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Strong Q3 performance reported by Coteccons, high order backlog, and inclusion in the VNDiamond Index announced

Coteccons, a top Vietnamese general contractor, bags VND23 trillion (approx. $885.1 million USD) in fresh contracts during the initial nine months of the 2024-25 fiscal period, which ended on March 31, 2025.

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Strong Q3 performance reported by Coteccons, high order backlog, and inclusion in the VNDiamond Index announced

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Hello there! Let's chat about Coteccons, a big player in Vietnam's construction game. In the first nine months of 2024-25, they nabbed a whopping VNĐ23 trillion ($885.1 million) in new contracts, bumping their order book to a hefty $1.4 billion.

You might be wondering what's behind this growth. Well, it seems the country's economic rebound and sped-up public spending have given the construction sector new life, creating a swell of opportunities for contractors like Coteccons.

Additionally, sustained foreign direct investment in manufacturing and real estate continues to set the stage for contractors.

In Q3, Coteccons landed some repeat contracts, including the main construction package for The 9 Stellars by SonKim Land and Gia Binh Airport. Interestingly, regular clients accounted for 69% of their order book - a testament to their nail-on-the-head project execution.

Following successful collaborations with Ecopark on projects like Ecopark Sky Residences, Swan Lake Onsen, and Eco Central Park Vinh, Coteccons was given the keys to the Eco Retreat Long An project. They're also busy working on new projects for Sun Group, as well as collaborating with new clients on The Global City and Masteri Lakeside by Masterise Homes, and Ray River Resort by Ray River Estates.

Beyond their core construction business, Coteccons has branched out into infrastructure and public investment projects, such as the Long Thành International Airport phase 1 (parking facility) and a National University HCMC subproject.

In Q3, Coteccons brought in over VNĐ5 trillion ($192.4 million) in consolidated revenues, marking a 7.2% year-on-year increase. Thanks to accelerated project delivery and increased construction activity, they reported a net profit of VNĐ57 billion.

For the fiscal year to date, Coteccons showed revenues of VNĐ16.6 trillion and net profits of VNĐ255 billion, a 15.2% and 5.8% boost respectively. The gross profit margin improved to 3.12% in Q3 from 2.93% during the previous quarter, thanks to cost optimization and improved project execution efficiency.

Coteccons secured VNĐ23 trillion (US$885.1 million) in new contracts in the first nine months of 2024-25 (until March 31, 2025). - Photo courtesy of the company

In a major nod to their financial performance, transparency, and governance, Coteccons (ticker: CTD) was added to the VNDiamond Index in the April 2025 review by the Ho Chi Minh Stock Exchange. This index is a prime hangout for high-quality, blue-chip stocks with high foreign ownership limits and is closely watched by both domestic and international ETFs.

As for the Q3 projects that gave Coteccons a growth spurt, well, the details are a bit sparse. If you're curious about the nitty-gritty, official Coteccons annual reports, investor relations communications, or industry news sources released after the third quarter of 2024-25 would be your best bet for finding out!

  1. Coteccons' growth in new contracts, reaching VNĐ23 trillion in the first nine months of 2024-25, is attributed to the economic rebound and increased public spending in Vietnam's construction industry.
  2. The surge in opportunities in the construction sector stems from sustained foreign direct investment in manufacturing and real estate, fuelling the growth of contractors like Coteccons.
  3. In Q3, Coteccons secured repeat contracts for projects like The 9 Stellars and Gia Binh Airport, with regular clients accounting for 69% of their order book.
  4. Coteccons' partnership with Ecopark on projects like Ecopark Sky Residences, Swan Lake Onsen, and Eco Central Park Vinh allowed them to secure the Eco Retreat Long An project, and they're currently working on new projects for Sun Group and collaborating with new clients on The Global City and Masteri Lakeside by Masterise Homes, and Ray River Resort by Ray River Estates.
  5. Coteccons has expanded its business to include infrastructure and public investment projects, with notable ventures such as the Long Thành International Airport phase 1 (parking facility) and a National University HCMC subproject.
  6. In recognition of their financial performance, transparency, and governance, Coteccons was added to the VNDiamond Index in the April 2025 review by the Ho Chi Minh Stock Exchange, making it a prime investment option for both domestic and international ETFs.
In the first-quarter year of 2024-25, Coteccons, a prominent general contractor in Việt Nam, has secured a substantial amount of 23 trillion Vietnamese Dong (US$885.1 million) in fresh contracts, as of March 31, 2025.

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