In a year marked by global and domestic economic instability, industrial production companies under the Vietnam Rubber Group (VRG) demonstrated exceptional resilience by meeting and surpassing key business indicators in revenue, profit, and employee welfare.
Geru Star Sports: Sustaining Growth Through Determination
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Geru Star Sports JSC (Geru Sport), along with Rubico (Rubber Industry and Export JSC) and Rubber Mechanical JSC, all showed steady recovery in 2022 after two years of severe disruptions caused by the COVID-19 pandemic. These enterprises gradually stabilized production and accelerated growth.
By the end of December 2022, Geru Sport had completed and exceeded all major targets for production, revenue, profit, and worker income.
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Total production: over 1.08 million sports balls, exceeding the plan by 12.5%
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Sales: 1.078 million units, 12.29% above target
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Revenue: VND 88 billion, achieving 114.8% of the plan
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Pre-tax profit: VND 1.6 billion, 106.7% of the plan
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Average monthly employee income: over VND 11 million, up 22% from 2021
According to Mr. Tran Van Hanh, General Director of Geru Star:
“These results are the outcome of relentless effort and unity among all employees. Moving into 2023, we will focus on developing new products, expanding into northern markets, and increasing outsourcing partnerships. The success of this year will serve as a foundation for future growth.”
Rubber Mechanical JSC: Strong Domestic and Overseas Operations
Rubber Mechanical JSC continues to play an important role in assembling and maintaining machinery for VRG subsidiaries both in Vietnam and neighboring countries Laos and Cambodia.
Despite market difficulties, the company fulfilled and exceeded its 2022 targets, with most key metrics outperforming expectations by 20–30%.
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Estimated revenue: VND 114 billion
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Pre-tax profit: VND 6.5 billion
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Tax contribution: nearly VND 3 billion
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Average monthly employee income: over VND 12 million
Large-scale projects were completed on schedule, meeting quality standards for both internal and external clients, helping the company strengthen its reputation in the mechanical engineering sector.
Rubico: Restructuring for Sustainable Production
As of December 2022, Rubico (Rubber Industry and Export JSC) had met and exceeded most of its production and business targets.
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Estimated revenue: over VND 411 billion
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Estimated profit: over VND 3 billion, exceeding the plan by 5.8%
Rubico plans to continue restructuring and divesting non-core investments in line with VRG’s direction. The company remains focused on stable production, improved management efficiency, and enhanced worker welfare, maintaining an average monthly income of VND 10 million per person.
Sustained Recovery Across VRG Industrial Subsidiaries
Despite facing inflation, disrupted supply chains, and lingering effects of the pandemic, VRG’s industrial production companies—particularly Geru Sport, Rubico, and Rubber Mechanical JSC—have achieved notable recovery.
Their efforts not only secured financial stability but also contributed to maintaining employment and improving livelihoods for thousands of workers, reinforcing the resilience and adaptability of Vietnam’s rubber-based industrial sector.