AIG H1 2026 Net Profit Surges 72% to VND 844B on Strong Export Sales

Overview

AIG (Nguyên liệu Á Châu) reported strong H1 2026 financial results, with net profit surging 72.4% to nearly VND 844 billion on revenue of over VND 8,221 billion, up 17.8% year-on-year. The earnings beat was driven by improved sales volumes and lower raw material costs, with export revenue jumping 49% to VND 1,724 billion. The company’s gross margin expanded to 19.5% from 15.2% a year earlier.

Key Facts

• H1 2026 consolidated net profit reached VND 844 billion, up 72.4% year-on-year.
• H1 2026 consolidated revenue reached VND 8,221 billion, up 17.8% year-on-year.
• Q2 2026 net profit was VND 446 billion, up 88% from Q2 2025.
• Export revenue in H1 2026 was VND 1,724 billion, up 49% year-on-year, accounting for 21% of total revenue.
• Gross margin improved to 19.5% in H1 2026 from 15.2% in H1 2025.
• Net profit margin reached 10.3% in H1 2026, up from 7.0% a year earlier.
• Cash and bank deposits totaled VND 2,926 billion as of June 30, 2026, representing 23.6% of total assets of VND 12,385 billion.
• Operating cash flow in H1 2026 was positive VND 941 billion, versus negative cash flow in the prior-year period.

What Happened

AIG (Công ty Cổ phần Nguyên liệu Á Châu) released its consolidated financial statements for the second quarter and first half of 2026. The company reported that Q2 2026 net profit rose 88% year-on-year to nearly VND 446 billion, while revenue increased 17% to over VND 4,237 billion. According to AIG’s management, the profit surge was driven by improved sales volumes and a decline in raw material input costs. Gross profit grew approximately 59% in the quarter, significantly outpacing revenue growth.

For the first six months of 2026, AIG achieved 49% of its full-year revenue target and 67% of its net profit target. Profit attributable to parent company shareholders reached nearly VND 674 billion, up 66% year-on-year. The company highlighted that export revenue averaged about VND 9.5 billion per day, with key markets including North America, Europe, China, and other regional countries. AIG’s core products include processed coconut products (dried coconut, coconut milk, coconut cream, coconut oil, coconut water), aloe vera, coconut jelly, tropical fruits, essential oils, and ingredients for food, beverage, pharmaceutical, and health care industries.

Market Context

AIG shares closed at VND 52,000 on July 30, 2026, on the UPCOM exchange. The company operates in the consumer staples sector, specifically processed agricultural exports. The strong earnings beat comes amid favorable global demand for coconut-based and tropical fruit products, as well as easing input costs. AIG’s cash-rich balance sheet (23.6% of assets in cash and deposits) provides financial flexibility. The stock’s valuation may reflect the improved profitability and export growth trajectory.

Strategic Significance

AIG’s H1 2026 results demonstrate successful execution of its deep-processing agricultural export strategy, with export revenue growing nearly 50% and margins expanding significantly. The integration of GC Food (aloe vera and coconut jelly) and the coconut processing subsidiary has driven operational synergies. The company’s strong cash position and positive operating cash flow suggest it can self-fund expansion or pursue strategic acquisitions. The shift toward higher-margin processed products and geographic diversification reduces dependence on any single market. The 49% export revenue growth indicates robust demand from developed markets, which could support sustained earnings momentum.

What to Watch

• Q3 2026 earnings release to confirm sustained margin expansion and export growth.
• Raw material price trends for coconut and other inputs, which could impact gross margins.
• Any new export contracts or market expansions, particularly in North America and Europe.
• Capital allocation decisions given the large cash balance (potential M&A, dividends, or capacity expansion).
• Full-year 2026 guidance achievement, especially the remaining 51% of revenue target and 33% of profit target.