The Northern Coal Trading Joint Stock Company – Vinacomin (stock code: TMB) has announced its business results for the fourth quarter of 2023 with revenue of VND 8,238 billion, a decrease of nearly 5% compared to the same period last year. However, thanks to a significant decrease in the cost of goods sold to VND 7,843 billion, down nearly 6%, gross profit increased by 17.6% to VND 395 billion.

During the period, the company recorded a negative financial revenue of VND 24 billion. Although not clearly explained, this may be a loss caused by exchange rate fluctuations. Financial expenses were negative VND 22.5 billion, of which interest expenses were negative VND 63 billion. The company’s other expenses remained relatively stable.

As a result, TMB recorded a net profit of over VND 145 billion, an increase of 27.2% compared to the same period last year. EPS increased from VND 7,617 to VND 9,677.

For the full year 2023, TMB reported revenue of VND 37,113 billion, a nearly 50% increase compared to the same period last year.

Profit before tax increased by nearly VND 200 billion to VND 438 billion. This profit level is equivalent to the 2023 profits of many major real estate and infrastructure companies, such as Dat Xanh Group with VND 458 billion, CII with VND 428 billion, and Deo Ca Transportation Infrastructure – HHV with VND 424 billion.

After-tax profit reached VND 343.4 billion, an increase of 76% compared to the same period last year. EPS soared from VND 12,981 to VND 22,893. This is also a record profit level for the company since its establishment.

As of December 31, 2023, TMB’s total assets reached VND 3,940 billion, an increase of VND 1,672 billion compared to the beginning of the year. Among them, the largest proportion in the company’s assets (70%) is inventory, which increased by VND 755 billion to VND 2,755 billion compared to the beginning of the year. However, the company only had over VND 27 billion in cash.

The company’s capital is mainly financed by loans. Of which, TMB’s financial debt was VND 2,420 billion. Equity reached VND 734 billion.

The precursor of the Northern Coal Trading Joint Stock Company – Vinacomin is the Vietnam National Coal Management and Distribution Corporation, established in 1974, with the task of managing the state’s coal and distributing coal consumption according to the state’s plan targets for the needs of the national economy. The company is currently a member unit of the Vietnam National Coal and Minerals Industry Corporation (Vinacomin). The company’s main activities include selling coal in the northern provinces from Ha Tinh and northwards.

In the market, after about half a year of sideways movement, the TMB stock of the Northern Coal Trading Joint Stock Company – Vinacomin suddenly saw a strong increase with 5 consecutive trading sessions (January 29 – February 2), including three sessions hitting the ceiling price. The price of TMB subsequently increased by nearly 38% from VND 43,300 per share to VND 59,800 per share. This is a new peak for TMB’s price since its listing on the HNX in mid-January 2017. Looking further ahead, this stock has increased by 130% in the past six months.

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