PVC financial statements Q2.2023

PVC: PVChem reported an increase in profit 2.4 times in the first half of 2023

July 26 at 15:18

According to the consolidated financial statements of Petrochemicals and Services Corporation gas (PVChem, HNX: PVC) on July 26, quarter 2/2023 businesses bring in 705 billion VND
dong of net revenue, down 15% compared to 839 billion billion recorded in the same period of the year 2022.

PVC's COGS also decreased 16%, down to 659 dong. Profit consolidated in the quarter of the enterprise reached 46.1 KY billion dong, down 12% compared to the same period last year before. Deduct the following expenses and profits
Tax in the second quarter of 2023 on PVC doors reached 5.8 billion VND.
15% decrease compared to the same period last year Accumulation of the first 2 quarters of 2023, PVChem brought in 1,316 billion dong of net revenue, up 3.4% over the same period last year. In which, the goods exchange revenue of enterprises decreased by 10 billion dong, to 1,167 dong pistil; service revenue increased by 56 billion VND, up to 196 billion VND.

Contrary to the decline in sales goods, cost of goods sold of
PVC increased by 39 billion dong, to 1,138 H. billion dong. This contributes to the cost of capital of PVChem in the first 2 quarters of the year increased by 4%, reaching 1,272 billion dong. The gross profit of the business is also because yet the expenditure still reached 92 billion dong, down 3.3% compared to the same period last year. Revenue from financial activities increased by 91%, to 17.48 billion dong, mainly increase in interest on deposits and loans (from 8 billion dong to 11.2 billion dong). On the contrary, PVChem's financial expenses decreased by 64%, still reached 5.5 billion dong, the decrease was mainly due to PVC's exchange rate loss decreased from 12.99. The dong dong fell to 1.49 dong.

🔮Sales and administration fees enterprises increased by 6% and 21%, respectively with the same period in 2022, reaching 16.9 billion dong and X 75.65 billion dong.
In the first half of 2023, PVC can 17.3 billion VND from income securities. Other (recorded in the same period of 627 million VND)
This contributes to the profit after tax of PVC reached 17.34 billion VND, 2.4 times higher than compared to the same period last year. On the balance sheet, as of date June 30, PVChem's total assets are 2,028 billion dong, down 9.6% from 2,245 billion the first day of the year. Volatility large comes from short-term assets, from 2,064 billion dong on the first day of the year fell to 1,857 billion dong at the end of the second quarter of 2023.

🔮The term deposit of the enterprise increased 27% over the same period in 2022, up to 157 billion dong. Accounts Receivable from Customers
short-term decrease from 1,214 billion dong to 995 billion dong. The company's inventory increased from
428 billion dong to 494 billion dong, an increase mainly in the cargo and consignment division went on sale for +6.2 % and +32% respectively
same period before holding. As of June 30, PVC's debt is 1,208 billion dong, down 14% compared to 1,412 billion winter holidays receive the first day of 2023.Clause payable to short-term sellers of the business
industry decreased by 479 billion VND to 258 billion VND winter. Borrows and short-term financial leases increased from 643 billion VND to 653 billion VND.