AsemconnectVietnam - Pomina Steel Joint Stock Company (POM – UPCoM) recorded a loss of VND146.2 billion in the second quarter, bringing the cumulative loss for the first half of 2026 to VND325 billion, raising the total cumulative loss to VND3,808.8 billion, equivalent to 136.19% of its charter capital.

In the second quarter of 2026, Pomina Steel recorded revenue of VND1,711 billion, an increase of 270.5% compared to the same period last year; the parent company's after-tax profit was a loss of VND146.2 billion compared to a loss of VND170.2 billion in the same period last year. The gross profit margin decreased from 10.5% to 7.5%.
During the period, gross profit increased by 169.5% compared to the same period last year, corresponding to an increase of VND82.5 billion, reaching VND131.2 billion. Financial expenses increased by 16.2% year-on-year, equivalent to an increase of VND26.8 billion, reaching VND192.1 billion; selling and administrative expenses recorded VND42.2 billion compared to a loss of VND11.8 billion in the same period, an increase of VND53.9 billion, and other activities showed insignificant fluctuations.
Therefore, the gross profit generated by Pomina Steel in the second quarter was insufficient to cover financial expenses.
Pomina Steel stated that although the increase in gross profit in the second quarter helped offset some of the incurred expenses, Pomina Steel still recorded a loss due to high financial expenses, mainly including interest expenses and interest/penalties for late payments to suppliers.
Cumulatively in the first half of 2026, Pomina Steel recorded revenue of VND2,176.9 billion, an increase of 46% year-on-year. The parent company's after-tax profit recorded a loss of VND325 billion compared to a loss of VND329.5 billion in the same period last year.
With continued losses in the first half of 2026, as of June 30, 2026, Pomina Steel has increased its total accumulated losses to VND3,808.8 billion, equivalent to 136.19% of its total charter capital, and simultaneously recorded negative equity of VND947.7 billion.
Regarding assets, as of June 30, 2026, Pomina Steel's total assets increased by 12.6% compared to the beginning of the year, corresponding to an increase of VND1,119 billion, reaching VND9,982.8 billion. Of this, the main asset recorded was VND5,716.2 billion in long-term work-in-progress assets, accounting for 57.26% of total assets; Short-term receivables amounted to VND1,500.2 billion, accounting for 15.03% of total assets; fixed assets totaled VND1,034.4 billion, accounting for 10.36% of total assets, and other items.
Regarding capital sources, as of the end of Q2, Pomina Steel had short-term debt of VND4,818.4 billion and long-term debt of VND718.9 billion.
Source: VITIC/Bao Tai chinh – Dau tu