PV Gas targets 2022 after-tax profit at over VND7 trillion, down 20%

Due to the impact of pandemic and energy transition, after-tax profit was expected to reduce by 20% to VND7,039 billion.

The firm may face difficulties this year due to the complicated situation of the COVID-19 pandemic. In addition, challenges also come from the trend of the energy transition, price fluctuations of petroleum products, increasing renewable energy sources, and reducing gas mobilization for electricity production.

In the first month of 2022, PV Gas estimated revenue of VND8,481 billion, exceeding 29% of the monthly plan and growing by 42% over the same period of last year. Pre-tax profit was estimated at more than VND1,000 billion, exceeding 29% of the monthly plan and increasing 11% over the same period.

In 2021, revenue increased by 23% to VND78,992 billion, mostly from gas sales and transportation. After-tax profit increased by 11% to nearly VND8,852 billion and fulfilled 126% of the year plan.