VGS · CTCP Ống thép Việt - Đức VG PIPE

Báo cáo tài chính gốc theo dòng/kỳ (KQKD · Cân đối · Lưu chuyển tiền tệ).

Item	2025	2024	2023	2022	2021
Revenue	7,380.0	7,352.0	7,567.8	8,490.9	6,694.1
Revenue Deductions	61.4	30.2	12.1	7.7	0.0
Net Revenue	7,318.6	7,321.9	7,555.7	8,483.2	6,683.6
Cost of Goods Sold	7,032.9	7,099.9	7,364.8	8,289.6	0.0
Gross Profit	285.7	222.0	190.9	193.6	263.1
Financial Income	35.3	1.0	61.1	1.1	0.8
Financial Expenses	18.0	20.8	36.2	35.9	-26.1
Interest Expense	17.9	20.8	36.2	35.9	-26.0
Share of Associates and Joint Ventures	43.6	10.9	-59.2	33.4	20.3
Selling Expenses	61.8	51.4	52.1	46.1	-69.0
General and Administrative Expenses	32.2	26.8	33.1	29.6	-32.7
Operating Profit	252.6	134.9	71.5	116.5	156.5
Other Income	1.9	0.2	0.9	0.6	0.0
Other Expenses	0.4	0.2	0.1	0.3	0.0
Other Profit	1.5	0.0	0.8	0.3	-0.0
Profit Before Tax	254.1	134.9	72.3	116.8	156.5
Current Income Tax Expense	37.1	25.1	14.2	16.7	-27.6
Deferred Income Tax Expense	—	0.0	0.0	0.0	0.0
Net Income	217.0	109.9	58.1	100.1	128.8
Non-controlling Interest	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	217.0	109.9	58.1	100.1	128.8
Earnings per Share	3,432.00	1,845.00	1,028.00	1,929.00	3,058.00
Diluted EPS	3,527.36	1,964.07	1,090.05	2,067.19	3,058.61

Item	2025	2024	2023	2022	2021
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	1,238.9	1,327.0	1,480.4	1,499.1	1,486.2
I. Cash and cash equivalents	60.3	135.7	162.3	192.3	55.6
1. Cash	60.3	20.7	162.3	127.3	0.0
2. Cash equivalents	—	115.0	0.0	65.0	0.0
II. Short-term financial investments	295.0	0.0	0.0	0.0	0.0
1. Available for sale securities	—	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	0.0	0.0	0.0	0.0
3. Held to maturity investments	295.0	0.0	0.0	0.0	0.0
III. Short-term receivables	344.6	643.9	878.9	873.5	801.2
1. Short-term trade accounts receivable	262.6	569.9	815.1	825.5	0.0
2. Short-term prepayments to suppliers	45.5	38.2	36.8	23.6	0.0
3. Short-term inter-company receivables	—	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other short-term receivables	62.7	60.6	51.8	45.6	0.0
7. Provision for short-term doubtful debts (*)	-26.2	-24.8	-24.8	-21.2	0.0
8. Assets awaiting resolution	—	0.0	0.0	0.0	0.0
IV. Inventories	531.4	546.2	427.5	433.2	621.5
1. Inventories	531.4	546.2	427.5	433.2	0.0
2. Provision for decline in value of inventories	—	0.0	0.0	0.0	0.0
V. Other short-term assets	7.6	1.1	11.7	0.1	7.8
1. Short-term prepayments	—	0.1	7.0	0.1	0.0
2. Value added tax to be reclaimed	7.6	1.0	4.7	0.0	0.0
3. Taxes and other receivables from state authorities	0.0	0.0	0.0	0.0	0.0
4. Government bonds	—	0.0	0.0	0.0	0.0
5. Other short-term assets	—	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,090.5	1,007.1	966.9	665.8	594.1
I. Long-term receivables	0.2	0.2	0.2	0.2	0.0
1. Long-term trade receivables	—	0.0	0.0	0.0	0.2
2. Long-term prepayments to suppliers	—	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.2	0.2	0.2	0.2	0.0
7. Provision for long-term doubtful debts	—	0.0	0.0	0.0	0.0
II. Fixed assets	104.7	107.5	126.0	140.5	147.1
1. Tangible fixed assets	90.8	93.2	109.4	123.6	129.8
- Cost	481.9	477.0	482.8	495.4	0.0
- Accumulated depreciation	-391.1	-383.8	-373.4	-371.9	0.0
2. Financial leased fixed assets	—	0.0	16.6	0.0	0.0
- Cost	—	0.0	22.4	0.0	0.0
- Accumulated depreciation	—	0.0	-5.8	0.0	0.0
3. Intangible fixed assets	13.9	14.4	0.0	17.0	17.3
- Cost	20.5	20.5	0.0	22.4	0.0
- Accumulated depreciation	-6.6	-6.2	0.0	-5.4	0.0
