A petroleum stock increased shockingly by more than 4,000%, business results were very 'strange'

Revenue of thousands of billions but PTX's net profit margin is very thin - Photo: PTX

At the end of the session on August 23, PTX shares of Petrolimex Nghe Tinh Transport and Services Joint Stock Company (PTS Nghe Tinh) increased 3,243% after one quarter and 4,358% after one year.

Accordingly, from the 500 VND per share mark maintained for a long time, it has now increased to 21,400 VND - the highest level since trading on the UPCoM floor in 2018.

In a document explaining the reasons for the continuous ceiling price increase, the leader of PTS Nghe Tinh said that this development was mainly due to supply and demand factors in the stock market.

The company has not had any impact that directly affects the transaction price on the market. Currently, all business activities are still running normally and stably, according to the leader of PTS Nghe Tinh.

PTX stock price goes up vertically - Photo: Vietstockfinance

There have not been many recorded changes in PTS Nghe Tinh's business situation. The recently announced 2024 semi-annual financial report shows that revenue in the first 6 months of this year reached 1,075 billion VND, an increase of 4% over the same period.

PTX's after-tax profit reached 7.56 billion VND, up 38% over the same period. Although profit increased, with revenue of thousands of billions, PTX's net profit margin was very low and not very attractive to many investors.

Looking back at PTX's business data over a long period, it can be seen that this company's profits are thin, the net profit margin at many times was less than 1% and has not improved much up to now.

Like last year, the whole year's revenue reached more than VND 2,094 billion but after-tax profit only reached nearly VND 12.5 billion, net profit margin at 0.6%.

	BLNR
2020	0.6
2021	0.7
2022	0.5
2023	0.6
First 6 months of 2024	0.7

PTX's net profit margin is less than 1% - Data: TTO/BCTC

According to the explanation in the financial report, PTS Nghe Tinh was established in 2000 on the basis of equitization of Mechanical Transport Enterprise, current charter capital is more than 64 billion VND.

The number of employees by mid-2024 will reach 432 people. PTX's main business areas are trading in petroleum and petrochemical products, petroleum transportation, road freight transportation, driver training and testing, etc.

Regarding shareholder structure, Petrolimex Petroleum Services Corporation is the only major shareholder of this company, owning more than 3.28 million shares, accounting for 51% of charter capital.

The 2024 semi-annual management report also revealed that Mr. Hoang Cong Thanh's son and brother - Chairman of the Board of Directors of PTS Nghe Tinh - together hold 2.6% of the company's capital, equivalent to 152,550 shares. The remaining leaders (including the chairman) and related persons do not hold shares or only own less than 1%.

In 2024, this enterprise set a target of 1,843 billion VND in revenue and 10.4 billion VND in pre-tax profit, down 12% and 30% respectively compared to 2023.

It can be seen that the time when stocks fluctuated strongly occurred in the month when the company closed the right to pay cash dividends on June 17 at a rate of 15%.

Additionally, in June, Petrolimex Nghe Tinh Transport and Services Joint Stock Company approved the registration to list PTX shares on the Hanoi Stock Exchange (HNX).

Source: https://tuoitre.vn/mot-co-phieu-xang-dau-tang-soc-hon-4-000-ket-qua-kinh-doanh-rat-la-20240824112356956.htm