Vietnam Report, in collaboration with VietNamNet, recently held a ceremony to announce the VIX50 ranking—Top 50 Credible and Effective Public Companies for 2024. Vietnam Gas Corporation (PV GAS) has been honored as one of the leading enterprises in this prestigious ranking.
This marks the fourth consecutive year that the VIX50 ranking has been announced, aimed at honoring public companies that demonstrate exceptional financial strength, communication prowess, growth potential, sustainable development, governance quality, and a solid position within their industries.
At the time of announcement, the market capitalization of the 50 companies on the VIX50 list accounted for over 51% of the total market. The average Return on Equity (ROE) for 2023 reached 16.5%, with a compound annual growth rate (CAGR) of revenue and profit over the past five years at 13.2% and 17.0%, respectively.
In the VIX50 list, PV GAS ranked 6th among 27 companies with a market capitalization exceeding 1 billion USD (with GAS valued at 6.7 billion USD); it also ranked 6th among 21 companies with revenues over 1 billion USD and 8th among 36 companies with profits exceeding 1 trillion VND.
The recognition of PV GAS and other reputable Vietnamese companies in the Top 50 Public Companies underscores their solid financial foundations and notable achievements in delivering products and services to customers while building a strong public image and investor confidence.
According to Vietnam Report, public companies are significantly impacted by fluctuations in the stock market. Following a period of economic ups and downs due to global economic slowdowns, the Vietnamese stock market in 2024 is expected to recover robustly, albeit interspersed with adjustments influenced by macroeconomic variables.
Key factors such as business performance, operational efficiency, and Earnings Per Share (EPS) continue to play crucial roles for public enterprises. Notably, a recent survey by Vietnam Report revealed that satisfaction with investor relations (IR) activities has emerged as one of the top five factors influencing the credibility and effectiveness of public companies.
With its position in the VIX50 2024 ranking, PV GAS received a Certificate and Trophy for being one of the Top 50 Credible and Effective Public Companies for 2024, along with the legal right to use the “VIETNAM TOP 50 PUBLIC COMPANY” logo in branding and promotional activities. During the announcement ceremony, PV GAS's image was showcased on digital standees, featured in the Vietnam CEO Insights 2024 report, and included in various promotional publications.
To contribute to the sustainable, safe, and transparent development of the Vietnamese stock market, building credibility is a top priority for public companies. This credibility enhances influence, serving as a foundation for sustainable growth and increasing company value. The announcement of the VIX50 ranking is a significant step in bolstering the reputation and image of Vietnamese enterprises, improving market capitalization, attracting shareholder value, and establishing long-term success in the stock market.
As PV GAS continues to excel in the gas sector, its recognition in the VIX50 ranking reinforces its commitment to quality and leadership in the energy industry, paving the way for future innovations and sustainable practices within the steel pipe sector and beyond.
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