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Dien May Xanh Investment Joint Stock Company reported strong first-quarter results, including net profit after tax of VND 2.206 trillion—up nearly 1.5 times year on year—while revenue rose to over VND 32.61 trillion, up about 30% year on year. The company said it earned on average more than VND 24.5 billion per day, equivalent to over VND 1 billion per hour, as it accelerates ecosystem expansion ahead of an initial public offering (IPO) planned for this year.
In Q1, Dien May Xanh recorded:
The company attributed its expansion to multiple business pillars, including store networks, product categories, and digital channels.
By the end of Q1, the system maintained:
The company stated these figures were unchanged from the start of the year.
In overseas markets, the EraBlue joint venture in Indonesia reached revenue of IDR 906 billion (about VND 1.4 trillion). The company said average revenue per store there is 1.5–2.6 times higher than the domestic model.
The chain currently has 212 stores, with targets to roughly double by 2027 and quadruple to 2030 to reach 1,000 locations.
For this year, Dien May Xanh set targets of:
The company plans to conduct an IPO this year after obtaining regulatory approval. The maximum offering size is 179.5 million shares, equivalent to 16.3% of charter capital. Shares are expected to be offered at not below VND 16,163 per share, and all proceeds will be used to repay short-term borrowings.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
