Vinacomin - Mong Duong Coal JSC (MDC) has released its Q4 finance report, showing that revenue from sales and services totalled VND939 billion, an increase of 68.6 percent over the same period of 2021, and profits reached VND92.5 billion, a sharp rise of 823 percent.

For 2022, MDC’s revenue climbed to VND2.817 trillion, up by 21 percent over 2021, and post-tax profit was VND103 billion, up by 230 percent.

MDC, formerly known as Mong Duong Mine, was established in 1982. Its major operations include production, processing and trading of coal and other minerals; mining equipment manufacturing and repair; road, railway and sea transportation; and mining work building.

In 2022, it exploited 1.55 million tons of coal, while the consumed amount reached 1.58 million tons. With good business performance, MDC share prices climbed to nearly VND20,000 per share in February. Later, the prices fell to VND5,600 per share in mid-November amid the downward trend of the market. But market prices are on the rise, now trading at around VND10,000 per share.

Vinacomin Coal Import-Export JSC (CLM) has also reported impressive business results with net revenue of VND3.2 trillion in Q4 and VND13 trillion in 2022, increasing by 391 percent and 393 percent over the same periods the year before.

In the last quarter of 2022, CLM’s post-tax profit reached VND44 billion, an increase of 450 percent, while last year profits were VND337 billion, up by over 1,000 percent.

The good business results in 2022 were attributed to an increase in imports and mixed fertilizer. CLM won bids to provide coal to domestic steel mills in Vietnam with high profit rates.

When entering the Hanoi bourse in July 2022, CLM prices soared from VND42,000 per share to VND107,000 just after half a month. But later, prices fell sharply, bottoming out at VND50,000 per share. At present, CLM share prices are hovering around VND65,000.

As for Cao Son Coal JSC (CST), the miner has reported net revenue of VND2.14 trillion in Q4 2022, which represented a 27.5 percent increase over the same period in the year before. However, its post-tax profit was still high at VND168 billion, up 154 percent.

For 2022, CST’s revenue reached VND10.388 trillion, up by 19 percent, while its post-tax profit was VND340 billion, up by 191 percent.

CST’s board of directors released a resolution on expanding Cao Son mine, planning exploitation capacity of 4.5 million tons per annum.

CST shares traded between VND13,000 and VND20,000 in 2022.

Manh Ha