The 2025 Annual General Meeting (AGM) of PETROLEUM GENERAL DISTRIBUTION SERVICES JOINT STOCK COMPANY (PSD) took place on April 22, 2025, at the company’s headquarters in Ho Chi Minh City. The AGM approved key resolutions regarding the 2024 business results and the operational plan for 2025.
According to the audited report by PwC, PSD achieved a consolidated revenue of VND 5,897 billion in 2024, equivalent to 85% of the previous year’s figure. However, the company recorded a profit after tax of VND 82.6 billion, marking a 30% increase compared to 2023. PSD distributed a 10% dividend for 2024.
For 2025, PSD has set ambitious targets, aiming for VND 7,000 billion in revenue—up 20% year-on-year—and VND 102 billion in profit after tax, a 25% increase compared to 2024. The company also plans to maintain a minimum dividend payout ratio of 10%. The Board of Directors emphasized ongoing efforts to expand the product portfolio, form new strategic partnerships, enhance digital transformation, and optimize operations through the ERP system Odoo.
During the AGM, PSD also announced the restructuring of its executive leadership, with key appointments effective from April 19, 2025. Accordingly, Mr. Vu Tien Duong has been appointed as the Chairman of the Board of Directors and the Legal Representative of the Company; Mr. Phan Hai Au has been appointed as the General Director; Mr. Nguyen Van Nghia has been appointed as the Chief Accountant; and Mr. Nguyen Manh Lan will continue to serve as the Deputy Director in charge of Business Operations at PSD.
These are all key personnel with deep expertise, extensive management experience, and comprehensive knowledge of PSD’s operational ecosystem. Notably, Mr. Nguyen Van Nghia, born in 1991, has over 12 years of experience at PSD in roles such as Senior Accountant and Deputy Head of Finance & Accounting. Mr. Phan Hai Au, born in 1984, becomes PSD’s youngest General Director in the past 18 years. He has dedicated more than 14 years to PSD and PETROSETCO, serving in leadership roles such as Chief Accountant and Deputy Chief Financial Officer.
The appointment of these core executives marks a significant step in strengthening PSD’s management structure. It reflects the company’s strategic focus on leadership succession and empowering the younger generation, aiming to continuously enhance operational efficiency and meet development demands in the new growth phase.
Despite market challenges, PSD reaffirms its commitment to the spirit of “Keep Moving Forward,” striving for sustainable and efficient growth in 2025 and the years ahead.
