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Hoang Anh Gia Lai International Investment Joint Stock Company (HGI) reported that it closed fiscal year 2025 with net profit after tax of over 1,485 billion VND, up 74.6% from 850.6 billion VND in 2024. The strong earnings performance lifted shareholders’ equity to 4,275 billion VND, an increase of 76.6% over the reporting period.
Undistributed retained earnings rose to more than 3,280 billion VND, up 82.5% year-on-year. The company said this figure has become an important source of capital for long-term investments.
In the capital structure, total liabilities reached 6,381 billion VND, up 22.8% from the previous period. The increase was attributed primarily to an additional 1,000 billion VND in bonds issued to the public to finance agricultural projects.
Despite the higher absolute debt, financial safety indicators improved as equity growth outpaced borrowing. The debt-to-equity ratio declined from 2.15x to 1.49x, while the current ratio improved from 0.86x to 1.02x.
HGI manages more than 7,080 hectares of agricultural land in Laos, representing 46% of the HAGL group’s total raw material area. The portfolio focuses on economically valuable crops, including 2,670 hectares of bananas, 1,690 hectares of durians, 1,430 hectares of coffee, and 700 hectares of mulberries.
Mr. Doan Nguyen Duc said HGI is the unit with the strongest financial structure and asset quality within the group.
Hung Thang Loi Gia Lai Ltd., established in 2016, was renamed Hoang Anh Gia Lai International Investment JSC in November 2025. OCBS Securities said it is nearing completion of the listing dossier for HGI, with the company expected to publish formal information in Q2 2026.
Under the proposed plan, the parent group will offer 20% of its shares in HGI to raise about 1,500 billion VND to strengthen working capital and investments. After the offering, Mr. Doan Nguyen Duc stated that the HAGL group will retain a 75% stake.
To enhance investor appeal ahead of the IPO, leadership pledged annual profits not less than the charter capital and a 50% cash dividend payout for three consecutive years starting in 2026.
At the recent shareholders’ meeting, HGI set 2026 targets of revenue of 8,624 billion VND and profit of 4,202 billion VND. For Q1 2026, the company expects profit of 1,280 billion VND, up 3.5 times year-on-year.
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