Vicem But Son Cement reports Q3 profit turnaround on cost reductions

Vicem But Son Cement Joint Stock Company (HNX:BTS) released its Q3 2025 financial statements, revealing a profit after corporate income tax of VND 10.070 bn. This marks an increase of VND 36.296 bn compared to the VND 26.226 bn loss reported in Q3 2024. The turnaround is primarily attributed to a 17.59% decrease in net revenue from goods sold and services rendered, equivalent to VND 111.402 bn, which was outpaced by even larger reductions in various costs.

Cost of sales decreased by 22.54% (VND 140.255 bn), financial expenses by 7.37% (VND 1.316 bn), selling expenses by 6.52% (VND 1.166 bn), and general and administration expenses by 17.85% (VND 3.212 bn). These proportional decreases in costs, exceeding the revenue decline, successfully moved the company from a loss in the prior year's comparable period to a profit in the current quarter.

The company also reported total assets of VND 3.252 trillion as of September 30, 2025, an increase from VND 3.094 trillion at the beginning of the year. Liabilities totaled VND 2.191 trillion, while owner’s equity stood at VND 1.060 trillion.