III. Investment properties	—	0.0	0.0	0.0	0.0
- Cost	—	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	809.2	763.7	707.8	335.3	291.4
1. Long-term production in progress	—	0.0	0.0	0.0	0.0
2. Construction in progress	809.2	763.7	707.8	335.3	0.0
V. Long-term financial investments	168.1	124.5	113.6	172.8	139.5
1. Investments in subsidiaries	—	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	168.1	124.5	113.6	172.8	0.0
3. Investments in other entities	—	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	0.0	0.0	0.0	0.0
6. Other long-term investments	—	0.0	0.0	0.0	0.0
VI. Other long-term assets	8.3	11.2	19.4	17.0	0.0
1. Long-term prepayments	8.3	11.2	19.4	17.0	0.0
2. Deferred income tax assets	—	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	0.0	0.0	0.0	0.0
4. Other long-term assets	—	0.0	0.0	0.0	15.9
5. Goodwill	—	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	2,329.4	2,334.1	2,447.3	2,164.9	2,080.3
A. LIABILITIES (300=210+330)	1,033.7	1,249.5	1,465.9	1,238.3	1,247.3
I. Short -term liabilities	825.6	1,043.8	1,258.7	1,235.8	1,121.3
1. Short-term trade accounts payable	128.8	393.2	523.9	530.4	547.2
2. Short-term advances from customers	1.5	0.6	10.5	0.4	1.1
3. Taxes and other payables to state authorities	17.2	18.9	9.5	9.7	0.0
4. Payable to employees	35.5	13.0	13.0	17.9	0.0
5. Short-term acrrued expenses	0.9	0.7	0.7	0.2	0.0
6. Short-term inter-company payables	—	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	1.0	2.1	2.0	1.6	1.5
9. Other short-term payables	0.7	1.4	0.9	0.6	0.0
10. Short-term borrowings and financial leases	571.9	580.6	668.9	644.8	510.7
11. Provision for short-term liabilities	31.4	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	36.7	33.2	29.2	30.1	0.0
13. Price stabilization fund	—	0.0	0.0	0.0	0.0
14. Government bonds	—	0.0	0.0	0.0	0.0
II. Long-term liabilities	208.1	205.7	207.2	2.5	126.0
1. Long-term trade payables	—	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	0.0	0.0	0.0	0.0
7. Other long-term liabilities	208.1	3.9	3.4	2.5	0.0
8. Long-term borrowings and financial leases	—	201.8	203.8	0.0	7.3
9. Convertible bonds	—	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	0.0	0.0	0.0	0.0
13. Fund for technology development	—	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,295.7	1,084.6	981.4	926.6	833.0
I. Owner's equity	1,295.7	1,084.6	981.4	926.6	0.0
1. Owner's capital	615.2	559.3	532.7	484.3	833.0
- Common stock with voting right	615,241,550,000.00	559,321,260,000.00	532,696,700,000.00	484,279,210,000.00	421,115,890,000.00
- Preferred stock	—	0.00	0.00	0.00	0.00
2. Share premium	69.8	69.8	69.8	69.8	69.8
3. Convertible bond option	—	0.0	0.0	0.0	0.0
4. Other capital of owners	48.0	48.0	48.0	0.0	0.0
5. Treasury shares	—	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	0.0	0.0	0.0	0.0
8. Investment and development fund	59.8	56.5	51.5	49.6	0.0
9. Fund to support corporate restructuring	—	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	11.6	11.6	11.6	11.6	0.0
11. Undistributed earnings after tax	491.2	339.2	267.6	311.2	285.4
- Accumulated retained earning at the end of the previous period	283.3	241.0	214.8	222.3	172.4
- Undistributed earnings in this period	207.8	98.3	52.8	88.9	113.0
12. Reserves for investment in construction	—	0.0	0.0	0.0	0.0
13. Minority's interest	0.2	0.1	0.1	0.1	0.1
14. Financial reserves	—	0.0	0.0	0.0	0.0
II. Other resources and funds	—	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	2,329.4	2,334.1	2,447.3	2,164.9	2,080.3

