EVN clears losses and estimates 0 5 billion profit in first eight months
Vietnam Electricity has cleared all accumulated losses from previous years and is estimated to have posted a profit of over VND12 2 trillion 480 million in the first eight months of the year
In a meeting on September 15, Vietnam Electricity's (EVN) chairman, Dang Hoang An, revealed that the company had eliminated its accumulated losses and turned a profit during the first eight months of 2025. The previous 2022-2023 period had been difficult for EVN, with losses of around $1.9 billion due to insufficient reflection of generation and supply costs in retail electricity prices. However, by the end of 2024, the group had returned to profitability, with losses reduced to around $1.3 billion.
EVN's revenue in the first half of 2025 reached over $18.9 billion, surpassing the annual plan by 70 percent. The company's estimated profit for the year stood at $479 million, which was 103 percent of the target. EVN is expected to contribute over $1 billion to the state budget for the full year.
The company aims to rank among the Fortune Global 500's top three Vietnamese corporations by 2030, targeting a high position in the ranking. To achieve this, EVN is investing in building a stronger, larger-scale group, improving its scientific and technological capabilities, and enhancing competitiveness. In the coming years, the power system will require substantial investment, estimated at around $32 billion through 2030.
EVN has been assigned to invest in and complete approximately 6,066 MW of generation capacity, along with 1,700 MW of energy storage systems.
Rapid growth in electricity demand is one of the sector's key challenges, with new generation projects progressing at varying speeds among investors. Some private and foreign projects have lagged behind schedule, potentially impacting the system's ability to meet the national power development plan's capacity targets. EVN proposes studying mechanisms to attract private and other social-sector resources into transmission infrastructure investment to ease its capital requirements.
During the meeting, Deputy Prime Minister Pham Gia Tuc emphasized that EVN should continue playing a core role in ensuring national energy security and reorganize its operations around clearly defined pillars aligned with its development strategy. EVN should also strengthen competitiveness and operational efficiency, accelerate the development of rooftop solar power, wind power, and energy storage systems, and ensure that transmission infrastructure is developed ahead of generation capacity.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
