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Global macroeconomic conditions remain highly volatile, prompting companies to prioritize safety and reduce risk in their production and business activities. During this year’s annual general meeting season, many listed companies signaled rollbacks in their 2026 production and business plans in light of objective factors.
Bình Sơn Refining and Petrochemical Company (BSR), operator of the Dung Quất Refinery, set a consolidated revenue target for 2026 of more than 154,140 billion VND, up about 25% from 2025. However, after-tax profit is expected to reach only 2,162 billion VND, down 58%.
BSR said domestic crude oil is kept at about 90% of designed capacity, while the remaining more than 30% will be imported from the United States and West Africa. The company also said it has prepared enough supply to operate at full capacity through July 2026.
Ca Mau Fertilizer and Oil (Ca Mau Fertilizer) reported positive Q1 2026 results, including production of 465,000 tons, revenue of 5,370 billion VND (up 58%), and pre-tax profit of 837 billion VND (up 84% year-on-year). Despite this, it still set a cautious 2026 plan with revenue of 17,615 billion VND and pre-tax profit of 1,320 billion VND, down 39% from 2025.
Vinaconex (Vietnam Construction and Import-Export) also pointed to a sharp profit decline. The company targets consolidated revenue of 15,423 billion VND, down more than 20% from the previous year, and after-tax profit of 1,037 billion VND, down about 73% from over 3,865 billion VND in 2025.
Vinaconex’s management said input cost pressures continue to rise, especially material costs and labor. It added that bidding and contracting in construction remains highly competitive, squeezing margins, while the construction market’s uneven recovery also affects performance.
Infrastructure Development Technology Company (IJC) plans to raise investment by more than 50%, to over 4,400 billion VND in 2026, mainly for the Sunflower 2 and Green City projects to ensure progress and handover. IJC targets consolidated revenue of 2,454 billion VND, up 53% from the same period, but after-tax profit is expected to fall 9% to 510 billion VND.
Assessing the above trend, a brokerage representative from VPS Securities said many companies recorded unusually high profits in the previous year, leading them to build 2026 plans more cautiously. The representative also noted that the volatile global economic backdrop continues to push companies to prioritize safety and reduce risk in production and business activities.
By Son Nhung.
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