EVN makes a sudden profit, bank deposits reach 152.443 billion VND
According to the report, EVN's net revenue reached more than 645,000 billion VND, an increase of more than 11% compared to 2024. After-tax profit reached nearly 51,882 billion VND, more than 6 times higher than the previous year. Thanks to this breakthrough business result, the group wiped out accumulated losses of more than 38,688 billion VND recorded at the beginning of the year, and at the same time turned undistributed after-tax profit from negative to positive of more than 5,533 billion VND by the end of 2025.
This is considered a remarkable turning point for EVN after a difficult period. In the two years 2022-2023, the group continuously recorded losses due to sharp increases in input fuel prices, causing accumulated losses at times to reach nearly 47,000 billion VND.
The biggest driving force for EVN's record profit comes from electricity business activities. In 2025, electricity sales revenue reached more than VND 630,000 billion, an increase of more than VND 64,000 billion compared to the previous year. Meanwhile, the cost of electricity only increased by nearly VND 18,360 billion, equivalent to an increase of more than 3%.
The gap between revenue growth rate and input costs has significantly improved business efficiency. EVN's gross profit increased from 49.588 billion VND in 2024 to more than 96.351 billion VND in 2025, an increase of 46.763 billion VND after only one year. This is the most important factor contributing to the group's sudden profit results.
Notably, EVN also owns a very large amount of cash and bank deposits. As of the end of 2025, the group's consolidated total assets reached more than 783,089 billion VND, an increase of nearly 16% compared to the beginning of the year. In the asset structure, there are 20,055 billion VND of cash and cash equivalents, including demand deposits and term deposits under 3 months, an increase of nearly 17% compared to the beginning of the year. In addition, the amount of term deposits at banks reached 132,388 billion VND, an increase of about 78%.
Thus, the total amount of bank deposits for EVN's terms reached 152.443 billion VND by the end of 2025.
Large deposits not only help EVN maintain liquidity but also bring in significant financial revenue. Deposit interest, bonds and investment entrustment alone contributed more than 3,000 billion VND in 2025.
Still under great pressure from debt and exchange rates
Although the financial situation has clearly improved, EVN is still operating with a very large scale of borrowing. EVN's payables at the end of 2025 are still high, up to 523.450 billion VND, an increase of more than 10% compared to the beginning of the year. Of which, short-term debt accounts for 227.246 billion VND, the rest is long-term debt.
The group's outstanding loans and financial leases alone reached more than 341,566 billion VND, an increase of more than 17,260 billion VND compared to the beginning of the year. Most are long-term loans serving investment in power sources and grid lines.
This debt volume makes EVN's loan interest expenses continue to be high, reaching 16,647 billion VND in 2025, equivalent to more than 45 billion VND per day.
Exchange rate pressure has not decreased either. The report shows that the exchange rate difference loss in 2025 reached 6,953 billion VND, an increase of more than 2,148 billion VND compared to the previous year.
EVN said that there are still some expenses that have not been finalized. According to the group, some power plants have not yet agreed on the plan to allocate exchange rate differences, foreign currency loans and electricity purchase and sale prices according to contracts, so some related expenses have not been recorded.
For gas power plants in Phu My and Ca Mau, gas transportation costs are still accounted for according to the provisional price. When competent authorities issue official unit prices, EVN's electricity purchase costs can be adjusted accordingly.
