Customers buying gasoline at a Petrolimex station. — VNA/VNS Photo

 

Petrolimex has recently unveiled a strategy to divest its entire capital stake in Petrolimex Laos Pte., Ltd.

 

The plan involves transferring the full equity capital worth US$1.89 million, equivalent to 100 per cent of Petrolimex Laos' charter capital.

 

The divestment process will be conducted through a public auction in Việt Nam, with the entire value of the equity capital stake up for bidding.

 

The auction is expected to take place in the first quarter of 2025, with an initial price of over VNĐ68.1 billion and a 10 per cent deposit required for participation.

 

Petrolimex has indicated that this divestment plan adheres to government directives and is part of the restructuring initiative outlined in the company’s 2021-2025 roadmap.

 

The plan was approved by an extraordinary General Meeting of Shareholders on December 6, 2022.

 

In the fourth quarter of 2024, Petrolimex reported a net revenue of over VNĐ71 trillion (US$2.8 billion), marking a 3.5 per cent rise on-year.

 

However, the net profit after tax stood at VNĐ612 billion, reflecting a 20 per cent decline.

 

The decrease in Q4 2024 profits, as attributed by Petrolimex, was primarily influenced by significant fluctuations in currency exchange rates during the final three months of the year, coupled with a surge in purchases from foreign suppliers, resulting in large exchange rate losses compared to the same period.

 

In 2024, Petrolimex achieved a net revenue of over VNĐ284 trillion and a profit after tax of nearly VNĐ3.2 trillion, representing respective increases of 4 per cent and 3 per cent year-on-year.

 

On the stock market, Petrolimex shares closed last week at VNĐ42,350 per share, up 0.83 per cent from the previous session. — VNS

 

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