Ambitious profit goals and IPO wave signal confidence

Ambitious profit goals and IPO wave signal confidence

Listed Vietnamese companies are entering 2026 with ambitious growth plans, including sharply higher profit targets and a wave of IPOs, signalling growing confidence in both corporate earnings and stock market prospects

Following a solid 2025, real estate companies have set optimistic targets for 2026, particularly with profit expectations projected to grow strongly – some even aiming to double compared to the previous year.

Khang Dien House Trading and Investment JSC is among the real estate firms that announced its 2026 plan early.

During a briefing with investors and shareholders in January, the company’s leadership said it expects net profit to reach $80 million this year, double the level in 2025.

Many firms look for upbeat business picture in 2026

The main growth driver will come from the Gladia by the Waters high-end villa project, covering 11.8 hectares on Vo Chi Cong street in Binh Trung ward, Ho Chi Minh City.

The scheme is a joint venture with Keppel, a major developer from Singapore, in which Khang Dien holds a 51 per cent stake.

The company expects to complete sales and count profits from low-rise products at this venture while continuing to sell remaining inventory from several existing developments in Ho Chi Minh City.

Another real estate developer, Taseco Land, also expects strong business growth in 2026.

Specifically, Taseco Land targets revenue of approximately $480 million and after-tax profit of about $120 million. These figures are respectively three times and five times higher than its results in 2025.

According to analysts at Viet Dragon Securities, the real estate sector is expected to record outstanding growth this year.

In addition to the assumption of cyclical asset price increases, the resolution of legal bottlenecks over the past two years has allowed many projects to resume construction and sales in 2025, laying the groundwork for continued sales, handovers, and revenue recognition in 2026.

Profits across the real estate sector are estimated to grow by around 26.1 per cent on-year.

Alongside property developers, several major players in the retail and consumer sectors have also set new ambitious targets, reflecting confidence in the market’s recovery in 2026.

For instance, consumer electronics major Mobile World Investment Corporation (MWG) has scheduled its 2026 AGM for April 18, where the company’s annual business plan will be submitted for shareholder approval.

Earlier, according to a resolution of its board of directors, MWG set 2026 targets of about $7.4 billion in net revenue and about $368 million in consolidated after-tax profit. These figures represent increases of 18 per cent and 30 per cent, respectively, compared to the previous year.

Within MWG’s strategic orientation, the Dien May Xanh chain will remain a key pillar, expected to contribute about 65 per cent of revenue and 80 per cent of profit.

Meanwhile, the food and consumer goods retail segment – operated through the Bach Hoa Xanh chain – is projected to account for roughly 30 per cent of revenue and nearly 20 per cent of profit.

At FPT Digital Retail JSC, the company’s profit target is also set to rise 27 per cent compared with its 2025 performance, aiming for earnings of around $62 million. The Long Chau Pharmacy network continues to play a key role as the primary profit driver, leading the company’s growth momentum.

Alongside ambitious revenue and profit targets, a series of major deals are also expected to enter the market this year through IPO plans.

One of the most notable is the IPO plan from MWG. It intends to launch an IPO for the Dien May Xanh chain and list its shares in 2026, followed by an IPO of the Bach Hoa Xanh chain two years later.

Another IPO plan comes from a subsidiary of steel major Hoa Sen Group. The company is planning to list the Hoa Sen Home chain, which specialises in distributing construction materials and interior products.

At the same time, a subsidiary operating in plastics and steel pipes – Hoa Sen Plastics – is also included in the parent company’s IPO roadmap.

In the securities sector, following IPO deals by VPS Securities, VPBank Securities, and Techcom Securities at the end of 2025, shareholders of LPBank Securities have recently approved a new IPO plan.

Specifically, LPBank Securities plans to offer more than 141.86 million shares, equivalent to 11.19 per cent of its outstanding shares, at a price of about $1.2 per share.

The IPO is expected to take place in 2026. Upon completion, the company’s charter capital will increase to approximately $560 million, and its shares will be listed on the Ho Chi Minh Stock Exchange.

If these plans proceed as scheduled, 2026 could mark a stronger phase for Vietnam’s listed corporate sector while supporting a broader recovery in the stock market.

VIR