Binh Minh Plastics honoured by Forbes Vietnam for sustainable growth

This marks the 12^th year the company has earned this prestigious recognition, reaffirming its leadership in Vietnam’s plastic pipe industry, along with its sustainable growth capacity and outstanding business performance.

Niwat Athiwattananont, general director of Binh Minh Plastics , shared, “Being recognised in Forbes Vietnam’s top 50 listed companies is a huge honour for us. This achievement reflects Binh Minh Plastics’ continuous efforts in pursuing sustainable development, with product quality as the foundation. With positive revenue and profit in 2025, we are committed to developing innovative, high-quality, and environmentally friendly products that create long-term value for our customers, shareholders, and the community.”

The Forbes Vietnam Top 50 list is compiled using both quantitative and qualitative criteria. Quantitative indicators include profitability, a minimum revenue threshold of VND500 billion ($18.9 million), return on equity, return on invested capital, earnings per share growth, and audited financial statements. On the qualitative side, the assessment takes into account the sustainability of the business model, market position, corporate governance standards, and long-term growth potential.

In 2025, aligned with the Inclusive Green Growth strategy, Binh Minh Plastics has achieved remarkable milestones. In Q2, the company posted revenue of over $49.67 million, up 13 per cent on-year. The cost of goods sold rose at a slower pace, helping gross profit reach $23.14 million, a 21 per cent increase. Gross margin stood at 46.7 per cent, the highest since 2018. As a result, net profit after tax climbed to nearly $12.5 million, up 18 per cent on-year, the highest in its 48 years of operations.

For the first half of 2025, revenue reached over $101.9 million with nearly $23.4 million in net profit, fulfilling half of the year’s revenue plan and more than 58 per cent of the profit target. If this momentum continues, Binh Minh Plastics is poised to deliver the highest profit in its history. Financial income also rose nearly 50 per cent to over $947,418, driven largely by deposit interest as the company increased its bank deposits to $86.78 million from $72 million at the start of the year.

The strong financial performance has enabled Binh Minh Plastics to maintain an attractive dividend policy. This year, the company plans to allocate at least 50 per cent of net profit for dividend payouts. In 2024, it paid out up to 99 per cent of profits (over $37.2 million) as cash dividends, equivalent to $0.45 per share.

Beyond financial success, Binh Minh Plastics continues to affirm its role in innovation and sustainability. The company continuously diversifies its portfolio of eco-friendly products to meet the growing demand for green construction and sustainable urban development in Vietnam. Binh Minh Plastics is the first enterprise in Vietnam’s plastics and building materials industry to achieve the highest level of the Singapore Green Building Product certification – ‘Leader’ – for its product lines of PVC-U, PP-R, and HDPE pipes and fittings for drinking water, as well as corrugated PE pipes for wastewater. This marks a significant milestone in the company’s sustainable development journey.

With this recognition from Forbes Vietnam, Binh Minh Plastics further strengthens its leadership position in the plastic pipe industry. Looking ahead, the company will focus on driving sustainable growth through innovation, green product development, and operational excellence, delivering greater value to shareholders while contributing to Vietnam’s sustainable development.

Nawaplastic acquires majority interest in Binh Minh Plastics Nawaplastic Industry Co., Ltd., a subsidiary of Thailand’s SCG, has completed the purchase of an additional 185,970 shares in Binh Minh Plastics JSC (BMP), taking the Thai investor closer to dominating BMP.

Binh Minh Plastics ranked among Vietnam’s 50 Best-Performing Companies 2019 Binh Minh Plastics (HSX: BMP) has been awarded the Vietnam’s 50 Best-Performing Companies (TOP 50) 2019 title by Nhip Cau Dau Tu Magazine in tandem with Thien Viet Securities. Making this the ninth consecutive years in the Top 50, BMP has its consistent performance thanks to excellent corporate governance and strong commitment to quality improvement.

Binh Minh Plastics honored by Forbes Vietnam Binh Minh Plastics JSC (BM PLASCO), an SCG member in Vietnam, was named as one of the 50 Best Listed Firms in 2022 by Forbes Vietnam.