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-foldincrease over the same period last year. This is due to a sharp increase inprofit margin of 33% in the fourth quarter of 2022, while in the same period of2021 it reached only 9%.
It was followed by Cao Son Coal (TCS), seeing net profit of 168 billion VND (7.2million USD), up 154% over the same period of 2021. Gross profit margin alsoincreased sharply by 13%.
Meanwhile, Vang Danh Coal (TVD)’s net profit reached 148 billion VND, doublingthe same period of 2021.
Ha Tu Coal (THT) and Nui Beo Coal (NBC) also recorded an increase in net profitof 96% and 70% in Q4, respectively. Deo Nai Coal (TDN) also had a profit of 37billion VND, a sharp increase compared to the loss of 1 billion VND in thefourth quarter of 2021.
In particular, there was the case of Ha Lam Coal (HLC) reporting a net profitrise of 85% to 12 billion VND.
Explaining this impressive business result, most coal enterprises attributedthe profit growth to the strong increase in coal production, consumption andTKV Group's adjustment of coal selling prices.
Except for Cao Son Coal (CST) whose revenue decreased by 27% in the fourthquarter, the remaining enterprises all had high revenue growth, in which themost impressive was the revenue growth of Vinacomin - Coal Import Export JointStock Company (CLM). Net revenue of CLM in the fourth quarter reached 3.2trillion VND, up 391% year-on-year.
Mong Duong Coal (MDC) and Vang Danh Coal (TVD) experienced revenue growth ratesof 69% and 49%, respectively.
Although Cao Son Coal (CST) led in profit in terms of value, the mostimpressive growth belonged to Vinacomin - Coal Import Export Joint StockCompany (CLM) as this company's profit after tax was 337 billion VND, 11 timeshigher than the same period in 2021. Basic earnings per share (EPS) of CLM in2022 was 30,672 VND, among the top companies with the highest EPS on the stockexchange.
Although Coc Sau Coal (TC6) recorded high profit in the fourth quarter, it wasnot enough to make up for the large loss in the third quarter, making the wholeyear’s profit reach only 400 million VND.
Thanks to the high profit results, the majority of coal enterprises togetherfar exceeded the business targets of 2022./.
VNA
