Key company of GELEX group reports profit increase of 127% to 1,200 billion, plans to distribute over 800 billion as cash dividends at a rate of 140% for 2024 and 2025

Vietnam Electric Cable Corporation (Cadivi, stock code CAV) has reported impressive business results. In 2024, consolidated revenue reached 13,102 billion VND, up 30% from 2023, with a pre-tax profit increase of 127% to 1,202 billion VND. For 2025, Cadivi expects revenue to reach 14,245 billion VND, with a pre-tax profit of 1,271 billion VND, representing nearly a 6% increase compared to 2024. Notably, Cadivi proposed to raise its cash dividend payout ratio from 50% to 140% for 2024, amounting to 805 billion VND, and maintain the same 140% in 2025. The parent company is Gelex Electric (GEX), which holds 78.7% of the charter capital, while Cadivi is a subsidiary with 97.09%. Cadivi is recognized as the “golden egg-laying hen” for Gelex Electric thanks to stable revenue and profit margins in the Vietnamese cable and wire manufacturing industry.