Binh Minh Plastics Honored by Forbes Vietnam for 12th Year of Sustainable Growth

Binh Minh Plastics Joint Stock Company (HOSE: BMP), a member of SCG - one of ASEAN’s leading conglomerates - has once again secured a place in Forbes Vietnam’s Top 50 Listed Companies for 2025. This marks the 12th consecutive year the company has received this honor, reaffirming its leadership in Vietnam’s plastic pipe industry and underscoring its strong capacity for sustainable growth and outstanding business performance.

Binh Minh Plastics engages in many activities for both the environment and the community

“Being recognized in Forbes Vietnam’s Top 50 listed companies is a tremendous honor for us. This achievement reflects Binh Minh Plastics’ continuous efforts in pursuing sustainable development, with product quality as the foundation. With positive revenue and profit in 2025, we are committed to developing innovative, high-quality, and environmentally friendly products that create long-term value for our customers, shareholders, and the community,” said Mr. Niwat Athiwattananont, General Director of Binh Minh Plastics.

The Forbes Vietnam Top 50 list is compiled using both quantitative and qualitative criteria. Quantitative indicators include profitability, a minimum revenue threshold of VND500 billion, return on equity (ROE), return on invested capital (ROIC), earnings per share (EPS) growth, and audited financial statements. On the qualitative side, the assessment takes into account the sustainability of the business model, market position, corporate governance standards, and long-term growth potential.

With 3,000 meters of installed water pipes, Binh Minh Plastics and SCG’s Water Supply Project has improved the lives of more than 240 households in Ga Lee village

In 2025, aligned with the Inclusive Green Growth strategy, Binh Minh Plastics Joint Stock Company achieved remarkable milestones. In the second quarter of 2025, the company recorded revenue of more than VND1.308 trillion, up 13% year-on-year. The cost of goods sold increased at a slower pace, allowing gross profit to reach VND610.8 billion, a 21% rise. Gross margin stood at 46.7%, the highest since 2018. Consequently, net profit after tax rose to nearly VND 330 billion, up 18% year-on-year, marking the highest level in the company’s 48-year history.

For the first half of 2025, revenue reached over VND2.691 trillion with nearly VND617 billion in net profit, fulfilling half of the year’s revenue plan and more than 58% of the profit target. If this momentum continues, Binh Minh Plastics is poised to deliver the highest profit in its history. Financial income also rose nearly 50% to over VND25 billion, driven largely by deposit interest as the company increased its bank deposits to VND2.297 trillion from VND1.914 trillion at the start of the year.

By diversifying its product portfolio, Binh Minh Plastics meets the demand for green construction in the Vietnamese market

The strong financial performance enables Binh Minh Plastics to maintain an attractive dividend policy. This year, the company plans to allocate at least 50% of net profit for dividend payouts. In 2024, it paid out up to 99% of profits (over VND981 billion) as cash dividends, equivalent to VND11,990 per share.

Beyond financial success, Binh Minh Plastics continues to affirm its pioneering role in innovation and sustainability. The company continuously diversifies its portfolio of eco-friendly products to meet the growing demand for green construction and sustainable urban development in Vietnam. Notably, Binh Minh Plastics is the first enterprise in Vietnam’s plastics and building materials industry to achieve the highest level of the Singapore Green Building Product (SGBP) certification - ‘Leader’ - for its product lines of PVC-U, PP-R, and HDPE pipes and fittings for drinking water, as well as corrugated PE pipes for wastewater. This marks a significant milestone in the company’s sustainable development journey.

Aligning with the inclusive green growth strategy, Binh Minh Plastics advances effective and sustainable business practices

With this recognition from Forbes Vietnam, Binh Minh Plastics further strengthens its leadership position in the plastic pipe industry. Looking ahead, the company will focus on driving sustainable growth through innovation, green product development, and operational excellence - delivering greater value to shareholders while contributing to Vietnam’s sustainable development.

By Van Luong, Vietnam Business Forum