VIMID exceeds 2024 business targets

On January 20, 2025, VVietnam Machine Investment Development Joint Stock Company (VIMID – stock code: VVS) announced its Fourth quarter of 2024 financial report, recording impressive business results with remarkable growth in both revenue and profit, marking a year of outstanding breakthroughs.

According to the Q4 2024 consolidated financial statements, VIMID achieved cumulative revenue of VND 3,891 billion as of December 31, 2024, an increase of over 72% compared to VND 2,265 billion in 2023, reaching 129.7% of the 2024 business plan.

In parallel, the total profit before tax for 2024 reached nearly VND 88 billion, gained 303% compared to the same period last year and more than three times the planned target for 2024.

VIMID’s business performance in 2024 was highly impressive, with growth in both revenue and profit compared to 2023. These positive results demonstrate the company’s stable and effective business operations while reaffirming its solid position in the Vietnamese freight transport market.

Mr. Nguyễn Vũ Trụ, CEO of VIMID, stated: “VIMID achieved outstanding business results this year thanks to continuous product innovation, improved service quality, market expansion, operational efficiency optimization, and strong strategic innovation in recent years.”

The company has implemented a series of measures to enhance customer value, optimize business operations, and expand market reach. Its nationwide 3S service station network, continuously expanding, provides a comprehensive customer experience. From supplying high-quality products and genuine spare parts, to offering attentive maintenance and repair services, VIMID ensures highest customer satisfaction.

In addition, this outstanding growth was driven by VIMID’s bold investments in technology and process improvements, along with modern management solutions, which not only enhanced operational efficiency but also reduced operating costs, thereby creating a sustainable competitive advantage.

Corporate culture has also been a crucial factor in VIMID’s success. With a spirit of unity, creativity, and dedication, the company’s staff has cultivated internal strength to overcome challenges and collectively achieve business objectives. The leadership team consistently emphasizes building a professional working environment, where creative ideas are encouraged and every member has opportunities for development.

The remarkable growth achieved in 2024 not only confirms the rightful strategy, but also reflects the company’s inherent strengths. Entering 2025, VIMID aims to continue consolidating its business foundation, preparing for an even stronger breakthrough under the slogan: “Solid Foundation – Ready to Breakthrough.”

VIMID is ready for a new phase of robust and sustainable growth in the coming period. With a vision to maintain the top position in the medium and heavy-duty truck market, and be among the Top 3 in Vietnam’s truck market, the company is also targeting to become a leading industrial truck group, applying artificial intelligence, robotics, and clean energy in Vietnam and the region during the 2026–2030 period.

The year 2025 marks the 15th anniversary of VIMID’s journey of development. The company has continuously strived to build a solid foundation based on trust, intelligence, and unity. This is the foundation for VIMID to grow further, contribute to shaping Vietnam’s freight transport industry, and expand VIMID brand even more widely.

(Source: VIMID Q4/2024 Financial Statements)