VNECO1 reports significant Q3 2025 loss due to rising expenses

VNECO1 Electricity Construction JSC announced a significant net loss after tax of VND 1,419,365,788 for Q3 2025, a stark contrast to the loss of VND 300,226,039 in Q3 2024. This deeper loss is primarily attributed to a substantial increase in financial and administrative costs.

Financial expenses surged to VND 184,442,200 in Q3 2025 from a negative VND 368,897,720 in Q3 2024, an increase of VND 553,339,920. This was largely due to the revaluation of the company's investment in MAS shares amidst stock market fluctuations. Administrative expenses also rose significantly by VND 826,845,759, reaching VND 1,328,861,431 in Q3 2025, mainly due to increased provisions for doubtful debts.

Despite the overall loss, gross profit from sales and services improved from a loss of VND 152,864,005 in Q3 2024 to a profit of VND 36,764,619 in Q3 2025, a positive change of VND 189,628,624. This improvement reflects revenue recognition from completed and handed-over projects during the period. However, this was not enough to offset the increase in financial and administrative costs.