Education Publishing House records profits

The financial report of VietnamEducation Publishing House in 2024 recorded net revenue of VND 3,102 billion, up 14% over the same period. This unit had a gross profit of nearly VND 760 billion after deducting cost of goods sold, equivalent to a gross profit margin of 25%.

Most expenses decreased last year, with the biggest change being selling expenses, which decreased from VND215 billion to about VND150 billion. Interest expenses also decreased from VND40 billion to VND16 billion.

The company's pre-tax and after-tax profits increased by 12%, reaching VND384 billion and VND345 billion, respectively. These are both their highest levels since their establishment.

The business results of Vietnam Education Publishing House increased sharply even though they adjusted the prices of reprinted books (except for grades 5, 9 and 12). The cover price of the series Connecting Knowledge with Life decreased by 9.6%, while the series Creative Horizons decreased by 11.2%.

By the end of 2024, Vietnam Education Publishing House had total assets of more than VND 1,600 billion. Of this, about VND 540 billion was short-term bank deposits. Owner's equity reached VND 1,273 billion, while liabilities increased by 6% to approximately VND 330 billion.

Vietnam Education Publishing House was established in 1957 and currently operates as a one-member LLC with a charter capital of VND596 billion. The Ministry of Education and Training is the state representative agency that owns 100% of the capital here.

This unit is also the largest publisher in the country with nearly 40 member companies and capital contributions. For decades, they have had a monopoly on publishing textbooks for students. At the end of 2022, the Government Inspectorate determined that they abused their dominant market position and monopoly to register "unreasonably high" textbook prices.

VN (according to VnExpress)

Source: https://baohaiduong.vn/nha-xuat-ban-giao-duc-lai-ky-luc-412362.html