BSR Raises 2026 Profit Target to VND 18.579 Trillion

Dung Quất refinery operator BSR (Tổng công ty Lọc hóa dầu Việt Nam) has raised its 2026 business targets. Its revenue target is now about VND 190.83 trillion, nearly VND 37 trillion above the plan shareholders approved early in the year. Its after-tax profit target has risen from VND 2.162 trillion to VND 18.579 trillion. If achieved, the new profit target would be the highest since the company was founded in 2008.

In the first nine months of the year, BSR recorded revenue of more than VND 164 trillion, reaching about 86% of its new target. After-tax profit exceeded VND 24.9 trillion, 11 times the year-earlier figure and already above the revised full-year target. With business improving, management expects employees’ average monthly pay to reach VND 50.3 million, up from the previous plan of VND 40.3 million.

In a filing to the Ho Chi Minh City Stock Exchange, BSR’s management said its stronger results were driven mainly by rising crude oil prices. It said prices climbed from an average of USD 69 a barrel in the third quarter of last year to USD 97 in the third quarter of this year because of the conflict in the Middle East. Higher crude prices also pushed up selling prices for refined products. The company had previously expected oil price volatility, declining domestic crude supplies and rising maintenance costs to pose business challenges.

BSR manages and operates the Dung Quất refinery. Petrovietnam (Tập đoàn Công nghiệp - Năng lượng Quốc gia Việt Nam) holds more than 92% of its shares on behalf of the state. Securities firm Vietcap forecasts BSR’s full-year revenue at about VND 205 trillion and profit at more than VND 24 trillion. Yuanta Việt Nam’s forecasts are higher, at about VND 213 trillion and VND 32.6 trillion, respectively. Both firms’ forecasts exceed BSR’s new targets.

Source: VietVance