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  • II. Financial Analysis: Petrolimex

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    Hoàng Trâm
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    Petrolimex's financial statements for 2019 and 2020 were analyzed horizontally and vertically. The horizontal analysis showed a minimal decrease of 1% in total assets and resources from 2019 to 2020. Many items decreased, with retained profits declining the most at 43%. Share capital remained almost unchanged, declining less than 0.1%. The vertical analysis showed current assets made up around 62% of total assets both years. Total liabilities increased as a percentage of total resources, rising from 58% in 2019 to 60.5% in 2020.

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    Petrolimex's financial statements for 2019 and 2020 were analyzed horizontally and vertically. The horizontal analysis showed a minimal decrease of 1% in total assets and resources from 2019 to 2020. Many items decreased, with retained profits declining the most at 43%. Share capital remained almost unchanged, declining less than 0.1%. The vertical analysis showed current assets made up around 62% of total assets both years. Total liabilities increased as a percentage of total resources, rising from 58% in 2019 to 60.5% in 2020.

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    78 views2 pages

    II. Financial Analysis: Petrolimex

    Uploaded by

    Hoàng Trâm
    Petrolimex's financial statements for 2019 and 2020 were analyzed horizontally and vertically. The horizontal analysis showed a minimal decrease of 1% in total assets and resources from 2019 to 2020. Many items decreased, with retained profits declining the most at 43%. Share capital remained almost unchanged, declining less than 0.1%. The vertical analysis showed current assets made up around 62% of total assets both years. Total liabilities increased as a percentage of total resources, rising from 58% in 2019 to 60.5% in 2020.

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    of 2

    II.

    Financial analysis
    (For the period of 2019 and 2020, I use mainly 2 ways to analyze the financial
    statement of Petrolimex: Horizontal and Vertical)

    1. Balance sheet

    Comparative Balance sheet - Horizontal analysis

    PETROLIMEX
    Balance sheet (Adapted)
    December 31, 2020 and 2019

    Increase (Decrease)
    (VND amounts in billions) 2020 2019 Amount Percentage
    Assets
    Current assets
    Cash and cash equivalents 10,612 11,276 (664) (5.88%)
    Account receivable 7,215 8,343 (1128) (13.5%)
    Other current assets 19,969 19,133 836 4.36%
    Total current assets 37,796 38,752 (956) (2.46%)
    Fixed assets 15,578 15,406 172 1.11%
    Investment property 209 189 20 10.6%
    Other long-term assets 7,523 7,415 108 1.45%
    TOTAL ASSETS 61,106 61,762 (656) (1.06%)
    Liabilties
    Current liabilities 35,400 34,173 1227 3.6%
    Long-term liabilities 1,580 1,666 (86) (5.1%)
    Total liabilities 36,980 35,839 1141 3.2%
    Equity
    Share capital 12,938 12,939 (1) (0.008%)
    Other equity 8,428 8,132 296 3.6%
    Retained profits 2,760 4,852 (2092) (43%)
    Total equity 24,126 25,923 (1797) (6.9%)
    TOTAL RESOURCES 61,106 61,762 (656) (1.06%)

    In general, Petrolimex's comparative Balance sheet show the decrease minimally


    in assets and resources in COVID-19 pandemic. It decreased just about 1% in
    percentage change. The reason of decrease is that many items went down from 2019
    to 2020, with the highest percentage change of Retained profit (43%). Share capital
    didn't seem to change, it was just under 1%.
    Comparative Balance sheet - Vertical analysis

    PETROLIMEX
    Balance sheet (Adapted)
    December 31, 2020 and 2019

    (VND amounts in billions) 2020 2019

    Assets Amount Percent of total Amount Percent of total


    Current assets
    Cash and cash equivalents 10,612 17.36% 11,276 18.25%
    Account receivable 7,215 11.8% 8,343 13.5%
    Other current assets 19,969 32.67% 19,133 31%
    Total current assets 37,796 61.83% 38,752 62.75%
    Fixed assets 15,578 25.5% 15,406 25%
    Investment property 209 0.34% 189 0.3%
    Other long-term assets 7,523 12.33% 7,415 11.95%
    TOTAL ASSETS 61,106 100% 61,762 100%
    Liabilties
    Current liabilities 35,400 58% 34,173 55.3%
    Long-term liabilities 1,580 2.5% 1,666 2.7%
    Total liabilities 36,980 60.5% 35,839 58%
    Equity
    Share capital 12,938 21.17% 12,939 21%
    Other equity 8,428 13.8% 8,132 13.15%
    Retained profits 2,760 4.53% 4,852 7.85%
    Total equity 24,126 39.5% 25,923 42%
    TOTAL RESOURCES 61,106 100% 61,762 100%

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