Coteccons (CTD) reports highest quarterly profit in 5 years

Coteccons (CTD) reports highest quarterly profit in 5 years

Coteccons Construction JSC (HOSE: CTD) has reported its strongest quarterly performance in five years, with both revenue and profit rising sharply in the first quarter of fiscal year 2026 ending September 2025.

Coteccons posts record first-quarter profit, supported by strong revenue growth and a huge order backlog. — Photo courtesy of the firm

Its consolidated net revenues were VNĐ7.45 trillion (US$282.9 million), up 56.6 per cent year-on-year.

Gross profit rose by almost the same rate to VND 322 billion ($12.2 million), the highest since 2020, maintaining a gross margin of 4.32 per cent, unchanged from last year.  

Profit after tax surged 216.7 per cent to VNĐ294 billion ($11.2 million), and the net profit margin was 3.95 per cent, the highest in 21 quarters.

Coteccons said the results reflected its ability to control costs and improve operational efficiency despite rising material and labour costs and fierce competition in the construction sector.

As of the end of September, it had secured VNĐ19.3 trillion ($733 million) in new contracts, lifting its order backlog to a record VNĐ51.6 trillion ($1.96 billion), surpassing last year’s peak. 

This solid foundation not only supports the FY2026 business plan but also ensures a robust pipeline for the years to come. 

Repeat customers remained a major strength, accounting for 95.3 per cent of new contracts.

Major ongoing and new projects include developments by Sun Group, Masterise Homes, Vinhomes, Ecopark, and TTC Land.

The order book also includes two key national infrastructure and public investment projects, passenger terminal T2 at the Phú Quốc International Airport and the APEC Conference Centre (S2, S3, S4), worth over VNĐ5 trillion.

One of the most iconic projects this quarter is the West Lake Opera House, a cultural landmark built by Sun Group and designed by Italian architect Renzo Piano, known as one of the most influential of the 20th century.

Coteccons was recently named among the Top 500 Profitable Companies in Vietnam 2025 (PROFIT500) by Vietnam Report and VietnamNet, marking a remarkable rise of 53 places from last year. 

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