PetroVietnam General Services Joint Stock : PETROSETCO reaches the Top 20 companies with the most impressive revenue and profit

Top 50 best listed companies in Vietnam is an annual prestigious award conducted by Forbes Vietnam in order to honor enterprises that not only take the lead in their fields of operation but also establish a competitive position in the market. They are those who have the best business and growth results in 2021 and the period 2016-2020. However, it is noticeable that the Covid-19 pandemic also contributed to the list when there are a number of fields experiencing sudden growth in the past year. These colors are shown when 9 among the top 50 companies of this year appear on the list for the first time, including PETROSETCO.

Founded in June 1996, PETROSETCO operates mainly in the fields of catering and tourism services in order to provide services only to the petroleum industry. In 2007, PETROSETCO transformed into a joint stock and listed company, gradually diversifying its business activities.

Currently, PETROSETCO is a distributor of many big brands such as: Samsung, Apple, Microsoft, Dell, Lenovo, Asus ... The company also benefits from the advantage of distributing industrial products in the Oil and Gas industry such as PP plastic beads, liquefied petroleum gas (LPG); supply and logistics services; real estate services; catering services. PETROSETCO is also the agency that supplies, installs and maintains equipment systems for oil and gas exploration, production and processing companies operating in Vietnam and other industries. With the pioneering mission in every action to provide outstanding service quality and ensure optimal benefits for customers, partners and employees, PETROSETCO aims to become the first choice in Vietnam in distribution, trade and service sectors.

In the gloomy economic picture resulted from the severe impact of the Covid-19 pandemic with domestic growth falling to the deepest level in the past 20 years, PETROSETCO's production and business activities in 2021 are a bright spot when achieving consolidated revenue of 17,598 billion VND - the highest in the past 10 years, exceeding 17% of the 2021 plan and growing by 31% over the same period; pre-tax profit reached 415.3 billion VND, exceeding 66% of the plan in 2021 and growing by 201% (2 times) compared to the same period in 2020. After the first 6 months of 2022, PETROSETCO achieved a revenue of 8,700 - 9,000 billion VND, gross profit of the first 6 months is estimated at 160 billion VND, increasing by 6-7% over the same period.

PETROSETCO has completely met Forbes's tough criteria of with its sustainable development, transparent and systematic source of profits, and the increasingly improved administrative quality thanks to successful technological application and innovative mindset… Besides, PETROSETCO as well as the other listed companies are also recognized by this prestigious magazine in terms of their roles in the community through a series of their regular and meaningful social security activities.

In order to enter the list of 50 best listed companies in 2022, companies listed on the HSX and HNX were evaluated through many steps. In the preliminary round, companies need to meet the conditions of having profits in 2021, revenue and market capitalization of at least 500 billion VND; Subsidiaries that depend on the parent companies or have a low business position will not be considered.

In the following round, companies were quantitatively scored on five criteria: compound growth rate in revenue, profit, the rate of ROE, ROC and EPS growth in the period 2017 - 2021. Next, Forbes Viet Nam carried out a qualitative survey to assess the sustainable development of the business in terms of: the company's position in the industry, the source of profits, the quality of corporate governance, the industry outlook...

At this year's Forbes honor ceremony, besides PETROSETCO, there are 3 other members of Vietnam Oil and Gas Group which were honored including: Vietnam Gas Corporation - JSC (PV GAS, stock code: GAS), General Corporation PetroVietnam Chemicals and Fertilizer Company - JSC (PVFCCo, stock code: DPM) and Ca Mau Petroleum Fertilizer Joint Stock Company (PVCFC, stock code: DCM). Forbes' honor ceremony recognizes the results of the continuous process of innovation and creativity to create the enterprises' prosperous and sustainable values, affirming great contributions that these units have been making to the socio-economic development of localities, regions and the whole country.