First batch of companies report Q1 2026 results, with several posting double-digit growth

Many companies have begun to disclose their Q1 2026 business results, with several reporting double-digit growth. Ca Mau Fertilizer (DCM) posted an 84% rise in pretax profit, Vietcap (VCI) increased by 13%, and HSC rose 26%. In the securities sector, MB Securities (MBS) continued its “early disclosure” tradition, reporting operating revenue of 1.019 trillion dong, up more than 50% year-on-year, driven mainly by margin lending and brokerage.

Securities: MBS growth led by margin lending and brokerage

MB Securities (MBS) reported interest income and receivables of nearly 440 billion dong, up about 60% year-on-year. Brokerage revenue reached over 241 billion dong, up 80%. However, the proprietary trading segment underperformed, with pretax profit rising only about 8% to nearly 368 billion dong, as rising capital costs weighed on margins.

Other brokerage firms also released initial estimates. Vietcap (VCI) is expected to post around 400 billion dong in pretax profit for Q1, up 13% year-on-year. Ho Chi Minh City Securities (HSC) reported revenue of 1.264 trillion dong and pretax profit of 356 billion, up 26%, supported by margin lending.

Banking: ACB pretax profit up sharply

In the banking sector, Asia Commercial Bank (ACB) reported consolidated pretax profit for Q1 of about 5.4 trillion dong, up 17% year-on-year and up sharply from the previous quarter, reaching about 24% of the annual plan.

Fertilizer: DCM posts strong revenue and profit

Ca Mau Fertilizer (DCM) recorded a strong start, with revenue of 5,370 billion dong and pretax profit of 837 billion, up 58% and 84% respectively. The company’s pretax profit reached the highest level in years.

Industrial and construction-related: Gelex and affiliates

Three Gelex-related companies reported Q1 results. Gelex (GEX) projected consolidated revenue of 10,100 billion dong and pretax profit above 700 billion, up 20% and 10%. Gelex Electric reported revenue over 7,000 billion dong and pretax profit of 750 billion, up 34% and 24%.

Materials: Viglacera and Vinatex

Viglacera (VGC) posted Q1 revenue of 3,280 billion dong, up 15%, while pretax profit was around 393 billion dong, down 5% year-on-year.

Vietnam Textile Group (Vinatex, ticker VGT) reported revenue of 4,554 billion dong, up 2%, and profit up 31% to 355 billion. For 2026, Vinatex targets consolidated revenue of 20,000 billion dong and profit of 1,200–1,500 billion. By the end of Q1 2026, it had reached about 23% of the revenue plan and 24%–30% of the profit plan depending on the scenario.

Energy: BSR profit exceeds full-year target early

BSR reported Q1 revenue around 41,000 billion dong and after-tax profit of 3,347 billion dong, exceeding the full-year after-tax profit target of 2,162 billion dong after just three months of operation. The refinery crack spread improved to about 11 USD per barrel, while product prices tracked import-market levels and were not capped.