Ho Chi Minh City, April 29, 2025 – Coteccons Construction Joint Stock Company (HOSE: CTD) today announced its financial results for the third quarter of fiscal year 2025 (Q3FY25). The Company reported a record-breaking total backlog of nearly VND 37 trillion. In a parallel milestone, CTD stock has been officially added to the VNDiamond Index by the Ho Chi Minh Stock Exchange (HOSE) during the April 2025 rebalancing, marking a significant leap in Coteccons’ position in Vietnam’s financial market.
For Q3FY25, Coteccons posted consolidated revenue of VND 5,003 billion, a 7.2% increase year-over-year, driven by accelerated key project delivery and expanded construction output. Cumulatively for the first nine months, revenue reached VND 16,647 billion, up 15.2% over the same period in FY2024. Gross profit remained under pressure due to a 9% increase in cost of goods sold, driven primarily by input cost fluctuations due to macroeconomic impacts and turbulent in the world. Gross profit for the quarter came in at VND 156 billion, while net profit after tax was VND 57 billion. For the nine-month period, gross profit rose 14% to VND 559 billion and net profit after tax rose 5.8% to VND 255 billion. The gross profit margin improved to 3.12%, up from 2.93% in the previous quarter, thanks to cost optimization and improved project execution efficiency.
CTD stock was recently included in the VNDiamond Index by HOSE in the April 2025 review. This marks Coteccons’ entry into this prestigious index after restructuring. This index represents high-quality “blue chip” stocks with high foreign ownership limits (FOL) and is closely tracked by both domestic and international ETFs. Inclusion in the VNDiamond Index signals not only Coteccons’ strong financial progress, but also its improved transparency, governance, and stock liquidity.
Record-High Backlog Lays Solid Foundation for Long-Term Growth
Amidst Vietnam’s economic rebound—with Q1 2025 GDP growth reaching 6.93%, the highest in the 2020–2025 period—public investment disbursement has accelerated, pushing the construction market into a clear recovery. Foreign direct investment (FDI) inflows into manufacturing and real estate sectors in Q1 2025 further create favorable conditions for resilient construction players like Coteccons.
For the first nine months of FY2025, Coteccons secured new contracts totaling approximately VND 23 trillion, raising the total backlog as of Q3FY25 to nearly VND 37 trillion, ensuring a robust workload for upcoming quarters.
In Q3FY25, Coteccons expanded its portfolio with a series of “repeat sales” projects, including the main construction package of The 9 Stellars by SonKim Land and Gia Binh Airport. Notably, repeat projects now account for approximately 69% of newly awarded project value.
Following successful collaborations with Ecopark on projects such as Ecopark Sky Residences, Swan Lake Onsen, and Eco Central Park Vinh, Coteccons has been entrusted with the Eco Retreat Long An project, serving as the contractor for 414 units across Zones 1 and 5.
Additionally, Coteccons is currently executing multiple new projects for Sun Group, including: the Cat Ba Central Bay commercial and tourism complex (low-rise zones C, E, F and shophouse zones D, G, H – kiosks TM1, TM2, TM15, TM16), the Hon Thom – Phu Quoc resort and entertainment complex (Western Village), Olalani Riverside Tower (MEP package), The renovation, upgrade, and new construction project of the Tay Ho Guest House complex; the No. 2 Le Thach project; and the Bai Dat Do Urban Area project in Phu Quoc (construction of components in zones S2, S3, and S4)…
Coteccons also strengthened partnerships with new developers on projects such as: The Global City and The Lake Masteri Lakeside by Masterise Homes, Ray River Resort by Ray River Estates, Ho Nai 2 Industrial Park factory phase 1 by KCN Vietnam, and the Greencans Industries metal can factory.
A notable achievement came from Coteccons’ continued expansion into infrastructure and public investment projects, including participation in the Long Thanh International Airport Phase 1 (Parking Facility) as part of a consortium with CC1 and FECON, and the National University Development Project – HCMC subproject. These mark key milestones in Coteccons’ ability to deliver large-scale, high-specification projects under strict timelines, enhancing its credentials for national-level infrastructure opportunities.
Looking ahead, Coteccons remains firmly committed to its six strategic goals for the 2025–2029 period. The strategy not only aims to solidify Coteccons’ position as an “industry leader” in general contracting in Vietnam, but also to extend its regional presence across civil, industrial, MEP, and sustainable urban development sectors. Driven by a spirit of innovation and a bold vision for the future, Coteccons is building a dynamic, modern corporate ecosystem where economic value goes hand-in-hand with human values.
For the full Q3FY25 financial report, visit: https://www.coteccons.vn/investor-relations-vn/
About Coteccons
Coteccons is one of Vietnam’s leading general contractors, with over 20 years of experience delivering large-scale, complex construction projects. The company is a pioneer in adopting technology and innovation to provide optimal construction solutions, contributing to quality of life and sustainable community development.