Item	2025	2024	2023	2022	2021
Profit Before Tax	254.1	134.9	72.3	116.8	156.5
Depreciation of Fixed Assets and Investment Property	12.0	12.6	14.6	14.8	16.1
Provision (Increase)/Reversal	32.8	-0.0	3.5	3.2	0.0
FX Gain/Loss from Revaluation of Monetary Items	-0.0	-0.0	-0.0	-0.0	0.0
Gain/Loss from Investment Activities	-79.6	-48.4	-2.5	-34.8	0.0
Interest Expense	17.9	20.8	36.2	35.9	0.0
Gain/Loss on Disposal of Fixed Assets	—	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	0.0	0.0	0.0	0.0
Other Adjustments	0.0	0.0	0.1	0.3	0.0
Operating Profit Before Changes in Working Capital	237.3	119.9	124.1	136.1	181.4
Increase/(Decrease) in Receivables	290.7	274.3	-19.1	-68.0	0.0
Increase/(Decrease) in Inventory	14.8	-118.8	5.7	188.4	0.0
Increase/(Decrease) in Payables (Excl. Interest and CIT)	-47.3	-156.5	4.2	-130.7	0.0
Increase/(Decrease) in Prepaid Expenses	3.0	15.0	-9.2	-1.2	0.0
Changes in Trading Securities	—	0.0	0.0	0.0	0.0
Interest Paid	-17.9	-20.8	-36.1	-35.9	0.0
Corporate Income Tax Paid	-37.5	-17.0	-9.9	-23.1	0.0
Other Operating Receipts	—	0.1	0.0	0.0	0.0
Other Operating Payments	-2.5	-2.7	-4.3	-9.2	0.0
Net Cash Flow from Operating Activities	440.7	93.6	55.4	56.4	205.8
Payments for Fixed Assets and Other Long-term Assets	-47.0	-77.0	-376.0	-47.7	-251.3
Proceeds from Disposal of Fixed Assets and Long-term Assets	3.1	46.3	1.4	0.4	0.8
Loans and Purchases of Debt Instruments	-295.0	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	—	0.0	0.0	0.0	0.0
Investments in Other Entities	—	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	33.3	0.9	61.2	0.8	0.0
Increase/(Decrease) in Term Deposits	—	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	0.0	0.0	0.0	0.0
Other Investing Receipts	—	0.0	0.0	0.0	0.0
Other Investing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-305.6	-29.8	-313.3	-46.5	-250.5
Proceeds from Equity Issuance and Capital Contributions	—	0.00	0.00	0.00	0.00
Share Repurchases	—	0.00	0.00	0.00	0.00
Proceeds from Borrowings	4,425.0	4,985.0	6,335.7	5,747.5	4,831.0
Repayment of Borrowings	-4,635.5	-5,075.4	-6,107.7	-5,620.7	-4,712.5
Repayment of Finance Leases	—	0.0	0.0	0.0	0.0
Dividends Paid	-0.0	0.0	0.0	0.0	-42.1
Other Financing Receipts	—	0.0	0.0	0.0	0.0
Other Financing Payments	—	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	-210.5	-90.3	227.9	126.8	76.4
Net Cash Flow During the Period	-75.4	-26.6	-30.0	136.7	33.2
Cash and Cash Equivalents at Beginning of Period	135.7	162.3	192.3	55.6	24.0
FX Difference from Revaluation	0.0	0.0	0.0	0.0	-0.0
Cash and Cash Equivalents at End of Period	60.3	135.7	162.3	192.3	55.6

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	2,378.5	1,714.1	1,660.9	1,785.1	2,137.1	1,796.8	1,654.4	1,914.2	1,993.9	1,789.5	2,144.0	1,719.9
Revenue Deductions	13.1	12.9	16.6	17.9	16.9	10.0	14.8	7.0	6.3	2.1	4.9	3.1
Net Revenue	2,365.4	1,701.2	1,644.3	1,767.2	2,120.3	1,786.8	1,639.6	1,907.2	1,987.7	1,787.4	2,139.1	1,716.8
Cost of Goods Sold	2,280.6	1,631.9	1,558.0	1,690.5	2,064.3	1,720.1	1,532.0	1,867.9	1,952.4	1,747.6	2,074.9	1,672.0
Gross Profit	84.7	69.3	86.3	76.7	56.0	66.6	107.6	39.4	35.2	39.8	64.2	44.9
Financial Income	5.8	5.9	3.5	2.9	27.9	1.0	0.9	0.0	0.0	0.0	0.0	0.0
Financial Expenses	15.9	8.7	4.4	3.6	4.5	5.6	5.4	5.4	4.4	5.6	7.5	9.2
Interest Expense	15.9	8.7	4.4	3.5	4.6	5.4	5.4	5.4	4.4	5.6	7.5	9.2
Share of Associates and Joint Ventures	26.7	15.3	28.7	19.3	-14.2	9.7	9.6	-2.3	2.9	0.7	3.3	-1.7
