Gelex Group Joint Stock Co · HOSE:GEX
Gelex Group Joint Stock — GELEX Group JSC — Q1 2026 Earnings Presentation
27 slides from Gelex Group Joint Stock's earnings presentation, May 2026
Slide 1: Q1/2026 Business Performance Presentation
Q1/2026 BUSINESS PERFORMANCE PRESENTATION Prepared by: Investor Relations - Communication Department – GELEX Group JSC 1
Slide 2: Main Content
MAIN CONTENT 01 GELEX OVERVIEW 03 BUSINESS Q1/2026 PERFORMANCE 02 MACRO Q1/2026 04 OUTLOOK Q2/2026 2
Slide 3: Tổng quan GELEX
01 TỔNG QUAN GELEX
Slide 4: GELEX Overview
GELEX OVERVIEW Established in 1990, GELEX is currently a diversified GROUP STRUCTURE investment holding group operating through two sub- holdings: GELEX Electricity and GELEX Infrastructure. GELEX GROUP JSC (HoSE: GEX) 70.21% 10% MISSION Together, we shape Vietnam’s future by building 75.95% efficie
Slide 5: Lĩnh vực hoạt động chính
Lĩnh vực hoạt động chính INDUSTRIAL PRODUCTION REAL ESTATE INFRASTRUCTURE FINANCE ELECTRICAL EQUIPMENTS INDUSTRIAL PARKS GELEX provides utility GELEX has invested in Developing green and smart infrastructure solutions with a Eximbank and is currently the Comprehensive product portfolio industrial pa
Slide 6: Q1/2026 Business Performance Overview
Q1/2026 BUSINESS PERFORMANCE OVERVIEW GELEX maintained strong growth momentum amid a volatile macro environment ➢ In Q1/2026, GELEX recorded positive business growth despite continued volatility in the global macroeconomic environment, while capital costs and geopolitical risks remained key factors
Slide 7: Q1/2026 Business Performance Overview
Q1/2026 BUSINESS PERFORMANCE OVERVIEW CONSOLIDATED REVENUE STRUCTURE CONSOLIDATED NET REVENUE PROFIT BEFORE TAX 2,5% Electrical Equipment 10.722 806 11,8% 24% 22.3% Construction Materials VND bn of FY2026 VND bn of FY2026 19,6% Plan Plan IP & RE 65,9% ▲ +35.4% YoY ▲ +23.4% YoY Utilities ELECTRICAL E
Slide 8: Macro Q1/2026
02 MACRO Q1/2026
Slide 9: Macro Situation Q1/2026
MACRO SITUATION Q1/2026 Vietnam’s economy maintained positive growth momentum despite global uncertainties and inflationary pressure. ➢ Q1/2026 GDP recorded the highest growth rate in the past 15 years. From the supply side, growth was mainly driven by the manufacturing and processing sector, which
Slide 10: Macro Situation Q1/2026
MACRO SITUATION Q1/2026 GDP CPI 4,18% 8,16% 8,25% 8,46% 3,77% 7,83% 3,51% 7,05% 3,22% 1,92% Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q1/2022 Q1/2023 Q1/2024 Q1/2025 Q1/2026 Q1 GDP grew 7.83% YoY, a positive result amid global uncertainties, Average CPI in Q1 increased 3.51% due to higher fuel prices in line de
Slide 11: Macro Situation Q1/2026
MACRO SITUATION Q1/2206 FDI (USD bn) PMI FDI thực hiện FDI đăng ký 15,2 11,0 10,5 8,8 9,9 6,8 7,1 7,0 5,0 5,4 T10/24 T11/24 T12/24 T10/25 T11/25 T12/25 T3/24 T4/25 T1/24 T2/24 T4/24 T5/24 T6/24 T7/24 T8/24 T9/24 T1/25 T2/25 T3/25 T5/25 T6/25 T7/25 T8/25 T9/25 T1/26 T2/26 T3/26 March PMI reached 51.2
Slide 12: Business Performance Q1/2026
03 BUSINESS PERFORMANCE Q1/2026
Slide 13: Consolidated Business Results
3.1 CONSOLIDATED BUSINESS RESULTS Q1 CONSOLIDATED BUSINESS RESULTS CONSOLIDATED NET REVENUE (VND bn) 11.638 • Q1 consolidated net revenue reached VND 10,722 bn 12.000 10.722 10.119 (+35.4% YoY), with growth across all core business 10.000 9.841 sectors. 7.916 8.000 • Gross profit reached VND 2,002 b
Slide 14: Business Performance – Electrical Equipment
3.2 BUSINESS PERFORMANCE – ELECTRICAL EQUIPMENT BUSINESS RESULTS ELECTRICAL EQUIPMENT (VND bn) • Q1 revenue reached VND 7,061 bn, up 38.2% YoY. Subsidiaries Net Revenue Gross Profit Gross Profit Margin (RHS) maintained positive growth momentum thanks to proactive market 8.000 18% expansion. 7.000 16
Slide 15: Business Performance – Construction Materials
