On the morning of April 25, 2025, PetroVietnam General Services Corporation (PETROSETCO) successfully held its Annual General Meeting of Shareholders in Ho Chi Minh City. The meeting approved several key resolutions, reaffirming the company’s commitment to sustainable development in 2025 and beyond.
In 2024, PETROSETCO recorded consolidated revenue of VND 19,044 billion, exceeding the target by 3%. Pre-tax profit reached VND 283.2 billion – the highest level in the past three years. Earnings per share (EPS) rose by 35% compared to 2023, reaching VND 1,329. As a result, PETROSETCO announced a 5% cash dividend for its shareholders.
In Q1/2025, despite a slight seasonal dip in revenue, PETROSETCO still reported an estimated profit of VND 60 billion, marking a 14% increase year-over-year. This performance highlights the company’s adaptability and operational efficiency amid ongoing market volatility.
Accelerating Business Model Transformation and Diversifying Operations
The distribution segment remains the company’s core pillar, contributing over 76% of total revenue. PETROSETCO expanded its partnerships with various international brands such as Honor, Meizu, TCL, and Belkin. Notably, starting in 2025, the company transitioned its partnership with Samsung to an active distribution model, which is expected to improve profit margins and enhance business efficiency.
In the services sector, logistics and oil & gas technical supply services doubled their revenue. At the same time, PETROSETCO extended its catering services to major hospitals and industrial zones, aiming to become the leading provider of onshore life support services.
In parallel, the company has invested heavily in digital transformation, improved its governance model, strengthened supply chain monitoring, and enhanced service quality to better meet market and customer demands.
Prepared for Ownership Transition
One of the key topics discussed at the meeting was the anticipated divestment of the Vietnam Oil and Gas Group (PVN) from PETROSETCO in 2025. The company’s leadership confirmed that strategic plans are already in place to ensure a smooth transition, while maintaining its focus on stable and long-term development.
With a solid financial foundation, agile strategies, and a high-caliber workforce, PETROSETCO continues to assert its position as a leading enterprise in the distribution and oil & gas services sectors, ready to embrace new opportunities and challenges on its path to sustainable growth.