GELEX Electric Joint Stock Company (stock code: GEE – GELEX Electric) has just announced its financial statements for the first quarter of 2025, reporting a pre-tax profit of VND 608 billion, a 311% growth, more than quadrupling compared to the same period in 2024.

The main growth driver for GELEX Electric this quarter came from its core business activities, particularly its flagship product CADIVI electric cables. Additionally, the production units for measuring equipment, transformers, copper wires, etc., continued to maintain stable growth momentum.

Recently, GELEX Electric and its member units have also actively promoted digital transformation, optimized business operations, introduced flexible sales policies, enhanced product quality in the high-end segment, and streamlined organizational structures, etc. These comprehensive solutions have significantly contributed to the company’s profit growth.

CADIVI focuses on the domestic market with high-quality products.

Specifically, GELEX Electric’s consolidated net revenue for this period reached VND 5,281 billion, a 42% increase compared to the same period in 2024. Gross profit from sales and service provision reached VND 832 billion, an increase of VND 450 billion year-over-year, corresponding to a 117% growth. The gross profit margin this period reached 15.8%, a significant improvement compared to the same period (Q1/2024 was 10.3%), mainly driven by positive growth in sales of finished goods and merchandise.

The business’s pre-tax profit this quarter reached VND 608 billion, a 311% increase, quadrupling that of the same period in 2024. This marks the highest quarterly core profit in the business’s history.

Thus, with positive business results, after the first quarter of the year, GELEX Electric has achieved 23.7% of its 2025 revenue target and 36% of its profit plan.

In terms of financial indicators, debt ratios and debt-to-equity ratios remain at safe levels, equivalent to previous periods. The profit after tax / Return on Average Assets (ROA) this period reached 3.68%, up 2.82% compared to the previous period; Return on Equity (ROE) reached 6.77%, an increase of 4.81% compared to the previous period.

As of March 31, 2025, GELEX Electric’s total assets stood at VND 13,597 billion.

Looking at the business results for Q1/2025 and the whole of 2024, it is evident that GELEX Electric has maintained solid growth momentum despite a volatile market environment.

Regarding the upcoming quarters, the U.S. reciprocal tax policies are expected to have long-term impacts on Vietnamese businesses. The government has implemented several measures to safeguard national interests, guide market confidence, and maintain macroeconomic stability.

Data from 2024 shows that the proportion of export revenue to total net revenue at GELEX Electric was just over 1.5%. Within the total foreign markets export revenue, exports to the U.S. accounted for less than 0.5%.

However, GELEX Electric has proactively built flexible and adaptive response scenarios to cope with the new context.

The company has identified two fundamental advantages: production capacity and brand reputation. A company representative stated that going forward, GELEX Electric would focus on the domestic market, enhance high-tech, high-value-added products to solidify its market position, elevate corporate value, and contribute to increasing the local production content in line with the Government’s policy.

The company affirmed that alongside leveraging internal strengths, it would seize opportunities with creativity and courage to accompany the nation through this challenging phase.

On April 16, GELEX Electric announced the record date for the list of shareholders to receive bonus shares issued from owner’s equity. The final registration date is April 29, 2025.

Earlier, on April 10, GELEX Electric announced the payment of the remaining 2024 cash dividend at a rate of 20%. The record date for dividend entitlement is April 24. The expected payment date for the cash dividend is May 14, 2025.

Previously, the company had paid the first-round 2024 dividend at a rate of 10% per share (i.e., VND 1,000 per share). Thus, including both the 30% cash dividend and the 20% bonus shares, GEE shareholders will receive up to 50%.