Binh Duong Water - Environment Corporation - Joint Stock Company (BIWASE, ticker BWE - HoSE) has announced its 2025 business results and 2026 business plan.

For 2026, BIWASE has set a target for a total consolidated output of 257.5 million m³, an increase of 22.2% compared to the actual volume in 2025; a minimum projected total revenue of 5,400 billion VND; and a minimum total profit after tax of 770 billion VND.

Specifically, as a key strategic orientation for 2026, BIWASE plans to increase its charter capital in alignment with its equity and investment requirements; accelerate digital transformation across all aspects; and continue to perfect automation and SCADA systems at its plants to ensure the most efficient and optimal operations (SCADA - Supervisory Control and Data Acquisition - is a control system that monitors, collects, and analyzes data in real time, manages operations, and reduces labor costs and product prices).

Previously, at the close of 2025, BIWASE recorded a total revenue (including internal revenue) of 5,627 billion VND, fulfilling 118% of its annual target, and a profit after tax of 899 billion VND, achieving 140% of its annual target.

BIWASE maintained revenue expansion across all core sectors.

 

Specifically, in terms of revenue structure, water supply revenue reached 3,108 billion VND, accounting for 55.23% of total revenue; solid waste treatment revenue reached 1,154 billion VND, making up 20.51% of total revenue; wastewater treatment revenue reached 355 billion VND, representing 6.32% of total revenue; and other activities contributed 1,009 billion VND in revenue, equivalent to 17.94% of total revenue.

Regarding business operations, in 2025, BIWASE held the water supply ceremony for the Nhi Thanh Water Plant – Phase 3, increasing its capacity to 120,000 m³/day; commenced operations of the Can Tho 3 Water Plant with a capacity of 50,000 m³/day and a total investment of 300 billion VND; and concurrently, held the groundbreaking ceremony for the BIWASE Waste-to-Energy Plant with a capacity of 24 MW and a total investment of 45 million USD (approximately 1,150 billion VND).

Besides capacity expansion activities, BIWASE also executed several mergers and acquisitions (M&A) deals in 2025. Specifically, the Company completed the transfer of its entire 52% stake in BIWELCO, generating 166.4 billion VND in proceeds and a profit of 55.4 billion VND; finalized the acquisition of a 33.65% stake in Vinh Long Water Supply Joint Stock Company, valued at 243.14 billion VND; transferred 20 million shares in BIWASE Long An Water Joint Stock Company to fulfill the plan of acquiring a 42% stake in Ninh Thuan Water Supply Joint Stock Company in January 2026; and finalized the acquisition of 90% of the charter capital in Phu Hung Long Water Supply Joint Stock Company (in Tay Ninh province), an entity owning a retail distribution network, etc.

As of the end of 2025, BIWASE owns 8 direct water supply branches, 11 subsidiaries, 12 associated companies, and 4 capital-contributing companies. Notably, the water supply capacity of BIWASE's entire system has exceeded 1 million m³/day.

Returning to the business results, in the Q4/2025 report, alongside maintaining the momentum of revenue and profit expansion, BIWASE also recorded a continuously positive operating cash flow of 1,022.9 billion VND in 2025, compared to a positive 745 billion VND in the same period last year.

It is noted that, thanks to stable business operations in the essential sectors of water supply and solid waste treatment, BIWASE continuously maintains a positive operating cash flow.

Regarding asset scale, as of December 31, 2025, BIWASE's total assets increased by 6.7% compared to the beginning of the year, equivalent to an addition of 950.8 billion VND, reaching 15,150.3 billion VND. Of this, the primary assets recorded were 4,548.7 billion VND in fixed assets, accounting for 30% of total assets; 3,282.1 billion VND in long-term financial investments, representing 21.66% of total assets; 1,993.3 billion VND in long-term construction in progress, accounting for 13.2% of total assets; 1,413.9 billion VND in cash and short-term financial investments, making up 9.3% of total assets, alongside other items.

Regarding market trends, the BWE stock has recently shown a sideways movement, trading around the 45,000 - 46,000 VND/share mark.

Source: Baodautu.vn 
Author: Duy Bac.