Workers at a mine of Vang Danh Coal Joint Stock Company, a member of Vinacomin. (Photo: vinacomin.vn) Coc Sau Coal (TC6) achieved the strongest growth in the quarter with a 10-fold increase over the same period last year. This is due to a sharp increase in profit margin of 33% in the fourth quarter of 2022, while in the same period of 2021 it reached only 9%.
It was followed by Cao Son Coal (TCS), seeing net profit of 168 billion VND (7.2 million USD), up 154% over the same period of 2021. Gross profit margin also increased sharply by 13%.
Meanwhile, Vang Danh Coal (TVD)’s net profit reached 148 billion VND, doubling the same period of 2021.
Ha Tu Coal (THT) and Nui Beo Coal (NBC) also recorded an increase in net profit of 96% and 70% in Q4, respectively. Deo Nai Coal (TDN) also had a profit of 37 billion VND, a sharp increase compared to the loss of 1 billion VND in the fourth quarter of 2021.
In particular, there was the case of Ha Lam Coal (HLC) reporting a net profit rise of 85% to 12 billion VND.
Explaining this impressive business result, most coal enterprises attributed the profit growth to the strong increase in coal production, consumption and TKV Group's adjustment of coal selling prices.
Except for Cao Son Coal (CST) whose revenue decreased by 27% in the fourth quarter, the remaining enterprises all had high revenue growth, in which the most impressive was the revenue growth of Vinacomin - Coal Import Export Joint Stock Company (CLM). Net revenue of CLM in the fourth quarter reached 3.2 trillion VND, up 391% year-on-year.
Mong Duong Coal (MDC) and Vang Danh Coal (TVD) experienced revenue growth rates of 69% and 49%, respectively.
Although Cao Son Coal (CST) led in profit in terms of value, the most impressive growth belonged to Vinacomin - Coal Import Export Joint Stock Company (CLM) as this company's profit after tax was 337 billion VND, 11 times higher than the same period in 2021. Basic earnings per share (EPS) of CLM in 2022 was 30,672 VND, among the top companies with the highest EPS on the stock exchange.
Although Coc Sau Coal (TC6) recorded high profit in the fourth quarter, it was not enough to make up for the large loss in the third quarter, making the whole year’s profit reach only 400 million VND.
Thanks to the high profit results, the majority of coal enterprises together far exceeded the business targets of 2022./.
VNA
