Ho Chi Minh City, 10th December 2025 – Petroleum Equipment Assembly and Metal Structure Joint Stock Company (PVC-MS, stock code: PXS) concluded the year 2025 with impressive figures, marking a strong recovery and asserting its superior capacity in the oil and gas and energy construction and installation sector.
2025: A Year of Records and Robust Recovery
Amidst a volatile energy market and challenges stemming from lingering financial issues, the leadership and employees of PVC-MS united in their relentless efforts to successfully navigate the company through the "waves."
According to the 2025 Business Performance Report, PVC-MS successfully completed the key targets assigned by the General Shareholders’ Meeting:
• Production Value: Estimated at 1,105.20 billion VND, completing 141% of the annual plan and achieving a 203.5% growth compared to 2024.
• Total Revenue: Estimated at 945.75 billion VND, completing 130.4% of the annual plan and achieving a 163.2% growth year-on-year.
• Profit Before Tax: Recorded 14.77 billion VND, reaching 121% of the annual plan.
• State Budget Contribution: Reached 15.30 billion VND.
These are proud achievements, proving the efforts of the Leadership and all employees in all production and business activities in the past year.
Imprints on Mega-Projects and Global Reach
2025 marked a significant transformation for PVC-MS, as the company not only maintained its traditional market but also reaches out to the international market. The brightest highlight was the successful signing and execution of the Jacket and Topside Fabrication Contract for General Contractor MDL (India), valued at over 3,000 billion VND (approximately 115 million USD). This is the largest contract in the PVC-MS's history, cementing PVC-MS's reputation on the regional mechanical fabrication oil&gas map.
Concurrently, PVC-MS continued to affirm its role as a crucial link in the chain of national key projects:
• Long Thanh International Airport Project: Together with the consortium of contractors who won and executed the ground refueling station package.
• National Key Energy Projects: Completed and accelerated progress on projects such as the Block B – Phu Quoc Topside (estimated production value of 440.39 billion VND), the Lac Da Vang Jacket, and the P15 Project.
• Strategic Cooperation: Expanded fabrication work for major partners like Alpha ECC and PTSC M&C, ensuring continuous employment for staff and workers.
Restructuring and Resource Optimization
The success of 2025 also stemmed from effective corporate governance. PVC-MS strictly implemented restructuring, streamlining the organizational apparatus, and optimizing the function of assets and infrastructure at the fabrication yard. Strict practices of cost-saving were thoroughly implemented, helping to reduce production costs while ensuring safety, quality, and progress. Importantly, the income and living standards of employees were ensured and significantly improved, providing strong motivation for the production emulation movement.
2026 Plan: Breakthrough with a Revenue Target Exceeding 3 Trillion VND
With the results of 2025 as a premise for PVC-MS to create momentum for the development period in the following years. The PVC-MS's production and business plan in 2026 is set out as follows:
• Production Value: 3,114 billion VND.
• Revenue: 3,120 billion VND.
• Profit Before Tax: 41.40 billion VND.
• State Budget Contribution: 9.20 billion VND.
With a solid foundation built upon the achievements of 2025, and the enthusiastic support from the Parent Company – Petro Vietnam Construction Joint Stock Corporation (PETROCONs) and the Vietnam National Oil - Gas Group (Petrovietnam), PVC-MS confidently enters 2026 with a new mindset. It is ready to achieve the set goals, affirming the brand position of PVC-MS, affirming the brand position of PVC-MS – A Reliable Partner in Oil and Gas Mechanical Fabrication and Construction.
PVC-MS.