A petroleum stock increased shockingly by more than 4,000%, the 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 Service Joint Stock Company (PTS Nghe Tinh) increased by 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 no direct impact on the transaction price in 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

PTS Nghe Tinh's business situation has not recorded many breakthroughs. The recently released 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 VND7.56 billion, up 38% over the same period. Although profit increased slightly, 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, with net profit margins at many times being less than 1% and not improving much up to now.

Like last year, the whole year's revenue reached more than 2,094 billion VND but after-tax profit only reached nearly 12.5 billion VND, 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, with current charter capital of 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 the son and brother of Mr. Hoang Cong Thanh - 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 VND 1,843 billion in revenue and VND 10.4 billion in pre-tax profit, down 12% and 30% respectively compared to 2023.

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

In addition, in June, Petrolimex Nghe Tinh Transport and Service Joint Stock Company approved the registration for listing of 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