In the second quarter of 2026, FECON and its member units recorded an additional 3,600 billion VND in contract value and new jobs at many large-scale infrastructure projects, underground works and foundations. Along with continuing to supplement work sources, the business results in the first 6 months of the year of the enterprise also recorded positive changes, with revenue increasing by nearly 50% and after-tax profit significantly higher than the same period in 2025.
Supplementing more than 3,600 billion VND of new work value in Q2
In Q2/2026, FECON and its member units recorded many new contracts and tasks with a total value of more than 3,600 billion VND.
Among them, the most prominent are the bidding packages at Gia Binh Airport Project, with a total value of nearly 1,600 billion VND, accounting for a significant proportion in the new workload of the enterprise. The simultaneous undertaking of many items shows that FECON's operating scope is being expanded from foundation and in-depth foundation treatment to synchronous construction of aviation infrastructure.
Besides Gia Binh airport, the new source of work in the second quarter of FECON also comes from many projects with a diverse work portfolio. Among them, the most prominent are a series of bidding packages with a total value of about 440 billion VND at a series of projects developed by Sun Group; 326 billion VND from two basement construction packages at Tam Anh Hospital in Ho Chi Minh City; more than 300 billion VND at Hancinco Nguyen Xien project and about 290 billion VND at Thu Thiem Administrative Center Project, Ho Chi Minh City and many other bidding packages from member units in the FECON system.
The new contract portfolio not only increases in scale but also has diversity in types of works and deployment locations. This is an important factor helping FECON maintain the source of work in the field of foundations and underground works, while expanding its presence in infrastructure and urban projects with high technical, quality and progress requirements.
Profits increase sharply compared to the same period
In parallel with the addition of new work sources, FECON's business results in the first half of 2026 also recorded positive growth. In the second quarter alone, the enterprise achieved more than VND 1,910 billion in net revenue, up 44% compared to the same period last year. After-tax profit reached more than VND 35 billion, up 118%, significantly higher than the revenue growth rate.
Accumulated in the first 6 months of the year, FECON's revenue reached nearly 3, 213 billion VND, an increase of 50% compared to the same period. Pre-tax profit reached more than 107 billion VND; after-tax profit reached nearly 79 billion VND, a sharp increase compared to the first half of 2025.
The rapid increase in profit shows that the operating efficiency of enterprises is improving. This is a noteworthy sign in the context that construction enterprises are still facing pressure on capital costs, material prices, acceptance progress and debt recovery.
Besides the main contribution from construction and installation activities and providing traditional services, real estate business and transfer also became a bright spot in FECON's revenue structure. In the first 6 months of the year, this segment brought in 117 billion VND in revenue, a significant improvement compared to the same period in 2025. The growth rate of Investment activities has correctly reflected FECON's strategy and has begun to contribute to the overall results of the business.
Along with the improvement in revenue and profit, FECON's asset scale continues to expand. As of the end of Q2/2026, the enterprise's total assets reached 11,105.3 billion VND, an increase of nearly 10% compared to the beginning of the year.
Notably, the long-term asset structure recorded a clear shift: the remaining value of tangible fixed assets increased from 256.9 billion VND to 1,117 billion VND, equivalent to an increase of 334.8%; while unfinished basic construction costs decreased by 85%, from 526.6 billion VND to 79 billion VND. This shift comes from the fact that in the period FECON transferred 859.5 billion VND of completed basic construction value to tangible fixed assets, mainly the Investment Construction and Infrastructure Business Project of Danh Thang - Doan Bai Industrial Cluster (Bac Ninh).
Net cash flow from business activities in 6 months reached positive 172 billion VND, reversing compared to negative 356 billion VND in the same period of 2025. This is a positive sign in the context that construction enterprises are still under pressure on capital costs, material prices, acceptance progress and debt recovery.
The simultaneous improvement in core construction activities and investment segments shows that FECON is gradually expanding its revenue structure, on the basis of combining infrastructure construction capacity, foundations, underground works with investment and project development activities.
With more than 3,600 billion VND in contract value and new work in the second quarter, 6-month profit increased significantly and asset scale exceeded 11-100 billion VND, FECON entered the second half of 2026 with consolidated work and asset capacity. This is the basis for the business to continue to improve operational efficiency and affirm its position in the group of Vietnamese contractors capable of participating in large-scale infrastructure projects, high-tech foundations and complex underground works.
