BSPPT exceeded the production and business plan for the first 6 months of 2025

In the context of the Vietnamese economy facing many challenges such as inflationary pressure, increasing operating costs and increasingly fierce competition in the supply chain, ensuring stable growth is not an easy task for any business. For a diversified business like Binh Son Petroleum Packaging and Trading Joint Stock Company (BSPPT), such fluctuations make the production and business problem even more complicated.

BSPPT’s Board of Directors held a meeting to review the business performance of the first 6 months of 2025

However, amidst the intertwined difficulties and opportunities, BSPPT has demonstrated its strong adaptability and decisive and creative management capabilities. Recently, at the meeting of the Company’s Board of Directors on the preliminary summary of production and business results for the first 6 months of 2025, a positive picture was shown: Most key targets exceeded the set plan, creating solid growth momentum for the whole year.

Along with closely following market developments, synchronously and promptly implementing management solutions and increasing cost savings, BSPPT’s production and business results in the first half of 2025 have achieved many successes. Specifically: Total revenue in the first 6 months of the year reached 690.2 billion VND, exceeding the plan by 11.8%, reaching 55.8% of the yearly plan and nearly doubling compared to the same period last year. Pre-tax profit reached 140.8% of the plan and equal to 105.5% compared to the same period in 2024. After-tax profit exceeded 42.6% of the plan and increased by 6.9% compared to the same period. Notably, in the first half of 2025, BSPPT paid the State budget 7.3 billion VND, exceeding the plan by 15.2% and reaching 57.6% of the yearly plan.

These telling figures are clear evidence of the Company’s flexible production and business strategy, effective financial management and accurate market orientation of the Company’s leadership.

Packaging production and business activities continue to play a key role, with revenue of VND 48.3 billion in the first 6 months of the year, reaching 112.9% of the plan. Although the output of agricultural product bags decreased compared to the same period due to many objective factors, the product line of plastic granule bags – the main product supplied to Dung Quat Oil Refinery – grew strongly, with an output of 4 million bags, exceeding the 6-month plan by 21.2%, reaching 60.6% of the 2025 plan and 160% compared to the same period in 2024. Gross profit margin/revenue reached 26.48%, significantly higher than the same period, reflecting the ability to control cost of goods sold and reasonable product structure.

Packaging production and trading continue to play a pivotal role in stabilizing revenue.

Trading activities focused on three main products including plastic granules, wooden pallets and LPG recorded revenue of VND 596.41 billion, up 115.5% over the same period. In particular, PP plastic granules consumption output in the first 6 months of the year reached 19,376 tons; 1.8 times higher than the same period last year and exceeding the plan by 7.6%. Although the profit margin of the commercial sector is not high, thanks to its large scale and optimized logistics, BSPPT still achieved a gross profit of VND 5.98 billion, exceeding the plan by 15.4%.

Although the logistics service segment accounts for a smaller proportion, it continues to show sustainable potential. Revenue in the first 6 months of the year reached 42.5 billion VND, exceeding the plan by 19.3%. In particular, revenue from ancillary services such as laundry, bicycle rental, insect treatment, etc. increased sharply, reaching 172.1% compared to the 6-month plan.

In the first 6 months of 2025, BSPPT will export 60,000 wooden pallet products

Governance – Innovation – Unity: The Key Trio Leading to Success

BSPPT’s breakthrough beyond plan in the first 6 months of 2025 comes not only from revenue figures, but also from a modern management platform and continuous innovation.

First of all, the Company’s management has taken strategic steps in restructuring the product portfolio, focusing on items with good profit margins and clear market potential. Investment decisions to expand the provision of operation and maintenance (O&M) services, promote cooperation and consumption of new products from Dung Quat Oil Refinery (such as sulfur pastilles, new PP plastic granules…) contribute to increasing the Company’s revenue. Along with that, investment in new means of transport, upgrading the logistics sevice system, etc. are deployed at the right time and in the right direction, contributing to increasing the efficiency of the entire system.

Second, financial management is implemented systematically, focusing on cost reduction, increasing labor productivity and ensuring effective capital use. Average labor productivity increased by 13.5% compared to the same period in 2024, demonstrating effective human resource coordination and work optimization.

Third, BSPPT constantly improves the lives of workers, with average income increasing. This not only affirms the harmonious sharing of benefits between businesses and workers, but also serves as a basis for strengthening corporate culture and enhancing internal cohesion.

BSPPT constantly innovates its business strategy, expanding the consumption of new products to increase commercial value. In the photo is BSR’s sulfur pastilles product (Sulfur Pastilles)

Ready for the next stage

With impressive growth momentum in the first 6 months of the year, BSPPT continues to implement many production and business solutions to comprehensively complete the 2025 plan.

BSPPT promotes the expansion of Operation and Maintenance (O&M) service provision

BSPPT aims to continue accelerating in the third quarter to create momentum for the comprehensive completion of the annual plan. With the synchronous implementation of many solutions such as promptly developing plans to proactively respond to market fluctuations; strengthening governance, increasing savings, and combating waste… In particular, BSPPT’s board of directors identifies 2025 as the Company’s breakthrough year, so it always focuses on continuing to promote research, innovation, and promoting technical improvement initiatives to improve labor productivity, boost production efficiency in parallel with building and developing corporate culture, especially developing a culture of innovation to maximize internal strength; building a working environment that promotes innovative thinking, daring to think, daring to do.

The goal of striving to turn BSPPT into a trillion-dollar company does not come from subjectivity, but is based on the proven implementation foundation in the first 6 months of the year: proactive production organization, flexibility in responding to the market, and the spirit of continuous innovation throughout the entire system.

The breakthrough beyond the plan is not only an achievement, but also a strong affirmation that: with a clear strategy, flexible apparatus and persistent innovation spirit, what BSPPT has done today is the foundation for a successful 2025, and at the same time a springboard for a more stable and sustainable development period in the coming years.Sự bứt phá vượt kế hoạch không chỉ là thành tích, mà là lời khẳng định vững chắc rằng: với chiến lược rõ ràng, bộ máy linh hoạt và tinh thần đổi mới bền bỉ những gì BSPPT làm được hôm nay là nền tảng cho một năm 2025 thành công, đồng thời là bàn đạp cho giai đoạn phát triển ổn định, bền vững hơn trong những năm tới.

BSPPT