Vietnam Electricity (EVN) announced that it has eliminated the cumulative losses accumulated over previous years, turning a profit of about 12.215 trillion VND in the first eight months of the fiscal year. Revenue for the period reached over 482,000 trillion VND, representing 70% of the annual target, and the company expects full‑year profit to exceed 13,500 trillion VND with a budget contribution of more than 26,300 trillion VND.
Consolidated Financial Statements – First Half 2026
In the consolidated financial statements for the first half of 2026, EVN recorded net revenue of 352,000 trillion VND, up 15% year‑on‑year, and an after‑tax profit of 20,828 trillion VND, a 136% increase. The parent company’s profit after tax surpassed 8,600 trillion VND, fully offsetting a cumulative loss of roughly 5,600 trillion VND recorded at the start of the year.
Profitability Drivers
The surge in profitability was driven largely by financial activities: interest income and loan earnings exceeded 3,000 trillion VND, total financial revenue topped 5,100 trillion VND (2.7 times the prior period), and favorable exchange‑rate movements added about 1,200 trillion VND. Meanwhile, financial costs fell by nearly half to just over 8,200 trillion VND, and unrealized exchange losses were reduced to negligible levels, improving the net financial margin by roughly 10,800 trillion VND.
Investment Plan
EVN’s investment plan targets 123,560 trillion VND by 2026, focusing on the Quang Trach I thermal plant, new power‑source projects and transmission grid upgrades under Power Plan VIII. Over the 2024‑2030 horizon, total sector investment is projected at around 830,000 trillion VND to meet an annual electricity demand growth of 10‑12%. The company highlighted challenges in synchronising power‑generation projects with grid development, noting that transmission lines of 220‑500 kV require longer approval and construction times than many renewable projects.
Assets and Liabilities
Assets rose to nearly 822,000 trillion VND, with cash and equivalents above 17,000 trillion VND and term deposits of about 156,000 trillion VND, while liabilities remain roughly two‑thirds of total assets. The deputy prime minister urged EVN to maintain its core role in ensuring energy security and to align source development with grid expansion.