Vietnam’s listed non-financial firms post V-shaped recovery in Q3

Ngoc Thuy

Oct 28, 2020 / 01:59 PM

Profits of 347 non-financial firms expanded by 7.4% year-on-year in the first nine months of 2020, equivalent to the rate recorded in the pre-Covid-19 period.

Excluding flag carrier Vietnam Airlines, 347 non-financial stock exchang-listed firms in Vietnam maintained positive growth in the third quarter against the same period of last year, showcasing a V-shaped recovery during the process, according to a study by financial data provider Fiin Group.

Excluding flag carrier Vietnam Airlines, profits of 347 non-financial firms expanded by 7.4% year-on-year in Q3. Source: FiinGroup.

While Vietnam Airlines is still struggling with an estimated loss of VND5.64 trillion (US$242.44 million), profits of these remaining non-financial firms expanded by 7.4% year-on-year in the first nine months of 2020, equivalent to the rate recorded in the pre-Covid-19 period.

Specifically, earnings before interest and taxes (EBIT) of these 348 public firms declined by 12.4% year-on-year in the third quarter, or one third of the decline in the second quarter. This showed core business activities of all non-financial firms have significantly improved once the Covid-19 pandemic was put under control.

Chart: Ngoc Thuy. Data: FiinGroup.

Notably, a number of sectors recorded strong growth in both revenue and profit, including the automobile and retail.

Revenues from the retail sector in the third quarter rose 7-fold against the previous one, while profit growth was over 30% year-on-year, with Digiworld (DGW) and PetroVietnam General Services Corporation (PSD) being major contributors.

FiinGroup attributed high demand for electronic products and smartphones during the Covid-19 outbreak to positive business results of these retailers.

For financial companies, including commercial banks, insurance and securities firms, their revenues in the third quarter rose by 7.1%, higher than the growth rate recorded in the second quarter, and profit growth was 4.5%.

The result, nevertheless, remained positive amid the economy facing severe impacts from the Covid-19 pandemic, stated FiinGroup.

Vietnam economic recovery firms up in September: WB

17 Oct, 16:18

Under growing uncertainties in both the domestic and international contexts, greater attention should be paid to mitigating risks facing public finance and the financial sector, stated the World Bank.

Vietnam PM urges speedier economic recovery to ensure 2.5–3% GDP growth

03 Oct, 16:23

Vietnam has been successful in realizing the dual target of both containing the pandemic and boosting economic growth, which has translated into higher economic performance in September.

Less than 10% of enterprises suspend operations on Covid-19: Survey

24 Apr, 08:47

Enterprises have been more active in adjusting their business strategies at a time when the pandemic is set to stay for a long period.

Vietnam OCOP Festival 2025 honors products as program marks nationwide development milestones

The festival aims to promote and honor outstanding OCOP products and producers and to reaffirm Hanoi’s leading role as the country’s “pacesetter” in the One Commune One Product (OCOP) program.

17 Dec, 07:06 PM

Vietnam posts five-year high FDI disbursement as investor confidence strengthens nationwide 2025

Despite global economic and geopolitical headwinds, foreign capital flows into Vietnam accelerated in 2025, with investment increasingly concentrated in high value-added sectors, highlighting the country’s growing appeal as a stable, long-term destination for investors.

16 Dec, 10:12 PM

VN-Index set for 2,200-mark next year: JP Morgan

Vietnam’s appeal goes beyond the upgrade, driven by major economic reforms that are lifting business and consumer confidence, as well as improving profit prospects over the next three to five years.

16 Dec, 03:35 PM

Vietnam to launch smart agriculture innovation center in Lang Son

The center is expected to bridge gaps in technology testing, connect farmers with researchers and markets and accelerate sustainable, high-tech agricultural development nationwide.

15 Dec, 07:28 PM

Hanoi urged to train 100,000 digital engineers through online academy

The Capital Strategic Technology Development Forum gathered a wide range of proposals from businesses, experts and investors on how Hanoi should shape its deep-tech development agenda in the coming decades with a long-term vision to 2045.

15 Dec, 07:16 PM

Inclusive innovation must give everyone equal voice, experts say at TECHFEST Vietnam 2025

Open innovation is becoming a cornerstone of Vietnam’s development strategy, as policymakers, experts and international partners emphasize people-centered collaboration to tackle inequality, climate change and urbanization through inclusive, technology-driven solutions showcased at TECHFEST Vietnam 2025.

14 Dec, 02:17 AM

Vietnam attracts $400 million in venture capital as tech startups surge

Vietnam’s startup ecosystem continues to expand rapidly, with strong venture capital inflows and fast growth in digital, AI and green technologies, reinforcing the country’s appeal to global investors.

13 Dec, 04:40 PM

Vietnamese policymakers push for early launch of gold exchange

A transparent gold exchange would not only offer a safe investment channel for the public but also provide a foundation for Vietnam to become a regional hub for jewelry manufacturing and exports.

12 Dec, 04:05 PM