In Q1 2025, SBA reported significant differences in business results compared to Q1 2024. Revenue in Q1 2025 reached 200 billion VND, a 20% increase year-on-year, thanks to market expansion and increased orders from major customers. However, the cost of goods sold also rose sharply, accounting for 70% of revenue, primarily due to rising raw material costs and increased labor to meet production demand.
Despite gross profit increasing to 60 billion VND, pre-tax profit only rose slightly by 15%, mainly due to higher-than-expected administrative costs. The company invested in new technology and improved operational processes to optimize costs in the future.
SBA’s leadership believes that to maintain sustainable growth, the company needs to continue innovating and expanding markets while closely controlling costs.
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