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Tóm tắt:
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Disappointing 1H12 results due to shrinking gross margins. POM’s 1H12 sales volumes decreased 5% YoY, depressing revenue by 3% to VND5.6t, but gross margin shrank from 13% in 1H11 to 4% in 1H12 despite stable scrap prices because: 1) the decline in the factory utilisation rate from 80% to 50% increased fixed costs per unit, and 2) other input costs such as electricity and fuel increased. A stable VND
reduced POM’s net financial costs by 65% YoY but overall net profit plunged 90% YoY to VND33b in 1H12.
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