SASCO Posts Record Profit in 2025, Declares 46% Cash Dividend
This Aveluro analysis covers SAS. The classified event type is earnings beat, with positive sentiment and a deterministic market-impact score of 9.8/10. 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
SASCO (SAS), the operator of duty-free and services at Tan Son Nhat International Airport, reported record 2025 results with pre-tax profit surging 67% YoY to VND 844 billion, beating its plan by 52%. Revenue rose 15% to VND 3,535 billion, supported by a strong aviation recovery and expansion at the new T3 terminal. The company also declared a cash dividend of over 46%.
Key Facts
- 2025 pre-tax profit: VND 844 billion, up 67% YoY and 152% of plan.
- 2025 revenue: VND 3,535 billion, up 15% YoY and 111% of plan.
- Basic EPS: VND 4,602, up 65% YoY.
- Cash dividend: over 46% per share.
- Vietnam air passenger traffic in 2025: 83.5 million, up 10.7% YoY (record high).
- 2026 revenue target: VND 3,451 billion; pre-tax profit target: VND 802 billion.
- SASCO has been in the Top 10 Sustainable Development Enterprises for 10 consecutive years.
What Happened
At its annual general meeting on June 25, 2026, SASCO announced its 2025 business results, which set new records. The company attributed the strong performance to the robust recovery of Vietnam’s aviation industry, with total passenger traffic reaching 83.5 million, the highest ever. SASCO benefited from increased international passenger volumes, operational optimization, cost control, and investments in technology and facilities.
SASCO also expanded its presence at the new T3 passenger terminal of Tan Son Nhat International Airport, launching the Lotus business lounge and retail, restaurant, and culinary services. The company introduced the SASCO Airport Lounge Privileges card and the Infinite Club loyalty program for non-aviation services.
Market Context
SAS shares closed at VND 38,800 on June 25, 2026, up 2.65% on volume of 39,100 shares. The stock trades on UPCOM. The aviation services sector is benefiting from the post-pandemic travel boom, with SASCO’s record earnings reinforcing its position as a key player in airport ground services and retail. The broader market has seen increased foreign interest in aviation-related stocks.
Strategic Significance
SASCO’s record profit and high dividend payout demonstrate its ability to capitalize on the aviation recovery and expand its non-aviation services. The company’s early move into the T3 terminal positions it for continued growth as passenger volumes rise. The 2026 guidance, while slightly lower than 2025, reflects a cautious outlook amid risks such as high jet fuel prices and USD volatility. Long-term, SASCO is preparing resources for opportunities at the new Long Thanh International Airport, which could be a major growth driver.
What to Watch
- 2026 quarterly earnings reports to track revenue and profit trends.
- Progress of Long Thanh International Airport construction and SASCO’s involvement.
- Changes in international passenger traffic at Tan Son Nhat.
- Fuel price movements and their impact on airline demand.
- Any further dividend announcements or capital allocation plans.