Calitoday (09/9/2025): In a stark reversal of its previous financial performance, Vietnam's National Money Printing Plant announced a significant accumulated loss of over VND 11.2 billion for the first six months of 2019. The figure stands in sharp contrast to the same period in 2018 and signals a downturn across several key financial metrics for the state-owned enterprise.
A Turn from Profit to Loss
The mid-year financial report reveals a dramatic shift in the company's fortunes. While the first half of 2018 saw the plant record a robust post-tax profit of more than VND 60.4 billion, the first six months of 2019 concluded with a notable loss of over VND 11.2 billion.
This downturn was driven by a substantial decline in net revenue from sales and services, which plummeted by more than VND 90 billion compared to the same period in the previous year. Consequently, the gross profit from these activities fell sharply by approximately 4.3 times compared to the first half of 2018, amounting to just under VND 20.3 billion. After accounting for related expenses, the net profit from business operations registered a negative figure of around VND 6.9 billion.
The primary reasons cited for the loss include a rise in corporate management expenses. Furthermore, although there was a reduction in financial costs, it was insufficient to offset a more significant drop in revenue from financial activities.
This recent performance interrupts a period of steady growth for the entity. In the fiscal years 2017 and 2018, the National Money Printing Plant had reported consistent increases in post-tax profits, recording VND 44.5 billion and VND 51.1 billion, respectively.
Surging Inventory Levels
Another noteworthy item in the H1 2019 financial statement is a sharp increase in inventory. By the end of the first six months of the year, inventory levels had surged to VND 950.5 billion. This represents a substantial increase from the VND 531 billion recorded at the end of 2017 and VND 424.3 billion at the close of 2018.
The National Money Printing Plant operates as a single-member limited liability company with 100% state-owned charter capital. Its mandated business activities, directed by the Governor of the State Bank of Vietnam, include the printing and minting of currency, the production of gold bars, and the creation of gold memorabilia and other valuable papers.
