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Saigon Cargo Services Joint Stock Company (SCSC) reported its Q1 2026 results. Net revenue reached nearly VND 272 billion, up 2% year-on-year. Gross profit remained strong with an 78% gross margin, amounting to about VND 213 billion. In the quarter, financial income rose to nearly VND 22 billion, up 60% YoY. After deducting expenses, profit before tax stood at VND 218 billion, up 2% YoY. As of the end of Q1 2026, total assets amounted to VND 2,085 billion, down by VND 81 billion from the start of the year. Cash, cash equivalents, and time deposits accounted for 72% of total assets, totaling VND 1,494 billion. Time deposits exceeded VND 1,348 billion, with the largest deposits held at digital bank Vikki (VND 288 billion), Viet A (VND 259 billion), and VIB (VND 192 billion). Equity attributable to shareholders stood at VND 1,735 billion, up VND 173 billion from the beginning of the year. The company had no long-term debt, with short-term borrowings totaling only VND 98 billion; retained earnings by the end of Q1 reached nearly VND 700 billion. On April 28, 2026, SCSC will hold its 2026 annual general meeting in Ho Chi Minh City. The company plans total revenue of VND 1,300 billion and pre-tax profit of VND 960 billion, about 2% higher than 2025 actual results. If approved, by the end of Q1 the company will have completed roughly 23% of its revenue and profit plan. Regarding profit distribution, management proposed a 50% cash dividend for 2025 (equivalent to VND 5,000 per share). Previously, an interim cash dividend of 25% was advanced on January 26, 2026. The 2026 dividend payout target is 30% in cash. Additionally, the board proposed issuing more than 1 million ESOP shares, representing about 1% of the outstanding stock, with an issue price of VND 10,000 per share. All ESOP shares would be non-transferable in the first year (12 months after issuance). In the second year (the following 12 months), 50% of the issued ESOP shares would be non-transferable. If successful, SCSC could raise around VND 10 billion. Read more.
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