Gelex Electric recently announced its second quarter 2025 consolidated net revenue reached 6.51 trillion VND, a 22.6% increase compared to the same period in 2024. Consolidated pre-tax profit reached 722 billion VND, a 7% year-on-year increase. Net sales revenue reached 6.51 trillion VND, with semi-finished goods sales accounting for 98% of that, reaching 6.395 trillion VND, a 25.4% increase compared to the same period last year.

Gelex Electric's business results for the first 6 months of the year. Photo: Gelex Electric

Gelex Electric's business results for the first 6 months of the year. Photo: Gelex Electric

For the first six months of 2025, the company’s revenue reached 11.791 trillion VND, a 30.6% increase, or 2.7 trillion VND more than the same period last year. Pre-tax profit reached 1.33 trillion VND, a 61.8% year-on-year increase.

Excluding the one-off profit from divestment in energy projects in the first half of last year, pre-tax profit from the core electrical equipment business increased by 2.5 times in the first six months of this year compared to the same period last year.

Electrical cable production at the Cadivi factory. Photo: Gelex Electric

Electrical cable production at the Cadivi factory. Photo: Gelex Electric

A company representative attributed these positive results to a strategy focused on core business activities and flexible sales policies adapted to market conditions. The company also emphasized digital transformation, new product research and development, and market expansion to enhance competitiveness and optimize costs.

As of 30/6/2025, Gelex Electric's total assets reached 14.36 trillion VND, an 11.3% increase, or 1.457 trillion VND more than at the beginning of the year. Cash and cash equivalents reached 944 billion VND, a 36.5% increase, or 253 billion VND more.

The company also attracted international capital, raising over 41 million USD from financial institutions for mergers and acquisitions in its core business. Financial indicators like debt ratio and debt-to-equity ratio remained safe compared to the same period last year.

On the stock market, GEE shares closed at 105,900 VND on 15/7, bringing the market capitalization to nearly 38.8 trillion VND, approximately 1.5 billion USD, placing it among the billion-dollar capitalized companies on the exchange.

Gelex Electric plans to hold an Extraordinary General Meeting of Shareholders on 15/8 to adjust its profit and dividend plan for 2025.

Minh Ngoc