Ho Chi Minh City, January 30, 2026 – Coteccons Construction Joint Stock Company (HOSE: CTD) announces its business results for the second quarter of fiscal year 2026 (accounting period from October 1, 2025 to December 31, 2025), continuing to deliver strong growth in both revenue and profit.
The consolidated results for Q2 and the first six months of FY2026 are as follows:
Net revenue for Q2 reached VND 10,007 billion, an increase of ~45% YoY (vs. VND 6,886 billion). Six-month accumulated revenue reached VND 17,459 billion, up ~50% (vs. VND 11,645 billion), completing ~58% of the FY2026 Annual Operating Plan (AOP FY26).
Gross profit for Q2 reached VND 371 billion, the highest level over the past 28 quarters, representing an ~84% increase YoY (vs. VND 202 billion). Gross profit for the first half of the fiscal year reached VND 693 billion, up ~72% (vs. VND 403 billion).
Net profit after tax for Q2 reached VND 228 billion, up ~115% YoY (vs. VND 106 billion). Six‑month accumulated net profit reached VND 523 billion, an increase of ~165% YoY (vs. VND 198 billion), achieving ~75% of AOP FY26.
Net profit margin for Q2 reached 2.28% (+0.73 percentage points YoY); six‑month net profit margin reached 2.99% (+1.30 percentage points YoY).
These positive results stem from Coteccons’ consistent execution of the six strategic priorities set at the beginning of the fiscal year, notably Strategic Pillar No. 4: Effectively improve profit margin through cost optimization and revenue scaling. Within this pillar, the Supply Chain Division plays a pivotal role in improving financial efficiency through three key initiatives: (1) Purchasing centralization, (2) Selective and strategic partnerships with srong brands, and (3) Digitalization of procedures to enhance speed and transparency.
The SG&A-to-Revenue ratio for the first six months decreased from 1.88% to 1.55%, thanks to the Operations Division’s disciplined execution of the ‘saving mode’ strategy -focused on smart spending and resource optimization rather than mechanical cost-cutting, thereby enhancing overall operational efficiency.
Notably, FiinRatings (S&P Global Ratings) recently affirmed Coteccons’ credit rating at BBB+ with a ‘Stable’ outlook. This is the highest rating within Group 4 of its rating scale, which Coteccons has maintained since September 2024. According to the report, Coteccons’ liquidity position is assessed as ‘Good’, with forecasted Supply/Uses of Liquidity ratios of 1.73x in 2026 and 1.61x in 2027, indicating strong short‑term financial resilience even as the Company’s rapid scale expansion exerts mild liquidity pressure.
Record-High Backlog Reaffirmed
New contract wins in Q2 of FY2026 totaled VND 18,000 billion, bringing Coteccons’ backlog at the end of Q2 to VND 62,500 billion – the highest level in the Company’s history.
The ‘repeat sales’ ratio reached 94% in the first half of FY25/26, reflecting clients’ growing confidence in Coteccons’ consistent execution capabilities and construction quality.
Mr. Bolat Duisenov, Chairman of Coteccons, emphasized:
“Q2 demonstrates that Coteccons is moving in the right direction, and we will remain steadfast on this path. Operational efficiency, transparency in every decision, and discipline in project selection form the foundation of the Company’s competitive strength. We do not pursue growth at all costs; Coteccons prioritizes high‑quality projects with controlled risks that deliver real value to our clients and shareholders. The growing backlog and the exceptionally high repeat‑sales ratio clearly show that the market recognizes this transformation. Our goal is to build a Coteccons with a strong organizational capability, a proactive supply chain, and a governance system that can support a much larger scale of operations in the near future.”
The infrastructure segment also recorded clear momentum, with several large-scale, international‑standard projects awarded. This marks the emergence of a new business segment aligned with Coteccons’ diversification strategy while reducing dependence on traditional segments.
Projects by Vingroup
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In addition, Coteccons continues to reinforce its position as a reputable general contractor in the civil and commercial construction segment, with a portfolio of major projects such as:
Projects by Masterise
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Projects by Vingroup
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Project by MIK
Project by Nhat Quang (constructed by Unicons)
Project by A Chau School (constructed by Unicons)
With a solid financial foundation, a clear growth strategy, and proven execution capabilities across multiple nationally significant projects, Coteccons remains steadfast in its ambition to become an ‘Industry Leader’ – defined by our dual mission: setting new benchmarks – leading industry trends, and advancing sustainable value. We believe that every project is more than a construction product; it is Coteccons’ long‑term commitment to the community – enhancing quality of life, supporting urban development, and building a prosperous future for Vietnam.
Detailed financial statements for Q2 FY2026 are available at:
https://www.coteccons.vn/investor-relations-vn/
About Coteccons
Coteccons is Vietnam’s leading contractor, with more than 21 years of experience delivering large‑scale and complex projects. The Company is a pioneer in applying advanced technologies and innovative solutions to optimize construction efficiency, contributing to improved living standards and sustainable community development.
