GIA LAI ELECTRICITY JOINT STOCK COMPANY

GIA LAI ELECTRICITY JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN ĐIỆN GIA LAI) is a publicly held power generation enterprise operating in Vietnam’s renewable and conventional electricity sector, with a strong presence in the Central Highlands. Established in 2010 and headquartered in Pleiku City, Gia Lai Electricity has developed into a sizable independent power producer with more than 15 years of operating history.

GIA LAI ELECTRICITY JOINT STOCK COMPANY operates as a joint stock company and is listed on the Ho Chi Minh Stock Exchange under the ticker GEG. The company has a large capital base, with fully paid charter capital of approximately USD 173.6 million. Its ownership structure is diversified, combining foreign strategic investment and domestic corporate shareholders, reflecting its role as a market-oriented power producer rather than a state-controlled utility.

The company’s governance structure is led by Chairman TAN X. H., with executive management headed by General Director NGUYEN T. H. and Deputy General Director LE T. V. This management team oversees a broad portfolio of electricity generation assets and related engineering, construction, and operations services, particularly in hydropower and renewable energy projects.

From a financial standpoint, GIA LAI ELECTRICITY JOINT STOCK COMPANY is a large asset-intensive enterprise. By the end of 2024, total assets stood at approximately USD 623.4 million, while owner’s equity reached around USD 236.8 million, underscoring a strong capital foundation. Revenue continued to grow, reaching about USD 95.5 million in 2024, reflecting increased power output and stable demand.

However, profitability has come under pressure. Net profit declined sharply to roughly USD 3.8 million in 2024, down significantly from earlier years, highlighting margin compression driven by hydrological conditions, financing costs, and evolving electricity pricing mechanisms. A notable improvement was seen in working capital, which rose to approximately USD 24.5 million, easing short-term liquidity constraints and supporting ongoing operations.

Overall, GIA LAI ELECTRICITY JOINT STOCK COMPANY stands out as a financially solid and strategically positioned power producer with substantial assets and stable revenue growth. At the same time, declining profitability underscores the earnings volatility inherent in Vietnam’s power generation sector, particularly for companies exposed to variability in renewable output and long-term tariff structures.