Major Vietnamese coal firms Vinacomin-DeoNai Coal, Mong Duong Coal, and Vang Danh Coal all reported large profits in the second quarter of this year, while Cao Son Coal posted a loss of VND4.3 billion ($182,000).
Vinacomin-DeoNai Coal JSC recorded net revenue of VND1.16 trillion ($49.1 million) in Q2, down 5% year-on-year, and after-tax profit of VND15.6 billion ($659,400), up 36 times.
In the first six months of this year, the company, listed on the Hanoi Stock Exchange (HNX) as TDN, posted net revenue of VND2.08 trillion ($87.8 million) and after-tax profit of VND26.5 billion ($1.12 million), down 1% and up 4-fold year-on-year, respectively.
Production costs in H1 decreased, with fuel prices dropping by 15%, helped to increase profits, according to the company.
As of June 30, the company's total assets had stood at VND1.33 trillion ($54.9 million), down 9% compared to the beginning of the year, of which cash and cash equivalents were up 2.2 times to VND4.4 billion ($186,000).
The company aims to achieve revenue of VND3.75 trillion ($159.6 million) this year, down 1.4%, and post-tax profit of VND56 billion ($2.4 million), down 9.6%.
On the HNX, the TDN share price stood at VND11,100 ($0.47) per unit at Friday's close.
Meanwhile, Mong Duong Coal JSC recorded after-tax profit of VND15 billion ($634,000) in Q2, up 2.6 times compared to the same period last year, on net revenue of VND743 billion ($31.4 million), up 2%.
In the first half of 2023, the company earned net revenue of VND1.41 trillion ($59.5 million) and post-tax profit of VND29.1 billion ($1.23 million), up 13% and 2.5 times year-on-year, respectively.
As of the end of June, the company's assets had hit nearly VND980 billion ($41.4 million), down 32% compared to the beginning of the year, of which short-term assets were VND315 billion ($13.3 million), down 58%.
On the HNX, MDC finished at VND12,400 ($0.52) at Friday's close.
Vang Danh Coal JSC posted net revenue of VND1.63 trillion ($68.9 million) and after-tax profit of VND29.5 billion ($1.2 million) in Q2, down 12% and up 81%, respectively.
In the first six months of this year, the company reported after-tax profit of VND60.3 billion ($2.5 million), up 2 times, and net revenue of VND3.41 trillion ($144.2 million), up 3%.
At the end of Q2, the company's total assets had stood at VND2.23 trillion ($94.26 million), down 17% from the beginning of the year, of which inventory accounted for VND411 billion ($17.4 million), up 17%, and short-term receivables decreased by 39% to VND751 billion ($31.7 million).
This year, the company, listed on the Hanoi Stock Exchange (HNX) as TVD, has set a revenue target of VND6.29 trillion ($267.67 million) and post-tax profit of VND156 billion ($6.6 million).
On the HNX, TVD was trading at VND16,300 ($0.69) at Friday's close.
In contrast, Cao Son Coal JSC recorded a loss of VND4.3 billion ($181,800) in Q2, while in the same period last year it made an after-tax profit of VND75.5 billion ($3.2 million).
The company, listed on the unlisted public company market UPCoM as CST, earned net revenue of VND1.79 trillion ($75.6 million) in Q2, down 48% year-on-year.
In the first half of this year, Cao Son Coal reported net revenue of VND4.17 trillion ($176.1 million), down 31%, and post-tax profit of VND82.8 billion ($3.5 million), down 12%.
As of June 30, the company's total assets stood at VND2.74 trillion ($115.76 million), up 15% from the beginning of the year, of which cash and cash equivalents hit VND8.9 billion ($376,200), up 13 times.
Cao Son Coal has set a revenue target of VND9.84 trillion ($415,900) and after-tax profit of nearly VND144 billion ($6.09 million) in 2023.
CST shares finished at VND19,300 ($0.82) at Friday's close.