Binh Minh Plastic (BMP) Q2 Net Profit Hits Record 367 Billion VND, Up 11% YoY
This Aveluro analysis covers BMP on HOSE in the Construction & Materials sector. The classified event type is earnings beat, with positive sentiment and a deterministic market-impact score of 7.0/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from Tuổi Trẻ - Kinh doanh, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Binh Minh Plastic (BMP) reported a record Q2 2026 net profit of 367 billion VND, up 11% year-on-year, on revenue of 1,319 billion VND. The strong performance was driven by stable gross margins and a significant reduction in selling expenses. For the first half of 2026, net profit reached 671 billion VND, up 9% YoY, achieving 53% of the full-year target.
Key Facts
- Q2 2026 net profit: 367 billion VND, up 11% YoY (record quarterly profit).
- Q2 2026 revenue: 1,319 billion VND, up slightly YoY.
- Gross margin: 46.7%, nearly unchanged from Q2 2025.
- Selling expenses: 110 billion VND, down 26% YoY.
- H1 2026 net profit: 671 billion VND, up 9% YoY.
- H1 2026 revenue: 2,777 billion VND, up 3% YoY.
- Full-year 2026 net profit target: 1,278 billion VND; achieved 53% in H1.
- Cash and equivalents: over 1,600 billion VND as of end-Q2 2026.
- Stock price (July 17, 2026): 151,600 VND, market cap ~12,410 billion VND.
What Happened
Binh Minh Plastic (BMP) released its Q2 2026 financial statements, reporting a record quarterly net profit of 367 billion VND, up 11% from the same period last year. Revenue for the quarter was nearly 1,319 billion VND, a slight increase year-on-year, primarily driven by sales of finished products. The company’s gross margin remained stable at 46.7%, while selling expenses dropped 26% to 110 billion VND, boosting profitability.
For the first half of 2026, BMP achieved revenue of 2,777 billion VND (+3% YoY) and net profit of 671 billion VND (+9% YoY). The company has set a full-year net profit target of 1,278 billion VND, of which 53% has been completed in the first six months. As of end-Q2, total assets stood at 3,355 billion VND, with cash and equivalents exceeding 1,600 billion VND, representing nearly half of total assets.
Market Context
BMP shares closed at 151,600 VND on July 17, 2026, giving the company a market capitalization of approximately 12,410 billion VND. The stock trades on HOSE. The plastics sector has seen stable demand, and BMP’s strong cash position and cost control have supported its earnings resilience. The company’s historical performance and dominant market position in Vietnam’s plastic industry underpin investor confidence.
Strategic Significance
BMP’s record quarterly profit underscores its ability to maintain high margins and control costs even with modest revenue growth. The significant reduction in selling expenses suggests improved operational efficiency. With a cash-rich balance sheet (over 1,600 billion VND) and low debt, BMP is well-positioned to weather economic cycles and potentially increase shareholder returns. The controlling stake held by Nawaplastic (SCG Group) provides strategic backing and access to regional expertise.
What to Watch
- Q3 2026 earnings release for sustained margin and cost trends.
- Any dividend announcements or share buyback programs given strong cash position.
- Raw material price movements (resin) that could impact gross margins.
- Expansion plans or new project wins in the construction and infrastructure sector.
- Changes in foreign ownership limits or SCG’s strategic moves.