Leading companies in textiles and steel have just reported results ahead of plan, adding to evidence that domestic manufacturing is recovering in 2026.
Vinatex: annual target beaten with three months to spare
- Consolidated pre-tax profit for nine months reached nearly VND1.47 trillion, up 41% year on year and 6.7% above the full-year target.
- Consolidated net revenue rose 7.6% to about VND14.79 trillion.
- In Q3 alone, gross profit was VND780 billion and pre-tax profit VND540 billion, the second consecutive quarter above VND500 billion. The quarter's gross margin improved to 14.6% from 12.9% a year earlier.
- Yarn was the highlight: nine-month revenue of VND6.66 trillion (up 15.9%) and net profit up 168.1% to VND381.8 billion, with all 12 units profitable.
Vinatex attributed the results to better production management, higher equipment utilisation and flexible responses to changes in selling prices and input costs.
Hoa Sen: FY2025–26 above its high-case plan
- Consolidated after-tax profit for fiscal 2025–26 (1 October 2025–30 September 2026) was VND623 billion (about US$24 million), 4% above its high-case target.
- Consolidated revenue was VND37.74 trillion, 102% of plan; sales volume was 1.79 million tonnes, 97% of plan.
- Book value per share was about VND14,735 at 30 September 2026, after a 30% stock dividend in May.
Hoa Sen credited flexible production, tight control of costs and inventory, and the expansion of its Hoa Sen Home building-materials and interior retail chain to capture domestic demand.
Supportive policy backdrop
- Public investment and construction: construction grew 12.22% in nine months and public investment disbursement reached about 63% of plan by end-September. The remainder due in Q4 should keep supporting demand for steel and materials.
- Exports and GoGlobal: exports rose 24.5% in nine months, and the 2026–2030 GoGlobal programme encourages textile and building-materials firms to build brands and distribution networks abroad.
- Domestic demand: rising incomes and a recovering residential property market support domestic sales of coated steel, steel pipes and apparel.
What to watch
Textiles depend on orders from major markets and the trade policies of importing countries; steel is exposed to global hot-rolled coil prices and trade-defence measures. Margins can move with raw material prices.
vietnamii.com view: Vinatex and Hoa Sen show that traditional manufacturers are running more efficiently, thanks to better management as well as better markets. With public investment and exports both accelerating, this is a positive base for the 2027 outlook.