The 2026 Annual General Meeting of Shareholders of PetroVietnam General Services Corporation (PETROSETCO) was held amid the company’s continued stable growth momentum and ongoing implementation of strategic initiatives aimed at strengthening its foundation for sustainable development.
Despite geopolitical uncertainties and global inflationary pressures throughout 2025, PETROSETCO once again demonstrated the resilience and capability of a leading player in the distribution and services sector. Reporting to shareholders, the Company’s Management Board announced that consolidated revenue for 2025 reached VND 21.815 trillion, achieving 106% of the annual target. Notably, profit before tax surged to VND 451.7 billion, representing an impressive 159% increase compared to 2024.
Earnings per share (EPS) reached VND 2,304, up sharply by 173% from VND 1,329 in the previous year. These remarkable results further strengthened PETROSETCO’s position in the VNR500 ranking, securing 92nd place among Vietnam’s largest enterprises and 39th among private enterprises. The company was also recognized among the Top 100 Largest Tax-Contributing Enterprises and the Top 100 Sustainable Businesses in Vietnam in 2025 (CSI 2025).
Flexible Transformation and Breakthrough Beyond Traditional Sectors
Recent years have marked a significant transformation in PETROSETCO’s business management and operational strategy.
The ICT Distribution segment continued to serve as the Company’s primary growth driver, contributing 82% of total consolidated revenue and 47% of total profit before tax across the system. Revenue in this segment increased by 13% year-on-year, reflecting the success of expanding the portfolio of high-tech products, capitalizing on digital transformation demand, and capturing opportunities arising from the rapid growth of AI-related devices and technologies.
Meanwhile, the Property Management segment accelerated the application of digital technologies in operations, helping optimize energy and labor costs while maintaining five-star service standards and high occupancy rates across managed buildings. As a result, revenue in this segment increased by 12% year-on-year.
The Catering Services segment recorded a 19% year-on-year increase, achieving a strategic milestone by providing services to international offshore drilling rigs and successfully penetrating the hospital and education sectors with internationally standardized quality-control processes.
In particular, the Materials, Equipment & Logistics segment achieved an impressive growth rate of 25% year-on-year. This performance was largely driven by the timely supply of specialized equipment for major oil and gas projects such as Dai Hung Phase 3 and Su Tu Trang Phase 2B.
The synchronized growth across all business segments clearly demonstrates PETROSETCO’s effective market diversification strategy and resource optimization capability.
Charter Capital Increase Strategy and Shareholder Value Optimization
Based on the strong business performance, the General Meeting of Shareholders approved a plan to issue shares for the 2025 dividend payment, including more than 5.3 million shares at a ratio of 20:1 (equivalent to 5%), along with the issuance of more than 42.6 million bonus shares from equity capital at a ratio of 5:2 (equivalent to 40%).
This capitalization plan is expected to increase the Company’s charter capital to approximately VND 1.553 trillion during Q2–Q3/2026.
In parallel, shareholders also approved a public offering plan of more than 106.7 million shares to existing shareholders at an offering price of VND 10,000 per share on a 1:1 ratio. Through this offering, PETROSETCO expects to raise approximately VND 1.067 trillion.
The proceeds will be allocated toward investment in key projects, additional capital contributions to subsidiaries and affiliated companies, and enhancement of the Company’s financial capacity to support future expansion plans.
Alongside business performance, PETROSETCO continues to place strong emphasis on transparency in corporate governance and supervision. The General Meeting approved several important governance-related matters, including amendments to the Company Charter, adjustments to internal governance regulations and Board of Directors’ operating regulations, the addition of new business lines, and consideration of a company name adjustment plan.
Committed to Sustainable Development
Entering 2026, PETROSETCO targets consolidated revenue of VND 23 trillion, aiming to further expand its operational scale while enhancing business efficiency.
Profit targets have been developed on a prudent basis, aligned with the Company’s flexible management approach and focus on sustainable growth quality. This balanced strategy between scale expansion and operational efficiency reflects PETROSETCO’s proactive adaptability to market conditions and commitment to optimizing resources.
In terms of strategic direction, PETROSETCO will continue focusing on its core business sectors, particularly distribution activities, with ICT products and technology devices remaining key growth drivers. The expansion of new technology product categories aligned with digital transformation and artificial intelligence trends is expected to create significant medium- and long-term growth opportunities.
At the same time, PETROSETCO will continue strengthening its service activities associated with oil and energy projects, focusing on bidding packages aligned with the capabilities and competitive strengths of its member companies. Comprehensive preparation in terms of technical expertise, financial resources, and human capital will further enhance the Company’s competitiveness in bidding activities while ensuring high service quality.
The high approval rates for all submitted proposals reaffirm shareholders’ confidence in PETROSETCO’s leadership team. With a solid financial foundation, a well-structured capital expansion strategy, and a diversified service ecosystem, PETROSETCO is confidently advancing toward its vision of becoming a leading multi-sector integrated services corporation, delivering sustainable added value for shareholders, partners, and the community.