Searefico targets breakthrough growth in 2025

Searefico targets breakthrough growth in 2025

Riding on a record-breaking project backlog of over VND3 trillion ($120 million), Searefico, one of the Vietnam’s leading established mechanical and electrical groups, is setting its sights on a year of transformative growth in 2025.

According to company chairman Le Tan Phuoc, at its upcoming AGM on April 24, the company will unveil a bold roadmap to double revenue, marking a turning point in the company’s trajectory.

Over the past two years, Searefico has deliberately shifted away from volume-based expansion to focus on high-tech, high-value projects such as smart warehouses, automated manufacturing facilities, and green industrial complexes. These sophisticated projects demand advanced engineering capabilities and complex interdisciplinary coordination, strengths that Searefico has been cultivating as it positions itself as a premier player in Vietnam’s mechanical electrical plumbing and industrial refrigeration sectors.

“2025 is not just a year to accelerate. It’s a year to lead,” said Phuoc. “Searefico is determined to set the benchmark for engineering and technological excellence in Vietnam. Our growth is rooted in technical strength, a highly capable team, and a clear strategic vision,” he said.

According to the plan submitted to shareholders, Searefico aims to achieve a revenue of $88 million (double the previous year), after-tax profit of $1.56 million (a 3.5-fold increase), and contracted sales of $108 million for 2025.

In late 2024, Searefico signed a strategic cooperation agreement with Hoshizaki, Japan’s leading refrigeration equipment brand. As part of the deal, Searefico's subsidiary Arico became the first Vietnamese company licensed to manufacture Hoshizaki-branded products for Southeast Asia.

Searefico's subsidiary Arico became the first Vietnamese company licensed to manufacture Hoshizaki-branded products for Southeast Asia

Another group member, Greenpan, made history as the first Vietnamese company to achieve an FM approved certificate (a global certification mark from the industrial insurance company FM Global) from the United States, qualifying its insulation materials for international use.

Meanwhile, the group’s logistics arm Searee launched its Danang warehouse hub in March last year and reached full operating capacity within months. The group is also developing a multi-story factory that meets EDGE and LEED green building standards, an emerging model expected to gain traction amid rising land scarcity in industrial zones.

Searefico has also made progress on financial clean-up efforts. Despite ongoing restructuring, the company reported over VND1 trillion ($40 million) in revenue in 2024 and returned to profitability, while reducing audit exceptions by 40 per cent compared to the previous year.

“We are not chasing growth at any cost,” said CEO Nguyen Khoa Dang. “Our priority is controlled, sustainable expansion, selecting the right projects at the right time and delivering them with precision,” Dang said.

VIR