According to the recently released consolidated financial report, Gelex's net revenue reached 10,722 billion VND, up 35.4% year-on-year. This result reflects the enterprise's double-digit growth momentum amidst positive macroeconomic signals. The electrical equipment segment remained the primary growth driver, contributing 7,061 billion VND in revenue, a 38.2% increase, and accounting for nearly 66% of the system's total net revenue. Market expansion and increased sales volume of key product groups were the main forces driving this traditional business segment.

Gelex booth at an electrical equipment exhibition. *Photo: Gelex*

Beyond electrical equipment, the construction materials segment achieved 2,103 billion VND in revenue, growing by 47.6%. The utility infrastructure sector generated 266 billion VND, increasing by nearly 45%, thanks to the gradual stable operation of the Song Da clean water project phase 2. The industrial park and real estate segment contributed 1,262 billion VND in revenue, maintaining a stable growth rate of 8.4%.

At the end of the first quarter, Gelex achieved 806 billion VND in pre-tax profit. The enterprise stated that this result reflects the effectiveness of implementing synchronized solutions for market expansion and optimizing operating costs. With full-year targets of 44,712 billion VND in revenue and 3,615 billion VND in profit, the group completed 24% of its revenue plan and 22% of its profit plan, respectively.

As of 31/3, Gelex's total assets reached 87,015 billion VND, an 18.4% increase compared to the beginning of the year. The enterprise's debt has shown an upward trend, reflecting the group's accelerated investment disbursement into key projects such as Gia Binh airport and large-scale infrastructure and real estate projects. Despite increasing debt for investment, the group's financial safety indicators and solvency remain under tight control. VIS Rating, a credit rating organization, recently maintained Gelex's long-term credit rating at A with a positive outlook, demonstrating the enterprise's solid financial foundation.

In the early months of this year, the group consolidated its new term management apparatus and successfully raised 200 million USD in international capital to fund long-term projects. The opening of the Fairmont Ha Noi hotel also marked a step forward for the enterprise in increasing its presence in the high-end commercial real estate segment. Gelex remains steadfast in its development strategy based on four main pillars: high-tech industry, infrastructure, real estate, and finance.

"The results achieved in the first quarter not only strengthen shareholder confidence but also create a solid foundation for us to be ready for future sustainable growth targets," a Gelex leadership representative affirmed.

Thanh Thu