Pomina recorded a gross profit of VND 131 billion in the second quarter, compared to a gross loss of VND 48.6 billion in the same period last year. Its gross profit margin also improved from negative 10.5% to positive 7.7%.
However, high interest expenses prevented the company from returning to profitability. Pomina reported a net loss of VND 146 billion (USD 5.6 million) in the second quarter, with the loss decreasing by 14.2% year on year.
The company stated that higher production and sales volumes during the second quarter supported both revenue and gross profitability. However, finance costs, particularly interest expenses as well as late payment interest and penalties payable to suppliers, continued to weigh on earnings.
In the first six months of the year, Pomina's net sales increased by 46% year on year to VND 2.18 trillion (USD 83 million), while its gross profit reached VND 166 billion. However, the improvement in its gross profit margin remained limited, increasing from 7.3% to 7.7%.
Pomina set a revenue target of VND 8.51 trillion for 2026, stating that the target is expected to be largely supported by demand from the Vingroup ecosystem and sales to its traditional markets. In this context, the company signed a two-year financing support agreement with Vinhomes and continues to supply steel to Vinhomes and VinFast projects within the Vingroup ecosystem.
Meanwhile, Pomina Steel 2, in which Pomina holds a 99.5% stake, returned to profitability in the second quarter. However, the subsidiary still recorded a loss in its overall performance for the first six months of the year.
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