GELEX Group exceeds 2026 profit targets after nine months

GELEX Group (GEX) has reported strong financial results for the first nine months of 2026, surpassing its full-year pre-tax profit target by 8.8%. The group recorded consolidated net revenue of 39,158 billion VND, a 40.5% increase compared to the same period last year, while pre-tax profit reached 3,931 billion VND, up 14.2%.

Key subsidiaries also showed significant growth. GELEX Electric (GEE) saw core profit rise by 32%, driven by demand for electrical equipment for grid upgrades and industrial projects. GELEX Infrastructure (GEL) exceeded its annual pre-tax profit target by 52%, bolstered by the industrial real estate and construction materials sectors. The industrial real estate segment remains a major driver, supported by a rise in realized FDI capital, which reached 21.07 billion USD in the first nine months of the year.

Additionally, VIS Rating has maintained GELEX's long-term issuer credit rating at 'A' with a 'Positive' outlook, citing expectations for continued profit growth, improved cash flow, and strengthening financial indicators.