Selling Expenses	28.4	23.0	11.5	15.1	17.5	17.7	15.0	12.5	12.6	11.2	16.1	15.6
General and Administrative Expenses	7.7	6.3	13.5	5.8	7.5	5.4	6.8	6.8	6.8	6.4	12.4	6.9
Operating Profit	65.2	52.5	89.2	74.5	40.2	48.8	90.8	12.5	14.4	17.3	31.5	11.5
Other Income	0.4	0.3	0.8	0.7	0.3	0.1	0.0	0.0	0.1	0.1	0.0	0.2
Other Expenses	0.1	0.0	0.2	0.2	0.0	0.0	0.2	0.0	0.0	0.0	0.1	0.0
Other Profit	0.3	0.3	0.6	0.5	0.3	0.1	-0.2	0.0	0.1	0.1	-0.1	0.2
Profit Before Tax	65.6	52.8	89.7	75.0	40.5	48.9	90.6	12.5	14.5	17.4	31.4	11.7
Current Income Tax Expense	7.8	7.5	12.3	11.3	5.6	7.9	16.4	3.0	2.4	3.3	5.6	2.7
Deferred Income Tax Expense	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Net Income	57.8	45.3	77.5	63.8	34.9	41.0	74.2	9.5	12.1	14.0	25.7	9.0
Non-controlling Interest	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Profit Attributable to Parent	57.8	45.3	77.5	63.8	34.8	41.0	74.2	9.5	12.1	14.0	25.7	9.0
Earnings per Share	939.00	736.00	1,258.00	913.00	623.00	732.00	1,207.00	147.00	227.00	264.00	483.00	125.00
Diluted EPS	938.90	735.92	1,258.97	1,036.32	623.06	732.19	1,326.06	170.44	227.35	263.58	482.62	168.91

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
A. SHORT-TERM ASSETS (100=110+120+130+140+150)	2,439.4	1,998.9	1,238.9	1,368.2	1,562.0	1,624.6	1,327.0	1,333.2	1,377.4	1,458.8	1,480.4	1,278.3
I. Cash and cash equivalents	100.3	28.2	60.3	323.6	356.2	110.7	135.7	109.5	99.7	88.0	162.3	75.4
1. Cash	100.3	28.2	60.3	88.6	39.2	18.7	20.7	59.5	99.7	88.0	162.3	75.4
2. Cash equivalents	—	—	—	235.0	317.0	92.0	115.0	50.0	0.0	0.0	0.0	0.0
II. Short-term financial investments	911.3	846.3	295.0	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
1. Available for sale securities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
2. Provision for diminution in value of available for sale securities (*)	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
3. Held to maturity investments	911.3	846.3	295.0	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
III. Short-term receivables	697.4	591.6	344.6	470.7	699.0	735.7	643.9	653.2	710.8	720.2	878.9	783.4
1. Short-term trade accounts receivable	593.9	528.6	262.6	396.6	610.6	643.7	569.9	578.1	645.0	690.3	815.1	743.7
2. Short-term prepayments to suppliers	69.6	25.0	45.5	38.5	33.6	41.0	38.2	34.6	32.2	4.4	36.8	10.4
3. Short-term inter-company receivables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
4. Construction contract progress receipts due from customers	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
5. Short-term loan receivables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
6. Other short-term receivables	60.4	64.2	62.7	60.9	80.1	75.7	60.6	65.3	58.3	50.2	51.8	53.3
7. Provision for short-term doubtful debts (*)	-26.5	-26.2	-26.2	-25.3	-25.3	-24.8	-24.8	-24.8	-24.8	-24.8	-24.8	-23.9
8. Assets awaiting resolution	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
IV. Inventories	720.6	532.1	531.4	561.8	506.3	763.0	546.2	558.0	556.4	626.6	427.5	417.0
1. Inventories	720.6	532.1	531.4	561.8	506.3	763.0	546.2	558.0	556.4	626.6	427.5	417.0
2. Provision for decline in value of inventories	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
V. Other short-term assets	9.7	0.7	7.6	12.1	0.5	15.2	1.1	12.4	10.5	24.0	11.7	2.5
1. Short-term prepayments	0.3	—	—	0.2	0.4	—	0.1	3.1	3.7	5.3	7.0	1.5
2. Value added tax to be reclaimed	9.4	0.7	7.6	11.9	—	15.2	1.0	9.3	6.8	18.7	4.7	1.0
