( CafeF) – Greenpan, a subsidiary of Searefico (HOSE: SRF) specializing in insulation materials, has surpassed its mid-2025 business targets, thereby reinforcing the growth strategy of the entire SRF ecosystem.
The first half of 2025 marked a clear recovery in Vietnam’s construction materials (CM) industry, with both output and consumption rising sharply after a prolonged slowdown. In addition to this rebound in scale, the sector also showed positive signals: public investment disbursement exceeded VND 264 trillion (equivalent to 32% of the annual plan), the real estate market began to warm up in certain segments, and construction materials exports gradually regained momentum.
Notably, the ESG wave and the “green transition” in the construction materials sector are steadily becoming the new standard. From national policy directions to consumer behavior, the demand for energy efficiency, emission reduction, and the use of eco-friendly materials is rising sharply. This presents significant opportunities for pioneering enterprises in the field of green building materials.
Greenpan has been among the early movers in embracing this trend. By accelerating technological innovation and expanding its market presence, the company has achieved outstanding growth in both revenue and profit in the first half of 2025 compared to the same period in 2024. This performance further strengthens Greenpan’s position as a key growth driver within SRF’s consolidated financial picture this year.
In terms of financial performance, Greenpan recorded revenue of VND 145.42 billion and sales of VND 127.9 billion in the first six months of 2025, representing a 2.4-fold increase compared to the same period last year. Gross profit reached nearly VND 12 billion, while profit before tax and after tax stood at VND 3.55 billion and VND 3.35 billion respectively, more than five times higher year-on-year.
As of the end of June 2025, Greenpan has achieved nearly 50% of its full-year revenue target (VND 300 billion) and over 52% of its profit before tax (VND 6.75 billion) and after tax (VND 6.41 billion) targets. With the current growth momentum, Greenpan is well-positioned to exceed its 2025 business plan.
Greenpan’s growth momentum is generating a dual impact: strengthening its own operational capacity while adding significant value to Searefico’s consolidated results – with SRF currently holding an indirect 52.5% stake in the company. In the first half of 2025 alone, Greenpan is estimated to have contributed approximately VND 76 billion in revenue and VND 1.76 billion in net profit to SRF. Should the company achieve its full-year targets, these figures are expected to reach VND 157 billion and VND 3.36 billion, respectively – enhancing profit margins and underscoring the effectiveness of Searefico’s strategic investment in the green materials sector.
Step by step, Greenpan is becoming one of the strategic pillars within the Searefico ecosystem: stabilizing cash flows, supporting profit growth, and laying the foundation for international market expansion. In the long term, as green building materials continue to gain market share, Greenpan will play a vital role in strengthening Searefico’s industry position and increasing the attractiveness of the SRF stock on the market.
Source: CafeF
