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Industry
Jun 19, 2018 / 14:24

Vinacomin's 2017 pre-tax profit triples to US$131 million

Nguyen Tung

Vietnam National Coal and Minerals Group (Vinacomin), Vietnam`s largest coal producer, said its pre-tax profit reached VND3 trillion (US$131 million) in 2017, nearly tripling the number in 2016, according to the group`s consolidated financial statement.

According to the report, Vinacomin's revenue in 2017 stood at VND79.2 trillion (US$3.47 billion), up 11.5% year-on-year.  
 
Illustration photo.
Illustration photo.
Of the total, coal and minerals mining contributed 76% to the revenue, while electricity production accounted for 14%.

In 2017, Vinacomin had financial expenses of VND5.36 trillion (US$235 million), representing an increase of 32% against 2016, sales expenses of VND3 trillion (US$131 million), up 7.2% and management expenses of VND5.9 trillion (US$259 million), down 4%. 

At the end of December 31, 2017, the group's total assets were valued at VND140 trillion (US$6.14 billion), little changed from the beginning of the year. Of the sum, fixed assets were worth VND84.9 trillion (US$3.72 billion), inventory VND17.8 trillion (US$780.5 million) and long-term assets in progress of VND11.6 trillion (US$508.6 million). 

Vinacomin's equity reached VND40.8 trillion (US$1.78 billion), up 4% as compared with the year beginning. The group's payables increased to VND99.3 trillion (US$4.35 billion), slightly down 1.4% year-on-year.

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