Thanh Thanh Ceramic reports significant Q3 loss amid revenue decline

Thanh Thanh Ceramic Joint Stock Company (TTC) announced a significant downturn in its financial performance for Q3 2025, reporting an after-tax loss of VND 6,516,688,454. This represents a decrease of 438.09% compared to Q3 2024, when the company recorded an after-tax profit of VND 1,487,538,685. Net revenue for Q3 2025 also fell by 14.88% to VND 39,771,720,911 from VND 46,723,958,945 in Q3 2024.

The company attributed the decline to several factors, including fierce price competition and a downturn in the real estate market, leading to difficult sales of brick products. Economic deflation and under-capacity production further compounded the challenges. Operational adjustments due to the relocation policy of Bien Hoa 1 Industrial Park forced the company to cease production from July 1, leading to employee layoffs and a severance allowance provision of VND 1,636,446,250.

Additionally, Thanh Thanh Ceramic had to sell off inventory at reduced prices to facilitate the relocation. The pre-tax profit for Q3 2025 decreased by 350.47% compared to Q3 2024, reflecting the combined impact of reduced revenue, increased operational costs, and one-off expenses related to the relocation.