Vinamilk's profit decreased by 28%, cash is nearly a billion USD

At Vietnam Dairy Products Joint Stock Company - Vinamilk (VNM), the amount of cash, cash equivalents and bank deposits reached VND 25,708 billion (approximately USD 1 billion) at the end of the first quarter of 2025.

VNM's total assets are VND55,013 billion. Proportionally, cash accounts for nearly 47% of the total assets of this dairy company.

Thanks to this large amount of money, Vinamilk recorded more than 340 billion VND in interest from bank deposits in the first quarter, equivalent to nearly 3.8 billion VND per day.

Regarding core business, the report recorded VNM's net revenue at VND12,934 billion, down more than 8% compared to the same period last year. This decrease mainly came from the domestic market.

After deducting expenses and taxes, Vietnam's largest milk producer reported a net profit of VND1,587 billion, down 28% compared to the first quarter of 2024. Notably, this is the lowest quarterly profit of the "giant" in the dairy industry since the second quarter of 2015.

Another company that is also famous on the stock exchange for its "cash-rich" status is Vietnam Gas Corporation - PV GAS (GAS).

After a sharp drop to only 33,000 billion VND at the end of 2024, this oil and gas giant quickly increased by about 4,000 billion VND after 3 months. Accordingly, GAS has nearly 37,000 billion VND, mainly deposited in banks to earn interest.

In the first quarter of 2025, GAS earned VND262 billion in interest from deposits and loans, down 40% year-on-year. Although financial revenue decreased, net revenue increased by 10%, so profit after tax in the first quarter still reached VND2,762 billion, up 8.6% year-on-year.

On GAS's balance sheet, total assets amount to VND82,020 billion, but short-term receivables are also nearly VND17,000 billion.

Many "tycoons" own large amounts of cash

At the end of last year, Vingroup surpassed PV Gas to become the “cash king” on the stock market with nearly VND48,000 billion in cash, deposits and cash equivalents. After the first 3 months of the year, this “mountain of money” at Vingroup decreased slightly, to nearly VND38,300 billion.

According to the report, Vingroup's total consolidated net revenue in the first quarter of 2025 reached VND84,053 billion, an increase of 287% compared to the first quarter of 2024 thanks to positive growth from the fields of industrial production and real estate development and trading.

Consolidated profit after tax reached VND 2,243 billion, up 68% over the same period. As of March 31, 2025, Vingroup's total assets reached VND 823,270 billion.

Although the financial report for the first quarter of 2025 has not been announced, Viettel International Investment Joint Stock Corporation (VGI) has impressed with a 60% increase in cash in 2024.

After one year, this Viettel enterprise increased from 23,000 billion VND to nearly 36,700 billion VND at the end of the year.

In the group of "cash-rich" businesses, we cannot fail to mention Mobile World (MWG).

At the end of the first quarter of 2025, MWG's financial report recorded nearly VND 42,000 billion in short-term loans, bond investments, bank deposits and other interest-bearing investments. This is a record high for MWG to date.

With the above large cash balance, MWG recorded revenue from financial activities of up to VND 693 billion, an increase of 18% over the same period last year.

Most of the above figure comes from interest on deposits, loans and bonds with 636 billion VND, the remaining revenue from payment discounts is nearly 56 billion VND...

According to the financial report for the first quarter of this year, MWG reported pre-tax profit of VND1,934 billion, up 60% over the same period. Revenue from finance contributed 36% of total profit.