AsemconnectVietnam - Pomia Steel JSC (code POM) has just announced its financial report for the second quarter of 2025 with a after-tax loss of VND170.3 billion in Q2/2025, accumulating a loss of VND329.7 billion in the first half of 2025.

In Q2/2025, the Company recorded net revenue of VND461.7 billion, down 25.1% over the same period last year. Cost of goods sold decreased more sharply by 38%, helping the Company reverse from a gross loss of VND50.8 billion in Q2/2024 to a gross profit of VND48.7 billion.
In this period, POM's financial revenue decreased by 81.7%, to just over VND400 million, while financial expenses increased by 10.4%, to VND165.3 billion. In addition, during the period, POM reduced its selling expenses by 39.4%, to VND 11.7 billion; meanwhile, its administrative expenses were negative at VND12.2 billion, while in the same period it was positive at VND50.5 billion, mainly due to revaluation of fixed asset depreciation.
However, the Company also recorded another loss of nearly VND66 billion, while in the same period it was only VND26.4 billion. As a result, POM lost VND170.3 billion after tax in the second quarter of 2025, down more than 39% compared to the loss of VND280 billion in the same period last year.
Pomina said that in the second quarter of 2025, the factory was still in a state of temporary suspension of operations, with revenue mainly coming from processing activities. However, thanks to strict control measures on irregular expenses, other expenses helped reduce losses compared to the same period.
Accumulated in the first half of 2025, POM's net revenue reached VND1,490.9 billion, up 37.1% over the same period in 2024. However, with large expenses, the Company lost VND329.7 billion after tax, down 34.8% compared to the loss of VND505.4 billion in the same period last year. This loss also increased POM's accumulated loss by the end of the second quarter to VND2,898.3 billion. As of June 30, POM's total assets were VND9,498 billion, down more than 4% compared to the beginning of the year. Accounting for more than 60% of the enterprise's assets were unfinished construction costs at VND5,723.6 billion, which was the cost of building the blast furnace and EAF furnace projects. In addition, POM still had VND388 billion in cash and cash equivalents; VND754 billion of short-term receivables and VND453 billion of inventories.
On the other side of the balance sheet, POM still has VND9,502 billion of payables, a slight decrease compared to the beginning of the year. Notably, POM still has VND5,701 billion of short-term debt and approximately VND719 billion of long-term debt.
POM has also just announced that it has signed a memorandum of understanding with Vietnam Steel Corporation (VNSteel, code TVN) on the establishment of Pomina Phu My Joint Stock Company in June 2024. Currently, the two sides are continuing to negotiate in detail and are expected to complete the procedures for establishing the company in the first quarter of 2026.
Pomina believes that this is a very good cooperation opportunity for both sides and is actively speeding up the progress of working with investors to soon sign investment cooperation contracts.
N.Nga
Source: VITIC/Tinnhanhchungkhoan