VINACOMIN - VIET BAC MINING INDUSTRY HOLDING CORPORATION

VINACOMIN – Viet Bac Mining Industry Holding Corporation (VVMI) stands as one of the core mining entities within Vietnam’s state-owned coal and mineral ecosystem. Established on 23 January 2006 and operating as a joint-stock company, VVMI is heavily state-invested, with more than 98% ownership held by the Vietnam National Coal and Mineral Industries Group (TKV). Its long-standing presence in the mining sector underscores both strategic importance and stable operational continuity, particularly in the extraction and management of hard coal across key northern provinces.

The company maintains its registered headquarters at No. 1 Phan Dinh Giot, Hanoi, supported by major operational branches in Thai Nguyen and Lang Son. With nearly 3,900 employees, VVMI plays a vital role in supplying coal to Vietnam’s energy and industrial sectors, complemented by a wide range of registered activities, including coal exploitation, machinery repair, construction services, cement and lime production, and quarrying. This diverse operational portfolio reflects TKV’s integrated mining model, enabling VVMI to manage both upstream and downstream segments within the coal value chain.

Governance is structured under the leadership of Chairman Le Q. B., who oversees strategic direction, alongside General Director Tran H. B., responsible for day-to-day operations, and Deputy General Director Ngo N. S.. Their combined oversight supports VVMI’s mandate to enhance productivity while maintaining alignment with state-owned energy priorities.

Financially, VVMI recorded total assets of USD 79.31 million in 2023, reflecting a slight contraction from the previous year—a trend also seen across the coal sector due to shifting demand cycles and capital allocation adjustments. Despite the reduction in assets and a moderate decline in sales to USD 97.89 million, the company demonstrated strong resilience in profitability. Profit margins improved significantly to USD 8.77 million, a remarkable year-on-year increase of over 62%. Owner’s equity grew to USD 64.5 million, confirming VVMI’s strengthened financial base and stable long-term capital structure.

The company’s charter capital and paid-up capital remain at USD 43.14 million, consistent with its position as a state-controlled mining enterprise. Its listing under the stock symbol MVB on the UPCoM exchange enhances transparency and provides investors with visibility into VVMI’s performance. The combination of state backing, operational scale, and profitable recovery positions VVMI as an essential player in Vietnam’s coal industry, even as the sector navigates evolving energy transitions.

With a complex operating network and improving profitability, VVMI continues to reinforce its role as a reliable energy-linked industrial corporation. Its mining operations and diversified industrial activities make it an essential component of Vietnam’s resource development strategy. Suppose you would like a deeper analysis of VVMI’s financial health, liabilities, procurement risks, credit rating, and forward-looking forecasts. In that case, VNBIS is ready to provide a comprehensive Company Financial Report tailored to your needs.