Viglacera targets a 17% decline in consolidated pretax profit for 2026, despite 15% revenue growth to VND 15.3 trillion

Viglacera Joint Stock Company (VGC, HoSE: VGC) has released the documents for its 2026 annual general meeting, scheduled for April 25 at the company’s headquarters. For 2026, the company targets consolidated revenue of VND 15,300 billion, up 15% year-on-year, while consolidated pre-tax profit is expected to decline 17% to VND 1,820 billion. The proposed 2026 cash dividend payout is 10% of par value.

2025 results and proposed dividend

In 2025, Viglacera reported consolidated revenue of VND 13,315 billion and pre-tax profit of VND 2,201 billion, representing year-on-year growth of 11.8% and 35%, respectively. The company also stated that it exceeded its annual revenue and profit targets by 11.8% and 35%.

Based on these results, Viglacera will propose a 2025 cash dividend of 22%, equivalent to approximately VND 986.4 billion.

2026 business direction: real estate and industrial real estate

The company said real estate and industrial real estate will remain its growth pillars. In 2026, Viglacera plans to accelerate infrastructure investment in industrial parks including Tiền Hải, Hải Yên, Phú Hà Phase I, Yên Phong IIC, Thuận Thành 1, Phong Điền, and Trấn Yên (parent company), as well as Yên Mỹ, Sông Công 2, and Dốc Đá Trắng (joint-stock companies).

Viglacera also expects to break ground for new industrial parks: Tay Phổ Yên (about 500 hectares), Phù Ninh Phase I (about 150 hectares), and KCN No. 1 Hung Yen (about 217 hectares).

Preparation for additional industrial park projects

In parallel, the company will continue preparing investments for industrial park projects at Hữu Lũng (Lạng Sơn), Lương Tài (Bắc Ninh), Tiền Hải expansion (Hưng Yên), Việt Hồng (Lào Cai), and Trấn Dương (Hải Phòng). It will also survey and finalize dossiers for approvals for new industrial parks based on the list approved by prior annual general meetings.

Divestment and ownership restructuring

For 2026, Viglacera will continue its divestment plan and restructure ownership of group subsidiaries and associates that are underperforming or not aligned with the group’s development strategy. The company will divest from two units already earmarked for divestment under the AGM-approved strategic development direction: Yen Hung Ceramic Construction Joint Stock Company and Cau Duong Refractory Bricks Joint Stock Company.

It will also divest from four brick-and-tile units: Tu Liem JSC, 382 Dong Anh JSC, Huu Hung Ceramic Construction JSC, and Tu Son Brick JSC. In addition, Viglacera Ha Long JSC plans to divest from associated companies, including Viglacera Dong Trieu JSC and Viglacera Ha Long 2 JSC.

Transfer of Viglacera College

Viglacera will transfer Viglacera College to partners through appropriate means, stating that it is not part of the core business under the approved development strategy.

Capital increase for AAC plant project

Conversely, VGC plans to increase capital for Viglacera Tien Son JSC to implement an AAC (aerated autoclaved concrete) plant project in the southern region.