Engineered stone maker Vicostone JSC has reported its estimated business results for the fourth quarter and full year of 2025, navigating a year marked by global uncertainty as a challenging macroeconomic environment continued to weigh on demand in key overseas markets.

Vicostone said its revenue in 2025 fell 4.5 per cent from a year earlier to more than VNĐ4.12 trillion, while fourth-quarter revenue exceeded VNĐ1 trillion.

Pre-tax profit for the full year dropped 12.7 per cent to over VNĐ832 billion, the company said, with fourth-quarter pre-tax profit coming in at more than VNĐ224 billion.

The company said global economic conditions in 2025 remained volatile as armed conflicts persisted in several regions, trade tensions intensified and protectionist policies, particularly in the US, further fragmented global supply chains. Climate change and natural disasters also continued to disrupt energy and food security worldwide.

Despite those pressures, inflation in many countries showed signs of easing, while governments adjusted macroeconomic policies to support growth. Financial conditions gradually improved, supported by optimism over the adoption of new technologies, Vicostone said.

The year marked a turning point in global monetary policy as major central banks shifted from aggressive tightening to easing cycles in an effort to engineer a soft landing. The US Federal Reserve cut interest rates three times in 2025, most recently on December 10, lowering its benchmark rate range to 3.5–3.75 per cent.

In Europe, the European Central Bank reduced interest rates in the first half of the year, bringing its deposit rate to 2 per cent in June and holding it there, reflecting confidence that inflation was cooling sustainably. The Bank of England also cut rates four times, lowering its benchmark rate to 3.75 per cent on December 18 from 4.75 per cent at the end of 2024.

Vicostone said its production and business performance was significantly affected by these global trends, particularly in North America and Europe, its core export markets. The real estate and housing construction sectors in those regions continued to struggle as high property prices, rising material costs and higher labour expenses dampened consumer demand.

The company said weaker demand reduced new construction and renovation activity, weighing on investment decisions and squeezing profit margins across the real estate sector.

It added that the results reflected its efforts to navigate volatile global economic conditions over the past year, particularly by expanding export markets, developing new products and strengthening financial governance.

The national flag made of Vicostone quartz artificial stone is displayed at thenational achievement exhibition.

According to Vicostone, 2026 is expected to remain marked by complex and unpredictable global economic conditions, including the continued restructuring of global supply chains and rising protectionism. Major economies such as the US, Europe and China are likely to continue adjusting policies and development strategies to safeguard national interests and enhance competitiveness.

Against that backdrop, Việt Nam is accelerating shifts in its production structure and positioning itself as a more important link in regional and global supply chains, Vicostone said.

However, it cautioned that the construction materials sector, including the engineered quartz stone segment, will continue to face challenges stemming from market conditions, policy changes and international competition.

The firm said it plans to manage production and business operations cautiously in 2026, developing flexible scenarios to respond to market volatility while seeking sustainable growth opportunities based on the company’s existing foundations. — VNS

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