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POWER GENERATION JOINT STOCK CORPORATION 2

Active

Business ID 1800590430

84-292 / 246 1507 / 246 1506

POWER GENERATION JOINT STOCK CORPORATION 2

Active

Business ID 1800590430

84-292 / 246 1507 / 246 1506

POWER GENERATION JOINT STOCK CORPORATION 2

Active

Summary

Name:

POWER GENERATION JOINT STOCK CORPORATION 2

Business ID (TIN):

1800590430

Date of Registration:

13 Apr 2005

Registered Office:

Can Tho Department of Planning and Investment

Address:

No. 1, Le Hong Phong Street, Tra Noc Ward, Binh Thuy District, Can Tho City, Vietnam

Phone:

84-292 / 246 1507 / 246 1506

Fax:

(84-292) 2227 446 / 2227 447

Financial Statement:

2019, 2020, 2022, 2023, 2024

From a credit risk management perspective, POWER GENERATION JOINT STOCK CORPORATION 2 (TỔNG CÔNG TY PHÁT ĐIỆN 2 - CÔNG TY CỔ PHẦN), also known as EVNGENCO2, presents a mixed but generally stable financial profile with notable state backing. The company, operating under tax code 1800590430, is headquartered at No. 1, Le Hong Phong Street, Tra Noc Ward, Binh Thuy District, Can Tho City, Vietnam, and is a major electricity generator within the Vietnam Electricity (EVN) system, with EVN holding 99.86% of its shares.

As of 2023, the company maintained a substantial total asset base of approximately USD 1.07 billion, only slightly reduced from the previous year. Owner’s equity stood at USD 553.89 million, down 6.1%, signaling a modest contraction in retained earnings or revaluation adjustments. While both asset and equity bases have slightly decreased, the company's underlying capital structure remains strong, bolstered by a charter capital of nearly USD 488 million, which is fully paid up.

In terms of revenue, EVNGENCO2 reported USD 179.93 million in sales, representing a 7.62% decrease compared to the previous year. Although sales declined, the company delivered a remarkable 30.23% growth in net profit, achieving USD 142.73 million in earnings. This profitability surge, despite revenue pressure, suggests effective cost controls, operational efficiencies, or favorable shifts in pricing or production mix. This development is a key strength from a credit standpoint, indicating resilience in generating returns even under subdued revenue conditions.

The company reports a healthy working capital balance of over USD 116 million, providing ample liquidity to meet short-term obligations. Its operations are diversified within the energy sector, including not just electricity generation but also transmission, power-related mechanical manufacturing, industrial installations, and consultancy services. With just 100 employees, its relatively lean workforce, given its capital intensity, implies a reliance on automation and technology in the power generation process.

The dominant shareholder—Vietnam Electricity (EVN)—is a state-owned conglomerate, and its ownership significantly mitigates default risk, ensuring political and financial backing in times of stress. While the slight drop in total assets and sales should be monitored, the strong profit rebound, solid equity position, and strategic national importance of its operations position POWER GENERATION JOINT STOCK CORPORATION 2 as a low-to-moderate credit risk, with state ownership acting as a de facto guarantor. Future credit exposure should nonetheless be contingent on continued profitability trends and asset stability, particularly in light of sector-wide shifts in energy pricing and environmental regulations.

Legal Profile

English Name:

POWER GENERATION JOINT STOCK CORPORATION 2

Vietnamese Name:

TỔNG CÔNG TY PHÁT ĐIỆN 2 - CÔNG TY CỔ PHẦN

Short Name:

EVNGENCO2

Business ID (TIN):

1800590430

Date of Registration:

13 Apr 2005

Registered Office:

Can Tho Department of Planning and Investment

Ownership Status:

Privately held

Operation Status:

Active

Contacts

Key Decision Makers:

TRUONG H.V

Address:

No. 1, Le Hong Phong Street, Tra Noc Ward, Binh Thuy District, Can Tho City, Vietnam

Phone:

84-292 / 246 1507 / 246 1506

Fax:

(84-292) 2227 446 / 2227 447

Branch:

No. 143, Xo Viet nghe Tinh Street, Khue Trung Ward, Cam Le District, Da Nang City, Vietnam

Branch:

No 125, Tay Son Street, Quang Trung Ward, Quy Nhon City, Binh Dinh Province, Vietnam

Branch:

No. 143, Xo Viet Nghe Tinh Street, Khue Trung Ward, Cam Le District, Da Nang City, Vietnam

Branch:

Land No. 31, Map 23, Xo Viet Nghe Tinh Stree, Hoa Cuong Nam Ward, Hai Chau District, Da Nang City, Vietnam

Branch:

Quarter 8, Ward 5, Dong Ha City, Quang Tri Province, Vietnam

Branch:

Thoi Loi Area, Phuoc Thoi Ward, O Mon District, Can Tho City, Vietnam

Branch:

No 1, Le Hong Phong Street, Tra Noc Ward, Binh Thuy District, Can Tho City, Vietnam

Branch:

Vinh Hamlet, Ta Poo Commune, Nam Giang District, Quang Nam Province, Vietnam

Branch:

Cong Don Hamlet, Zuoih Commune, Nam Giang District, Quang Nam Province, Vietnam

Business Sector

Key business lines:

VSIC:

3511 Electric power generation

NAICS:

22111 Electric Power Generation

Industry Sales Growth

CAGR (2019 - 2023)

-35.63%

YoY (2023)

-44.16%

Companies by industry

Company distribution and propportions

5,028

0.1729%

Key Industry Players

Top 10 companies in electric power generation industry

petrovietnam power corporation quang ninh thermal power joint stock company vinacomin - power holding corporation power generation joint stock corporation 3 aes mong duong power company limited nghi son 2 power limited liability company power generation corporation 1 vinh tan 1 power company limited jaks hai duong power company limited janakuasa vietnam limited

Payment History

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Financial Performance

Assets	-66.65%
Owner’s Equity	-38.56%
Working Capital	-52.05%
Net Worth	-7.48%
Sales	73.51%
Operating income	-15.14%
EBIT	89.00%
Gross Profit Margin	-42.56%
Debt to EBITDA	-17.56%

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Opinion from Analysts

Specific Questions About POWER GENERATION JOINT STOCK CORPORATION 2

When did POWER GENERATION JOINT STOCK CORPORATION 2 start operating?

POWER GENERATION JOINT STOCK CORPORATION 2 was started in 13 Apr 2005

What industry does POWER GENERATION JOINT STOCK CORPORATION 2 operate in?

POWER GENERATION JOINT STOCK CORPORATION 2 is operating in "Electric power generation" industry

How can I contact POWER GENERATION JOINT STOCK CORPORATION 2?

POWER GENERATION JOINT STOCK CORPORATION 2 phone numbers is 84-292 / 246 1507 / 246 1506

What adverse news is there about POWER GENERATION JOINT STOCK CORPORATION 2?

POWER GENERATION JOINT STOCK CORPORATION 2’s has no negative news

What is stock symbol of POWER GENERATION JOINT STOCK CORPORATION 2?

POWER GENERATION JOINT STOCK CORPORATION 2 is not listed company

Where is the location of POWER GENERATION JOINT STOCK CORPORATION 2?

POWER GENERATION JOINT STOCK CORPORATION 2 is located at No. 1, Le Hong Phong Street, Tra Noc Ward, Binh Thuy District, Can Tho City, Vietnam

What is POWER GENERATION JOINT STOCK CORPORATION 2’s business registration?

POWER GENERATION JOINT STOCK CORPORATION 2 business registration is 1800590430

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