GDA – Focusing on the domestic market, initial steps for the listing plan
• In Q1 2025, GDA recorded revenue of VND 3,977 billion (-3% YoY, -2% QoQ), with stable sales volume compared to the same period last year, reaching 197 thousand tons (-3% YoY, -1% QoQ). However, compared to the first half of 2024, when the export market had not yet been impacted by protectionist policies, GDA shifted its order allocation towards the domestic market in 2025. This resulted in a domestic sales volume of 117 thousand tons (ranking second in market share and accounting for 16% of the total domestic coated steel output). Gross profit reached VND 282 billion (-19% YoY, +54% QoQ), and the company’s net profit after tax (NPAT) amounted to VND 63 billion (-34% YoY, +194% QoQ).• The company plans to distribute a 2024 dividend in cash at a rate of 10% (VND 1,000 per share), and in shares dividend of 30% (100 shares entitled to 30 new shares). GDA maintains its plan to construct a new coated steel plant (with a capacity of 1.2 million tons per year), with Phase 1 expected to commence operations in 2026.
• Notably, at the Annual General Meeting of Shareholders, the company presented to a plan to transfer its listing to the Ho Chi Minh Stock Exchange (HOSE), although no timeline was specified. This indicates that GDA has taken initial steps towards listing and is laying the foundation to enhance its visibility among investors in the stock market.
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