By
Hai Yen
Thu, February 5, 2026 | 8:47 pm GMT+7
The State-owned Airports Corporation of Vietnam (ACV) has made headlines with a remarkable achievement in 2025, reporting a record net profit of VND12.07 trillion ($464.81 million). This figure represents a 3% increase from the previous year, showcasing the resilience and growth of the corporation in the face of a challenging economic environment.
In its Q4 financial statements, ACV posted a consolidated revenue of VND25.96 trillion ($999.79 million) for the year, marking a substantial 15% growth year-on-year. This surge in revenue is indicative of the increasing passenger traffic as Vietnam’s aviation sector continues to recover and expand.
However, while the overall revenue increased, the Q4 net profit witnessed a slight dip of nearly 2%, settling at VND3.14 trillion ($120.74 million). This suggests that while ACV’s top line is growing, tightening margins may be a concern that the corporation must address moving forward.
Long Thanh International Airport in Dong Nai province, southern Vietnam. Photo courtesy of Znews.
The financial metrics also reveal a bulging balance sheet for ACV as capital spending ramped up significantly. As of December 31, 2025, the corporation reported total consolidated assets exceeding VND90.9 trillion ($3.5 billion)—an increase of VND13.6 trillion ($523.77 million) from the beginning of the year. This growth reflects a strategic shift toward long-term investment, positioning ACV for future airline infrastructure demands.
Notably, cash and bank deposits declined by over VND11.5 trillion ($442.89 million) to around VND15 trillion ($577.69 million), while there was also a decrease in short-term receivables, down by VND4 trillion ($154.05 million) to VND8.2 trillion ($315.8 million). These reductions indicate a possible reallocation of resources to projects that promise longer-term returns.
In contrast, long-term assets expanded dramatically, soaring to over VND64 trillion ($2.46 billion) from approximately VND36.5 trillion ($1.41 billion) at the start of the year. This growth included a near doubling of fixed assets, which approached VND25 trillion ($962.81 million), underlining ACV’s commitment to enhancing its infrastructural capabilities.
A significant portion of the capital expenditure is linked to the Long Thanh International Airport project located in Dong Nai province. The first phase of this ambitious airport development is capitalized at VND34.19 trillion ($1.32 billion), showcasing an increase of more than VND21 trillion ($808.79 million) over the year. This project is poised to become the main hub for international air traffic, greatly enhancing Vietnam’s position within the global aviation industry.
In a related announcement in mid-January 2026, Vietnam’s Ministry of Construction reaffirmed ACV’s essential role as the investor in the second phase of the Long Thanh airport project, solidifying its commitment to developing next-generation aviation infrastructure.
Beyond Long Thanh, ACV is actively investing in several other projects across the nation. These include a new cargo terminal at Cat Bi International Airport in Hai Phong city, weather radar systems at Noi Bai and Tan Son Nhat airports, and infrastructural upgrades at various airports to enhance operational efficiency and passenger experience.
By the end of 2025, ACV’s overall debt had accumulated to nearly VND21 trillion ($808.79 million), with more than VND9.7 trillion ($373.57 million) attributed to borrowings, primarily of a long-term nature. The corporation’s owners’ equity reached nearly VND70 trillion ($2.7 billion), buoyed by retained earnings of VND20.87 trillion ($803.76 million). This healthy financial standing positions ACV for future growth and ongoing projects, reflecting its pivotal role in Vietnam’s aviation sector.