3. Taxes and other receivables from state authorities	—	—	0.0	—	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
4. Government bonds	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
5. Other short-term assets	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
B. LONG-TERM ASSETS (200=210+220+240+250+260+270)	1,196.1	1,140.8	1,090.5	1,036.6	1,011.9	1,023.2	1,007.1	979.5	972.5	966.4	966.9	951.9
I. Long-term receivables	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2
1. Long-term trade receivables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term prepayments to suppliers	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
3. Capital at inter-company	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
4. Long-term inter-company receivables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term loan receivables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term receivables	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2
7. Provision for long-term doubtful debts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
II. Fixed assets	103.6	100.6	104.7	102.7	103.4	105.8	107.5	117.8	120.9	122.7	126.0	129.5
1. Tangible fixed assets	89.9	86.8	90.8	88.7	89.2	91.6	93.2	101.3	104.3	106.2	109.4	112.8
- Cost	484.8	480.8	—	—	—	—	477.0	484.2	484.2	482.8	482.8	482.8
- Accumulated depreciation	-395.0	-394.1	—	—	—	—	-383.8	-382.8	-379.9	-376.6	-373.4	-370.0
2. Financial leased fixed assets	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
3. Intangible fixed assets	13.7	13.8	13.9	14.0	14.2	14.3	14.4	16.5	16.6	16.5	16.6	16.7
- Cost	20.5	20.5	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	-6.8	-6.7	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
III. Investment properties	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Cost	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
- Accumulated depreciation	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
IV. Long-term assets in progress	875.3	849.0	809.2	785.3	778.6	772.5	763.7	735.2	720.6	712.6	707.8	696.0
1. Long-term production in progress	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
2. Construction in progress	875.3	849.0	809.2	785.3	778.6	772.5	763.7	735.2	720.6	712.6	707.8	696.0
V. Long-term financial investments	210.1	183.4	168.1	139.4	120.1	134.2	124.5	114.9	117.2	114.3	113.6	110.3
1. Investments in subsidiaries	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
2. Investments in associates, joint-ventures	210.1	183.4	168.1	139.4	120.1	134.2	124.5	114.9	117.2	114.3	113.6	110.3
3. Investments in other entities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
4. Provision for diminution in value of long-term investments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
5. Held to maturity investments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
6. Other long-term investments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
VI. Other long-term assets	6.9	7.6	8.3	9.0	9.7	10.4	11.2	11.3	13.6	16.6	19.4	15.9
1. Long-term prepayments	6.9	7.6	8.3	9.0	9.7	10.4	11.2	11.3	13.6	16.6	19.4	15.9
2. Deferred income tax assets	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term equipment, supplies, spare parts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
4. Other long-term assets	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
5. Goodwill	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
