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Top 7 billion-dollar companies in Vietnam 2022

Top 7 billion-dollar companies in Vietnam 2022

Monday 06, 02 2023
There were 7 enterprises in Vietnam's stock market with revenue exceeding VND 100,000 billion in 2022, including Petrolimex, Binh Son Refinery and Petrochemical, PV OIL, PV GAS, The Gioi Di Dong, Hoa Phat and Vingroup.

Oil and gas enterprises dominate

According to the consolidated financial statements of the fourth quarter (unaudited), the enterprise with the largest net revenue in the stock market in 2022 is the Vietnam National Petroleum Group (Petrolimex – Code: PLX) with VND 304,080 billion, an increase of 80 % compared to 2021. This result is also an all-time high in the history of this corporation. Compared to second company on the list, Petrolimex's revenue is 82% higher.

Vietnamcredit Vietnam National Petroleum Group

Despite increasing revenue, the profit after tax of Petrolimex decreased by nearly 39% compared to the previous year, to VND 1,913 billion.

The second company in the revenue ranking is Binh Son Refining and Petrochemical Joint Stock Company (Code: BSR) - the operator of Dung Quat Oil Refinery. Last year, Binh Son Refinery and Petrochemical brought in more than VND 167,000 billion, an increase of 65% compared to revenue in 2021.

Particularly in the fourth quarter, BSR's revenue reached VND 40,430 billion, also ranked second in the whole market after Petrolimex. Fourth quarter’s profit reached VND 1,495 billion, in contrast to the loss estimate of VND 700 billion given by the company's leaders in mid-December.

International crude oil prices rose in 2022 after the Russia-Ukraine conflict broke out. Domestic gasoline prices hit a historic peak of nearly VND 33,000/liter in July, boosting sales of distribution companies such as Petrolimex and PV OIL.

Among the companies with revenue of over VND 100,000 billion in 2022, besides Petrolimex and Binh Son Refinery and Petrochemical, there were two other representatives in the oil and gas field, namely Vietnam Oil Corporation (PV OIL – Code: OIL) and Vietnam Gas Corporation (PV GAS – Code: GAS).

PV OIL, PV GAS and Binh Son Refinery and Petrochemical all share the same parent company, the Vietnam Oil and Gas Group (PVN). Meanwhile, the largest shareholder of Petrolimex is the Committee for the Management of State Capital at Enterprises (also known as the Super Committee) with a ownership rate of 77%.

Vietnamcredit PV GAS

PV GAS is the only oil and gas company with a market capitalization of over VND 100,000 billion and is in the top 10 on the stock market. Vingroup (Code: VIC) and Hoa Phat (Code: HPG) are the other two enterprises with revenue in 2022 and current capitalization above the VND 100,000 billion level.

Steel enterprises suffer losses

In addition to Hoa Phat, another representative of the steel industry which is Vietnam Steel Corporation (VNSteel – Code: TVN) is also among billion-dollar companies.

Both Hoa Phat and VNSteel suffered losses in the fourth quarter of 2022, similar to Hoa Sen, Nam Kim, Pomina, etc. Last year, Hoa Phat made a profit of VND 8,444 billion while VNSteel suffered a loss of VND 822 billion.

In the list of top companies with the highest revenue last year, there are two other loss-making enterprises in the aviation industry, namely Vietnam Airlines (Code: HVN) and Vietjet (Code: VJC). This is the third consecutive year of loss for Vietnam Airlines while for Vietjet, it is the first year.

Vietnamcredit top companies

Mobile World Investment Joint Stock Company (Code: MWG) has the largest net revenue in the retail industry when it brought in VND 133,405 billion in 2022, up 8.5%.

Masan Group (Code: MSN) - which owns the WinMart supermarket chain and many subsidiaries in other fields - recorded net revenue of VND 76,189 billion in the past year, ranking 8th in the whole market.

Source: vietnambiz

Compiled by VietnamCredit


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