Pomina Steel Joint Stock Company (POM) reported a financial statement for Q2 2025, showing a 25% decline in net revenue to 462 billion dong compared to the same period last year. The factory is still temporarily closed, with revenue primarily from outsourcing activities. The gross profit improved to nearly 49 billion dong, recovering from a gross loss of nearly 51 billion dong in the previous quarter. However, financial revenue plummeted to only about 412 million dong, down from 2.2 billion dong last year, due to a shortfall in foreign exchange profit. Financial expenses increased by 10%, and total liabilities reached 9.502 trillion dong, with equity turning negative at 4.1 billion dong. Pomina recorded an after-tax loss of 170 billion dong, an improvement from a loss of 280 billion dong last year, marking the 13th consecutive loss quarter. For the first half of 2025, revenue increased by 37% to 1.491 trillion dong, but the loss stood at 330 billion dong, down from 505 billion dong in 2024. Total assets decreased by 4%, totaling 9.498 trillion dong, mostly from unfinished construction costs.
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