VII. Goodwill (before 2015)	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL ASSETS (280=100+200)	3,635.5	3,139.6	2,329.4	2,404.8	2,573.9	2,647.7	2,334.1	2,312.6	2,350.0	2,425.2	2,447.3	2,230.2
A. LIABILITIES (300=210+330)	2,298.2	1,798.6	1,033.7	1,180.6	1,413.5	1,522.2	1,249.5	1,295.6	1,342.5	1,429.8	1,465.9	1,271.2
I. Short -term liabilities	1,802.4	1,359.6	825.6	972.7	1,207.7	1,316.4	1,043.8	1,087.9	1,135.2	1,222.5	1,258.7	1,063.1
1. Short-term trade accounts payable	612.1	415.6	128.8	503.5	684.6	698.2	393.2	255.8	479.6	460.5	523.9	454.1
2. Short-term advances from customers	0.6	0.3	1.5	4.8	0.3	0.4	0.6	11.8	1.8	13.1	10.5	0.4
3. Dividends and profits payable	0.3	—	—	—	—	—	—	—	—	—	—	—
3. Taxes and other payables to state authorities	13.4	8.6	17.2	37.9	28.8	7.9	18.9	12.2	3.3	3.4	9.5	16.9
4. Payable to employees	29.6	23.7	35.5	12.6	11.0	8.9	13.0	11.4	8.9	6.9	13.0	6.8
5. Short-term acrrued expenses	6.3	14.5	0.9	10.8	8.5	4.4	0.7	2.8	4.0	2.7	0.7	0.5
6. Short-term inter-company payables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
7. Construction contract progress payments due to suppliers	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
8. Short-term unearned revenue	0.8	1.0	1.0	1.5	1.5	2.1	2.1	2.7	2.0	2.5	2.0	2.7
9. Other short-term payables	0.4	0.7	0.7	0.7	0.8	0.9	1.4	5.0	2.0	6.0	0.9	2.8
10. Short-term borrowings and financial leases	1,086.1	832.0	571.9	369.5	440.7	562.3	580.6	759.5	605.9	699.8	668.9	553.0
11. Provision for short-term liabilities	16.6	26.9	31.4	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
12.. Bonus and welfare fund	36.1	36.1	36.7	31.4	31.4	31.4	33.3	26.6	27.7	27.7	29.2	25.9
13. Price stabilization fund	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
14. Government bonds	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
II. Long-term liabilities	495.9	439.0	208.1	207.9	205.8	205.8	205.7	207.7	207.3	207.3	207.2	208.2
1. Long-term trade payables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
2. Long-term advances from customers	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
3. Long-term acrrued expenses	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
4. Inter-company payables on business capital	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
5. Long-term inter-company payables	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
6. Long-term unearned revenue	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
7. Other long-term liabilities	495.9	439.0	208.1	207.9	4.0	4.0	3.9	3.9	3.5	3.5	3.4	3.4
8. Long-term borrowings and financial leases	—	—	—	—	201.8	201.8	201.8	203.8	203.8	203.8	203.8	204.8
9. Convertible bonds	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
10. Preferred stock (Debts)	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00
11. Deferred income tax liabilities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
12. Provision for long-term liabilities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
13. Fund for technology development	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
14. Provision for severance allowances	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
B. OWNER'S EQUITY (400=410+430)	1,337.3	1,341.0	1,295.7	1,224.2	1,160.4	1,125.5	1,084.6	1,017.0	1,007.5	995.4	981.4	958.9
I. Owner's equity	1,337.3	1,341.0	1,295.7	1,224.2	1,160.4	1,125.5	1,084.6	1,017.0	1,007.5	995.4	981.4	958.9
1. Owner's capital	615.2	615.2	615.2	615.2	559.3	559.3	559.3	559.3	532.7	532.7	532.7	532.7
