite this revenue growth, profit after tax decreased by 22.30% to VND 24,023,687,436 from VND 30,919,370,121 in H1 2024. This reduction was primarily attributed to a decrease in profit from trading securities transactions, business losses from Macstar Ho Chi Minh Joint Stock Company, and profits from Macstar Coastal Container Lines Joint Stock Company.

The company's basic earnings per share decreased to VND 851 from VND 1,300 in the prior period. Macstar Group Corporation also reported a significant increase in current liabilities to VND 67,146,059,818 from VND 33,648,024,469, driven by an increase in short-term borrowings and trade payables. Cash and cash equivalents rose to VND 105,160,102,689 from VND 41,201,213,966 as of June 30, 2025, while total assets grew to VND 496,654,452,533 from VND 310,264,174,859.

Key changes in ownership capital include an increase in owner's contribution capital from VND 151,397,450,000 to VND 227,094,080,000 due to a share issuance, as approved by the 2025 Annual General Meeting of Shareholders. This issuance involved 7,569,663 shares to existing shareholders, with a plan for an additional 22,709,408 shares to be offered at VND 10,000 per share, with proceeds intended for acquiring shares, building new vessels, and supplementing working capital.