Ho Chi Minh City, October 30, 2025 – Coteccons Construction JSC (HOSE: CTD) announced business results for the first quarter of fiscal year 2026 (the accounting period from July 1 to September 30, 2025), posting exceptional growth in both revenue and profit. The results reflect the effectiveness of Coteccons’ sustainable growth strategy and the strong recovery of the construction industry.
Strong performance with the highest quarterly profit in five years
In the first quarter of FY2026, Coteccons recorded consolidated net revenue of VND 7,452 billion, up 56.6% year-on-year. Gross profit reached VND 322 billion – the highest since 2020 – growing 56.7% from the same period last year, with a gross margin of 4.32%, in line with last year’s level.
These positive results demonstrate Coteccons’ ability to manage costs and optimize operations amid ongoing challenges from material prices, labor costs, and intense competition in the construction sector.
Notably, profit after tax surged 216.7% year-on-year to VND 294 billion, with a net profit margin of 3.95%, the highest in 21 quarters.
Coteccons was also honored among the Top 500 Most Profitable Companies in Vietnam 2025 (PROFIT500) by Vietnam Report and VietnamNet, rising 53 ranks from the previous year — a clear testament to the company’s outstanding growth momentum.
Record-high backlog with landmark national projects
As of the end of Q1 FY2026, Coteccons had secured VND 19,300 billion in new contracts, bringing backlog to VND 51,600 billion — the highest in company history and surpassing the record set at the end of FY2025. This solid foundation not only supports the FY2026 business plan but also ensures a robust pipeline for the coming years.
Continuing the success of its repeat sales strategy, 95.3% of new contracts came from existing clients — reaffirming Coteccons’ exceptional and consistent quality. The project portfolio expanded with key developments by Sun Group, Masterise Homes, Vinhomes, Ecopark, and TTC Land, including:
- Sun Group: Sun Urban City Ha Nam (General contractor for the construction of 3 apartment buildings CC01, CC02, CC03 and 490 low-rise villas) and West Lake Guesthouse (General contractor).
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Perspective of the apartment buildings and low-rise villa area of Sun Urban City Ha Nam
- Vinhomes: Star City Thanh Hoa (Construction of 10 buildings), Vinhomes The Gallery Giang Vo (General contractor) and Vin Wonder Tuyen Quang.
- Masterise Homes: The Global City (Construction of structure and basic finishing for 365 low-rise villas – LV01) and The Lakeside Masteri.
- TTC Land: Vinh Dam Complex (D&B general contractor).
- Ecopark: Ecopark Vinh (General contractor for 192 villas – Subdivision 6 + 4B).
In particular, two key national infrastructure and public investment projects – Passenger Terminal T2 – Phu Quoc International Airport and APEC Conference Center (S2, S3, S4) – with a total contract value of over 5,000 billion VND, demonstrate Coteccons’ leading general contracting capabilities and reputation in national-scale projects.
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Perspective of the APEC Conference Center (S2, S3, S4) and Passenger Terminal T2 – Phu Quoc International Airport
During the quarter, Coteccons began first collaboration with JS (Infinity Group) on Jade Square, a premium residential complex of three towers located in Hanoi’s West Lake area. Coteccons is responsible for structural works and façade finishing. This addition brings the number of Coteccons projects in and around West Lake to five, reinforcing its leadership position in shaping the modern skyline of the capital.
West Lake Opera House – Vietnam’s next iconic project.
One of the most iconic projects this quarter is the West Lake Opera House – a cultural landmark invested by Sun Group and designed by legendary Italian architect Renzo Piano, widely regarded as one of the masters of 20th-century architecture.
The 19.1-hectare development features 40,980 m² of floor area with a super-thin dome structure — just 250mm at its thinnest point — inspired by the gentle waves of West Lake. Its reflective ceramic materials create a natural pearl-like effect under sunlight. As one of the most complex and technically challenging structures in Vietnam, the project is closely overseen by the Hanoi authorities.
Coteccons is proud to serve as the main contractor for this world-class project, continuing its legacy of delivering landmark national works such as Phu Quoc International Airport Terminal T2, the APEC Convention Center, and Gia Binh International Airport.
The first-quarter results of FY2026 mark a strong start for Coteccons’ new fiscal year. With a record backlog, efficient operations, and a clear long-term growth strategy, Coteccons is well-positioned to enter a new growth cycle — reaffirming its status as Vietnam’s leading construction company and its mission to deliver projects that define an era.
Detailed Q1 FY2026 financial statements are available at: https://www.coteccons.vn/investor-relations-vn/
About Coteccons
Founded in 2004, Coteccons is Vietnam’s leading contractor with over 21 years of experience delivering large-scale, complex projects. The company is recognized for innovation, technological excellence, and commitment to providing optimal construction solutions that enhance quality of life and promote sustainable development for the community.
