Vimeco's Q3 after-tax profit tumbles over 10% on plunging revenue

Vimeco Joint Stock Company reported a significant decline in after-tax profit for the third quarter of 2025. After-tax profit decreased by more than 10% compared to the same period in 2024, falling to VND 980,561,712 for Q3 2025 from VND 2,300,671,331 in Q3 2024. The primary reason for this decline was a nearly 50% reduction in net revenue from sales of merchandise and services, which dropped from VND 270,387,732,872 in Q3 2024 to VND 142,869,055,797 in Q3 2025.

For the accumulated nine-month period ending September 30, 2025, Vimeco's after-tax profit was VND 1,698,303,138, down from VND 3,146,249,082 in the same period last year. Net revenue for the nine months also decreased from VND 742,244,825,053 in 2024 to VND 486,902,320,943 in 2025. The company's total assets as of September 30, 2025, stood at VND 1,239,529,128,068, a decrease from VND 1,414,612,515,419 at the beginning of the year.

The company's board of directors affirmed that no material events subsequent to the balance sheet date affected Vimeco's financial position or operations. Vimeco operates in construction, real estate trading, industrial production, and early childhood education.