3.2 BUSINESS PERFORMANCE – CONSTRUCTION MATERIALS BUSINESS RESULTS CONSTRUCTION MATERIALS (VND bn) • Q1 revenue reached VND 2,103 bn, up 47.6% YoY, supported by proactive Net Revenue Gross Profit Gross Profit Margin (RHS) sales management solutions, while the building glass market recovered 3.000 30
Slide 16: Business Performance – Utilities
3.2 BUSINESS PERFORMANCE – UTILITIES BUSINESS RESULTS UTILITIES INFRASTRUCTURE (VND bn) • Q1 revenue reached VND 266 billion, up 44.7% YoY, driven by the Net Revenue Gross Profit Gross Profit Margin (RHS) gradual contribution from Phase 2 of the Song Da water project. Q1 water output reached 33 mill
Slide 17: Business Performance – Real Estate
3.2 BUSINESS PERFORMANCE – REAL ESTATE BUSINESS RESULTS REAL ESTATE (VND bn) • Q1 revenue reached VND 1,262 billion, up 8.4% YoY. Net Revenue Gross Profit Gross Profit Margin (RHS) 1.560 o Industrial park segment: More than 23 ha were handed over 1.600 80% across Song Cong 2, Phu Ha, Yen My, Thuan T
Slide 18: Financial Position
3.3 FINANCIAL POSITION ASSETS AND CAPITAL STRUCTURE vs. beginning Unit (bn VND) 31/12/2025 31/03/2026 of the year • Total assets as of 31/03/2026 reached VND 87,015 bn Total Assets 73,593 87,015 +18.2% (+18.2% compared to the beginning of the year). Current Assets 39,414 48,970 +24.2% o Current asse
Slide 19: Financial Position
3.3 FINANCIAL POSITION ➢ According to the six-month periodic credit rating review announced by VIS Rating on April 24, GELEX’s long-term issuer credit rating was maintained at A, with a Positive outlook. ➢ VIS Rating was licensed by the Ministry of Finance of Vietnam as a credit rating agency in Sep
Slide 20: Notable Activities
3.4 NOTABLE ACTIVITIES GELEX successfully held the 2026 Annual The AGM elected the Board of Directors GELEX announced the appointment of General Meeting of Shareholders, ready for 2026–2031 term, with Mr. Nguyen Van Mr. Le Tuan Anh as Chief Executive for a new growth cycle. Tuan elected as Chairman
Slide 21: Notable Activities
3.4 NOTABLE ACTIVITIES GELEX Infrastructure completed a USD GELEX Infrastructure invested in the Gia GELEX Infrastructure and Frasers 200 million syndicated loan arranged by Binh International Airport project Property expanded their strategic HSBC investment partnership. The series of international
Slide 22: Notable Activities
3.4 NOTABLE ACTIVITIES GELEX Infrastructure listed on HoSE Fairmont Hanoi, the six-star hotel GELEX and subsidiaries joined hands (ticker: GEL) invested by GELEX, officially commenced to bring the national power grid to operations 194 households in mountainous areas On February 6, 2026, more than 89
Slide 23: Outlook Q2/2026
04 OUTLOOK Q2/2026
Slide 24: Outlook Q2/2026
OUTLOOK Q2/2026 General Outlook ➢ Q1/2026 business results reflected the positive operating performance of GELEX’s core business sectors, while also reflecting the Group’s expansion phase under its long-term growth strategy, with borrowings and finance costs increasing in line with investment expans
Slide 25: Outlook Q2/2026
OUTLOOK Q2/2026 General Outlook ➢ Electrical Equipment: Maintaining positive growth momentum driven by market expansion, while continuing to benefit from rising demand for infrastructure investment, power generation projects, industrial parks and real estate developments. ➢ Construction Materials: O
Slide 26: Terms and Acronyms
TERMS AND ACRONYMS AGM Annual General Meeting of Shareholders H1 The first half of the year AP Annual Plan IMEX Import Export Bn Billion IP Industrial Park CM Construction Materials M Month CPI Consumer Price Index MOU Memorandum of Understanding EE Electrical Equipment NR Net Revenue FDI Foreign Di
Slide 27: Contact
CONTACT Investor Relations – GELEX Communication Department GELEX GROUP JSC Add: GELEX Tower, 52 Le Dai Hanh, Hai Ba Trung Dist, Hanoi Tel: +84 24 3972 6245 Fax: +84 24 3972 6282 Website: www.gelex.vn Email: ir@gelex.vn Disclaimer: The information contained in this document is provided by GELEX and