In the first nine months of 2026, GELEX Group reported consolidated net revenue of VND 39,158 billion, up 40.5% year on year. Profit before tax reached VND 3,931 billion, exceeding the full-year target by 8.8%.

GELEX Group (HOSE: GEX) has released its financial results for the third quarter of 2026. For the quarter, net revenue reached VND 13,957 billion, up 41.8% year on year, while gross profit rose 51.6% to VND 2,778 billion. The gross profit margin improved from 18.6% to 19.9%. Profit before tax reached VND 1,316 billion, up 5.03%.

For the first nine months of the year, GELEX recorded net revenue of VND 39,158 billion, up 40.5% year on year. Profit before tax reached VND 3,931 billion, up 14.2%, while profit after tax rose 16.7% to VND 2,817 billion. GELEX has achieved 87.6% of its full-year revenue target and 108.8% of its profit-before-tax target for 2026.

Within the Group, both GELEX Electric (GEE) and GELEX Infrastructure (GEL) exceeded their full-year profit-before-tax targets after nine months. GEE’s core profit grew 32%, while GEL exceeded its full-year profit target by 52%, supported by contributions from its industrial real estate and construction materials businesses.

Business Performance Across Member Companies

In the electrical equipment sector, market demand has been supported by power grid expansion and upgrades, investment in major infrastructure projects, and the development of manufacturing facilities by domestic and foreign-invested companies.

GELEX’s electrical equipment businesses continued to strengthen production capacity, secure raw material supplies, improve operating efficiency and upgrade their products. Alongside serving the domestic market, companies such as CADIVI and THIBIDI are also focusing on export market development, expanding business opportunities and diversifying their customer base.

Production initiatives at CADIVI are helping improve productivity and operating efficiency.

In industrial real estate, business activity has benefited from foreign investment inflows and demand for manufacturing facilities. According to Vietnam’s National Statistics Office, realized FDI reached USD 21.07 billion in the first nine months of 2026, up 12.1% year on year and the highest level in five years. Industrial production in the manufacturing and processing sector grew 12.9%.

Against this backdrop, Viglacera continued to expand its industrial land portfolio and invest in infrastructure. The company broke ground on Green One Industrial Park No. 01 in Hung Yen and is preparing to begin construction of the Tay Pho Yen project in Thai Nguyen and the Phu Ninh project in Phu Tho.

These new projects are being developed with a focus on green, smart industrial parks, incorporating digital technologies and renewable energy to meet investors’ increasingly demanding infrastructure and environmental standards.

Rendering of Green One Industrial Park No. 01, developed by Viglacera in Hung Yen.

In construction materials, investment and construction activity continued to support market demand. Total realized investment across the economy rose 15.1% in the first nine months of the year, alongside ongoing infrastructure and real estate projects.

Since 2025, Viglacera has been restructuring its organization to streamline management layers, strengthen specialization and improve resource coordination. The company is also accelerating automation, reducing energy consumption and developing green, smart building materials to improve the efficiency of its manufacturing facilities and respond to market demand.

Strengthening Resources for Investment

Alongside business operations at its member companies, GELEX continued to manage its investment portfolio, allocate capital and mobilize resources to support its development plans.

In industrial infrastructure, GELEX is partnering with Frasers Property to combine resources and expertise in the planning, development and operation of industrial parks, with the aim of delivering infrastructure solutions that meet the needs of both domestic and international investors.

As of September 30, 2026, GELEX’s consolidated total assets stood at VND 83,379 billion, up 13.4% from the beginning of the year. Its leverage and liquidity ratios remained within safe levels.

More recently, VIS Rating maintained GELEX’s long-term credit rating at A with a Positive outlook. The assessment reflects expectations of stronger earnings growth, improved operating cash flow and improved financial metrics over the next 12–18 months.

GELEX’s results for the first nine months of 2026 reflect contributions from its core businesses, alongside improvements in management and operations at its member companies. Going forward, the Group will continue to focus on improving asset utilization, managing its investment portfolio and balancing financial resources to support its development plans.

PR DEPARTMENT