Growth in GELEX’s core businesses, particularly electrical equipment and infrastructure – continued to drive strong first-half results while supporting the Group’s long-term investment plans.

GELEX Group Joint Stock Company (HoSE: GEX) has announced its consolidated financial results for the second quarter of 2026, showing continued business momentum.

In the second quarter, consolidated net revenue reached VND 14,480 billion, up 43.1% year on year, while profit before tax increased 16.8% to VND 1,805 billion. For the first six months of the year, consolidated net revenue totalled VND 25,202 billion, an increase of 39.7%, and profit before tax reached VND 2,611 billion, representing 72.2% of the Group’s full-year profit target.

Growth was supported by strong performance across GELEX’s core businesses, together with higher public investment, steady FDI inflows, and continued demand for infrastructure, energy, and industrial parks. The electrical equipment and infrastructure segments remained the Group’s primary growth drivers, confirming GELEX’s strategy of focusing on businesses with long-term growth potential.

At the same time, GELEX continued investing for its next stage of growth. As of 30 June 2026, consolidated total assets reached VND 85,749 billion, up 16.5% from the beginning of the year. The increase was driven primarily by growth in long-term assets, largely due to continued investment in strategic projects.

Perspective rendering of Gia Binh International Airport

The expansion of investment also led to higher borrowings and financing costs compared with the same period last year. According to GELEX, higher borrowing is a natural part of an investment cycle. The capital is being invested in projects expected to generate long-term cash flows, while the Group’s core businesses continue to perform well and maintain a healthy financial position.

The results were also affected by certain accounting adjustments made under prudent accounting principles, as well as movements in financial markets. Despite these factors, GELEX maintained a balanced approach to growth, investment, and financial risk management.

As part of its strategy through 2030, GELEX is continuing its transition to an investment group, focusing on electrical equipment, infrastructure, industrial parks, and real estate – businesses that the Group believes will drive sustainable growth over the long term. Within this strategy, higher financing costs are a natural consequence of investing for future growth rather than maximizing short-term results.

GELEX’s first-half results reflect both the strength of its core businesses and its commitment to investing for the future. As strategic projects come into operation over the coming years, today’s investments are expected to become the foundation for the Group’s next phase of growth.

PR DEPARTMENT