- Common stock with voting right	615,241,550,000.00	615,241,550,000.00	615,241,550,000.00	615,241,550,000.00	559,321,260,000.00	559,321,260,000.00	559,321,260,000.00	559,321,260,000.00	532,696,700,000.00	532,696,700,000.00	532,696,700,000.00	532,696,700,000.00
- Preferred stock	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00
2. Share premium	69.8	69.8	69.8	69.8	69.8	69.8	69.8	69.8	69.8	69.8	69.8	69.8
3. Convertible bond option	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
4. Other capital of owners	48.0	48.0	48.0	48.0	48.0	48.0	48.0	48.0	48.0	48.0	48.0	48.0
5. Treasury shares	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00
6. Assets revaluation differences	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
7. Foreign exchange differences	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
8. Investment and development fund	59.8	59.8	59.8	56.5	56.5	56.5	56.5	51.5	51.5	51.5	51.5	49.6
9. Fund to support corporate restructuring	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
10. Other funds from owner's equity	11.6	11.6	11.6	11.6	11.6	11.6	11.6	11.6	11.6	11.6	11.6	11.6
11. Undistributed earnings after tax	532.7	536.4	491.2	422.9	415.0	380.2	339.2	276.7	293.8	281.6	267.6	247.1
- Accumulated retained earning at the end of the previous period	429.6	491.2	283.3	283.3	339.2	339.2	241.0	241.0	267.6	267.6	214.8	214.8
- Undistributed earnings in this period	103.0	45.3	207.8	139.6	75.8	41.0	98.3	35.7	26.2	14.0	52.8	32.4
12. Reserves for investment in construction	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
13. Minority's interest	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2
14. Financial reserves	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
II. Other resources and funds	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
1. Subsidized not-for-profit funds	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
2. Funds invested in fixed assets	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
C. MINORITY'S INTEREST	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
TOTAL OWNER'S EQUITY AND LIABILITIES (440=300+400+500)	3,635.5	3,139.6	2,329.4	2,404.8	2,573.9	2,647.7	2,334.1	2,312.6	2,350.0	2,425.2	2,447.3	2,230.2

Item	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Profit Before Tax	65.6	52.8	89.7	75.0	40.5	48.9	90.6	12.5	14.5	17.4	31.4	11.7
Depreciation of Fixed Assets and Investment Property	2.0	4.1	2.5	3.2	3.4	2.9	2.9	3.0	3.3	3.3	3.5	3.7
Provision (Increase)/Reversal	-10.0	-4.5	32.3	0.0	0.5	—	0.0	0.0	0.0	-0.0	0.9	0.9
FX Gain/Loss from Revaluation of Monetary Items	-0.0	—	-0.0	0.0	-0.0	—	0.0	0.0	-0.0	0.0	-0.0	-0.0
Gain/Loss from Investment Activities	-32.8	-21.5	-32.8	-22.0	-13.9	-10.8	-47.1	2.3	-2.9	-0.7	-3.3	1.6
Interest Expense	15.9	8.7	4.4	3.5	4.6	5.4	5.4	5.4	4.4	5.6	7.5	9.2
Gain/Loss on Disposal of Fixed Assets	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Interest Income and Dividends	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of Goodwill	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Other Adjustments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.1	0.0
Operating Profit Before Changes in Working Capital	40.6	39.6	96.1	59.7	35.1	46.4	51.9	23.2	19.3	25.5	40.0	27.0
Increase/(Decrease) in Receivables	-79.2	-234.5	129.4	216.5	51.0	-106.1	17.1	60.7	51.8	144.8	-94.4	26.0
Increase/(Decrease) in Inventory	-188.5	-0.7	30.4	-55.5	256.7	-216.7	11.7	-1.5	70.1	-199.1	-10.5	42.3
