911 Group (NO1) Q4 2025 earnings summary

Executive summary

• Net revenue in 2025 reached VND 1,077.8 billion, up 30.1% year-over-year, exceeding the plan by 18.6%.

• Profit after tax was VND 6.9 billion, down 56% from 2024, mainly due to rising input and management costs.

• Total assets grew over 50% to VND 807.9 billion, reflecting business expansion and investment in subsidiaries.

• The company established two new subsidiaries in 2025, diversifying into transport and technical services.

• Dividend payout ratio for 2025 was 79.84%.

Financial highlights

• Net revenue: VND 1,077.8 billion (up 30.1% YoY).

• Profit after tax: VND 6.9 billion (down 56% YoY).

• Total assets: VND 807.9 billion (up 50.2% YoY).

• Debt to equity ratio increased to 1.352 from 0.709 in 2024.

• Net profit margin dropped to 0.7% from 2.24% in 2024.

Outlook and guidance

• 2026 revenue target set at VND 880 billion, focusing on green solutions and digitalization.

• Strategic expansion into electric taxi services in major southern cities.

• Continued investment in technology, human resources, and renewable energy equipment.