Song Da No. 11 reports Q3 profit drop amid revenue decline

Song Da No. 11 Joint Stock Company announced an 11.1% decrease in its Q3 2025 after-tax profit, totaling 7,632,907,710 dong, down from 8,585,505,266 dong in Q3 2024. This decline is primarily attributed to a substantial 64.4% reduction in sales and service revenue, which decreased by 338.2 billion dong. Additionally, financial expenses for the period rose compared to the same period last year.

The company’s combined financial statements for the first nine months of 2025 show that total accounting profit before tax was 33,163,845,090 dong. Net revenue from goods sold and services rendered for this period was 961,742,181,255 dong, a decrease from 1,453,281,156,095 dong in the same period of 2024.

Despite the reduced revenue, the company’s capital structure remained stable, with total assets at 1,864,794,046,080 dong and total liabilities at 1,137,286,524,945 dong as of September 30, 2025. This indicates that while operational performance has been challenging, the company maintains a solid financial position.