Increase/(Decrease) in Payables (Excl. Interest and CIT)	234.2	246.4	-404.3	32.7	8.8	315.6	101.2	-204.1	5.9	-59.5	75.4	77.7
Increase/(Decrease) in Prepaid Expenses	0.3	0.7	0.9	0.9	0.3	0.9	3.2	2.9	4.5	4.5	-8.9	0.0
Changes in Trading Securities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Interest Paid	-16.2	-7.8	-4.5	-3.5	-4.7	-5.2	-5.7	-5.3	-4.6	-5.3	-7.9	-9.2
Corporate Income Tax Paid	-6.0	-17.1	-16.0	-3.9	0.0	-17.6	-4.4	-0.5	-2.7	-9.5	-1.6	-3.2
Other Operating Receipts	—	—	—	—	—	—	0.0	0.1	0.0	0.0	0.0	0.0
Other Operating Payments	0.0	-0.6	-0.6	0.0	0.0	-1.9	-0.0	-1.2	0.0	-1.5	-0.0	-0.3
Net Cash Flow from Operating Activities	-14.8	26.1	-168.6	246.8	347.0	15.5	175.0	-125.7	144.4	-100.1	-7.9	160.4
Payments for Fixed Assets and Other Long-term Assets	-111.3	1.2	-5.0	-8.9	-9.6	-23.4	-15.0	-18.1	-38.9	-5.0	-20.1	-175.9
Proceeds from Disposal of Fixed Assets and Long-term Assets	0.7	0.3	0.6	0.1	2.2	0.1	46.3	0.0	0.0	0.0	0.0	0.1
Loans and Purchases of Debt Instruments	-85.0	-551.3	-295.0	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Receipts from Loan Repayments and Sale of Debt Instruments	56.9	231.2	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Investments in Other Entities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Proceeds from Investments in Other Entities	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Dividends and Interest Income Received	13.1	0.3	2.3	2.6	27.4	1.0	0.9	0.0	0.0	0.0	0.0	0.0
Increase/(Decrease) in Term Deposits	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Acquisition of Non-controlling Interests	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Receipts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Payments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Investing Activities	-125.6	-318.3	-297.1	-6.3	20.0	-22.2	32.1	-18.1	-38.8	-5.0	-20.1	-175.7
Proceeds from Equity Issuance and Capital Contributions	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00
Share Repurchases	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds from Borrowings	1,742.3	1,145.0	812.8	1,113.3	1,414.3	1,084.7	1,099.1	1,470.5	1,368.7	1,046.7	1,874.9	1,418.2
Repayment of Borrowings	-1,488.2	-884.9	0.0	0.0	0.0	0.0	-1,280.0	-1,316.8	-1,462.7	-1,015.8	-1,760.0	-1,356.3
Repayment of Finance Leases	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Dividends Paid	-61.5	—	-0.0	—	—	—	0.0	0.0	0.0	0.0	0.0	-0.0
Other Financing Receipts	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Other Financing Payments	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0
Net Cash Flow from Financing Activities	192.6	260.1	202.5	-273.1	-121.6	-18.3	-180.9	153.7	-93.9	30.9	114.9	61.8
Net Cash Flow During the Period	52.1	-32.2	-263.3	-32.6	245.5	-25.0	26.2	9.9	11.6	-74.3	86.9	46.5
Cash and Cash Equivalents at Beginning of Period	28.2	60.3	323.6	356.2	110.7	135.7	162.3	162.3	162.3	162.3	192.3	192.3
FX Difference from Revaluation	0.0	—	0.0	0.0	0.0	—	-0.0	0.0	0.0	0.0	0.0	0.0
Cash and Cash Equivalents at End of Period	100.3	28.2	60.3	323.6	356.2	110.7	135.7	109.5	99.7	88.0	162.3	75.4

Giải mã BCTC

Điểm nhấn trong BCTC của CTCP Ống thép Việt - Đức VG PIPE (VGS) mà bạn nên biết

Q2/2026 On a TTM 2026Q2 basis, VGS is improving on both growth and profitability, painting a notably more positive picture versus the same period — profit is at an all-time high.

Want to know what to do next with this momentum? Talk to an advisor

Tiếp theo: Chuỗi số liệu & so sánh ngành → Tổng quan· Bóc tách BCTC· Nhận định