08/07/2024 06:40

PV GAS Deputy General Director Nguyen Cong Luan presented a commitment to sponsor the construction of Nguyen Xuan On High School, Dien Chau District, Nghe An Province. (Photo: PV GAS).

(PLVN) - One of the five core areas of operation of the Vietnam Oil and Gas Group (Petrovietnam) is the gas industry, of which the Vietnam Gas Corporation (PV GAS) is the "leading" enterprise of the Vietnamese gas industry.

Efficient production, sustainable finance

Over the years, PV GAS has always been in the group of enterprises with good and stable profits, highly appreciated by domestic and international organizations. In the period of 2019 - 2023, PV GAS's total pre-tax profit reached over 69,000 billion VND, meaning an annual profit of over 10,000 billion VND. Notably, PV GAS maintains a very high annual cash dividend rate of over 30%, which very few enterprises can do.

PV GAS's total assets as of December 31, 2023 reached nearly VND 87.8 trillion, an increase of 6% compared to its total assets as of December 31, 2022. The average growth rate of total assets in the period 2013 - 2023 reached 6%. This is a large growth rate for a company with large total assets like PV GAS.

In 2023, PV GAS' total revenue will reach about 116 trillion VND (one of the few Vietnamese enterprises with revenue of over 100 trillion VND); Total consolidated revenue will be over 92 trillion VND, exceeding the plan by 21%; Pre-tax and after-tax profits will reach over 14.6 and 11.7 trillion VND respectively, exceeding the plan by 79 - 80%; Contributing to the state budget over 6.4 trillion VND. With the above results, PV GAS has contributed over 10% of Petrovietnam's revenue and over 25% of Petrovietnam's profit in 2023; being one of 3 enterprises in Petrovietnam with revenue of over 100 trillion VND.

Entering 2024, in just the first 6 months of the year, PV GAS has reached its profit target for the year. Specifically, in the first 6 months of this year, PV GAS recorded VND 53,367 billion in net revenue, with after-tax profit reaching VND 5,960 billion. Meanwhile, for the whole year of 2024, PV GAS plans to have consolidated revenue of VND 70,176 billion and after-tax profit of VND 5,798 billion. Thus, after the first half of the year, the Corporation has achieved 76% of its revenue target and exceeded the annual profit plan by 3%.

As of June 30, 2024, PV GAS's total assets reached VND95,167 billion, an increase of 8% compared to the figure at the beginning of the year. The largest proportion in the asset structure is cash and bank deposits with VND43,919 billion. In the first half of this year, PV GAS received nearly VND831 billion in interest on deposits and loans.

In early August, PV GAS was honored at the Announcement Ceremony of the Top 50 Prestigious and Effective Public Companies in 2024. Notably, PV GAS ranked 6th out of 27 enterprises with a capitalization of over 1 billion USD (GAS reached 6.7 billion USD). "PV GAS being honored in the Top 50 Prestigious and Effective Public Companies is an affirmation and honor for enterprises with a solid financial foundation, achieving remarkable achievements in providing products and services to customers and creating an impressive image in the eyes of the public and investors", said a representative of PV GAS.

To continue to maintain its brand and reputation, PV GAS is currently continuing to develop in new directions. Notably, this unit is aiming for green and sustainable development. According to Mr. Nguyen Thanh Binh, Chairman of PV GAS, PV GAS's new key products in the future will be liquefied natural gas (LNG), processed and deep-processed products from gas as well as green energy products such as hydrogen and ammonia. "We will actively participate in the global energy transition trend, developing diverse service activities," said Mr. Binh.

Corporate Social Responsibility

Not only is PV GAS a financially strong and good business enterprise, it is also known as a socially responsible enterprise. Specifically, throughout its 33 years of development, PV GAS has fostered noble human values ​​through meaningful social security (SS) activities. In 2023 alone, over VND 105 billion was used by PV GAS for SS activities, of which education and healthcare are two key areas with contributions worth over VND 80 billion and over VND 20 billion, respectively.

Since the beginning of 2024, PV GAS has continued to implement many social security programs. Specifically, in early July, during a working trip to Yen Bai with a delegation from the Ministry of Home Affairs, representatives of Petrovietnam and PV GAS pledged to sponsor Yen Binh district with 12 billion VND to build Cam Nhan High School and Secondary School No. 2, Cam Nhan Commune, Yen Binh District. Also in July, PV GAS coordinated with the People's Committee of Nghe An Province to organize a signing ceremony of a sponsorship agreement to build a 3-storey school building with 30 classrooms for Nguyen Xuan On High School...

PV GAS Deputy General Director Nguyen Cong Luan affirmed that the signing of the sponsorship agreement to build a new educational facility for Nguyen Xuan On School once again demonstrated the spirit of solidarity and effective support between the Oil and Gas industry, including PV GAS, and disadvantaged localities, bringing common benefits to the community, demonstrating the culture and affection of the oil and gas industry.