According to EVN’s audited consolidated financial statements for 2025, the Vietnam Electricity Group reported consolidated revenue of VND 645,658 billion last year, an increase of 11.2% from 2024. Cost of goods sold rose by only 3.4% to VND 549,307 billion.
As a result, the company’s gross profit improved markedly, rising more than 94% to over VND 96,350 billion. After deducting other expenses, EVN recorded consolidated profit before tax of more than VND 54,750 billion, 5.8 times that of 2024.
Revenue from electricity sales remained the core of the group’s total revenue, accounting for more than 98.7%. Specifically, EVN’s electricity sales revenue increased 11.2% year-on-year to VND 637,352 billion.
Meanwhile, the cost of electricity sold rose by only about 3.4%, to VND 544,571 billion. Thus, electricity costs accounted for roughly 85% of EVN’s total electricity sales revenue.
The group reported undistributed after-tax profit of more than VND 5,533 billion as of the end of 2025, compared with an accumulated loss of about VND 38,688 billion at the beginning of the year. This consolidated profit includes the parent company EVN’s profit and the parent’s share of profit in subsidiaries and associates. The figure does not yet take into account provisions set up by subsidiaries or decisions on profit distribution or retention to be made by shareholders’ general meetings.
The large profit for the year eliminated the group’s consolidated accumulated loss and significantly eased the parent company’s financial pressure.
EVN currently comprises three power generation corporations (GENCO 1, 2, 3); nine hydropower and thermal power companies; five power distribution corporations; and one corporation responsible for transmission.
For the parent company alone, the separate financial statements show an accumulated loss of more than VND 45,374 billion at the start of 2025. By year-end, the parent company achieved profit before tax of about VND 39,768 billion, more than 7.5 times that of the previous year, reducing the parent’s accumulated loss to just over VND 5,600 billion. This figure aligns with the accumulated loss of VND 5,600 billion that EVN reported to the Ministry of Industry and Trade on May 14, due to improved business performance.
At the 2025 year-end review, EVN’s leadership also said the reduction in accumulated loss was aided by cost savings. The accumulated loss mainly reflected direct production and supply costs that had not been fully accounted for or compensated in previous retail electricity prices.
As of December 31, 2025, the electricity giant’s total assets reached more than VND 783,000 billion, up nearly 16% from the end of 2024. Corresponding liabilities were about VND 523,450 billion (up more than 10%), and equity stood at more than VND 259,639 billion (up about 29%).
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