SCIC Posts Over 13 Trillion VND Profit, Vinamilk Dividends Account for Nearly Half

The State Capital Investment and Trading Corporation (SCIC) has reported a substantial profit for the fiscal year 2025, with revenue from investment and capital development activities reaching VND 13.719 trillion, marking a nearly 37% increase from the previous year. The corporation's expenses for these activities were VND 2.676 trillion, leading to a gross profit of VND 11.042 trillion. Additionally, SCIC recognized VND 2.273 trillion in profits from its affiliated companies. After deducting financial expenses, corporate management costs, and other related expenditures, SCIC's profit before tax stood at VND 13.196 trillion, a modest increase of approximately 4% compared to the prior year. The primary driver of SCIC's revenue remained dividends and distributed profits, which amounted to VND 8.448 trillion, constituting over 61% of its total revenue from investment and capital development. Divestment activities contributed VND 4.299 trillion, while interest income from deposits and bond investments added VND 962 billion. A detailed governance report for 2025 indicates that SCIC collected VND 8.132 trillion in dividends from 42 companies within its investment portfolio. The dairy giant Vinamilk was the most significant contributor, bringing in VND 3.650 trillion, which accounts for nearly 45% of the total dividends received. SCIC currently holds the largest share in Vinamilk, with a 36% ownership stake. Other major contributors included Sabeco, from which SCIC received VND 1.385 trillion, and FPT Telecom, with VND 1.236 trillion. Collectively, these three companies generated over VND 6.270 trillion, representing approximately 77% of SCIC's total dividend income for the year. Vinamilk has recently confirmed its final cash dividend payment for 2025, at a rate of VND 1,850 per share, with the payout scheduled for July 17. Based on its current shareholding, SCIC is expected to receive an additional approximately VND 1.392 trillion from this distribution. This forthcoming dividend will bring the cumulative total of dividends received by SCIC from Vinamilk since the company's equitization close to VND 40 trillion. The investment in Vinamilk has proven to be exceptionally lucrative for SCIC. The valuation of the state's stake in the company has surged from approximately VND 1.5 trillion at the time of its equitization in 2003 to over VND 44 trillion as of June 2026. Furthermore, SCIC has successfully divested its holdings in Vinamilk during various phases between 2003 and 2017, recovering around VND 22.530 trillion. When factoring in the anticipated dividend from the July 17 payout, the total economic benefits accrued by SCIC from its Vinamilk investment approach an impressive VND 106.468 trillion, representing a return of nearly 71 times the initial value of the state's stake. As of the end of 2025, SCIC employed a workforce of 193 individuals. The average monthly income for these employees was VND 40.3 million, supplemented by bonuses and other income totaling VND 12.4 million. The report also disclosed the remuneration of SCIC's top executives. Mr. Nguyen Chi Thanh, Chairman of the SCIC Board of Members, earned an average monthly salary of VND 117.6 million, along with VND 20.2 million in bonuses and other income. Mr. Nguyen Quoc Huy, a Member of the Board of Members and the General Director, received a monthly salary of VND 113.1 million, plus VND 21.4 million in bonuses and other income.