VIET NAM EDUCATION PUBLISHING HOUSE LIMITED COMPANY

VIET NAM EDUCATION PUBLISHING HOUSE LIMITED COMPANY (Công ty TNHH Một Thành Viên Nhà Xuất Bản Giáo Dục Việt Nam) is the dominant state-owned publisher in Vietnam’s educational book industry. Established in 2004 and under the full ownership of the Ministry of Education and Training, the company holds a monopolistic role in compiling, editing, printing, and distributing textbooks and educational materials for schools nationwide. It is legally registered as a one-member limited liability company with a charter capital of over USD 24.48 million and employs around 1,000 people.

Headquartered in Hanoi with branches in Da Nang and Ho Chi Minh City, the company benefits from institutional alignment with the education system and consistent textbook demand. However, the latest financials suggest that while revenue has grown steadily, profitability shows signs of pressure. In 2023, total sales reached USD 111.58 million, representing a 13.78% increase compared to the previous year, continuing a three-year streak of top-line growth. However, profit declined to USD 12.71 million, down 6.56% from 2022. This is the first reported drop in profit since at least 2021, when profit had risen by a staggering 168% over the previous year. The slowdown may reflect increased costs in printing, distribution, or possibly tighter pricing policies amidst public scrutiny and regulatory oversight.

The company's total assets slightly improved to USD 52.86 million in 2023, after a sharp contraction in 2022 when assets fell by more than 21%. This minor rebound of just 1.38% does not suggest a strong recovery in its capital investment or operational expansion. At the same time, owner’s equity inched up 2.81%, showing modest value retention but hinting at constrained reinvestment capacity.

Although VIET NAM EDUCATION PUBLISHING HOUSE LIMITED COMPANY enjoys a protected market position and stable revenue base, the declining profit margin, flat asset base, and slow equity growth point to an operational model needing modernization and cost restructuring. The challenge lies in sustaining efficiency while serving a public mandate in a shifting educational environment where digital content, diversified suppliers, and transparency are increasingly demanded.