Ending Q2, HHV recorded consolidated net revenue of nearly VND 814 billion, up 33%; net profit of nearly VND 106 billion, up 12%, the highest profit quarter since being listed on HOSE early in 2022.
The two main contributors were the revenue from BOT toll stations of nearly VND 486 billion and construction activities of over VND 302 billion, up 20% and 58%, respectively.
| HHV’s net profit from Q1/2022 – Q2/2024 |
Together with the results of the first quarter, the company’s 6-month net revenue reached nearly VND 1,504 billion, up 31%, and net profit was VND 202 billion, up 20% over the first half of 2023.
Source: VietstockFinance
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Compared to the plan of VND 3,146 billion in revenue and VND 404 billion in after-tax profit for 2024, HHV has achieved 48% and 59% after the first half, respectively.
 Source: VietstockFinance
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If considering only the construction activities, HHV achieved nearly VND 499 billion in revenue, up 52% over the same period, contributing 33% to the total revenue in the first six months. This is considered the “sweet fruit” of HHV as it benefits from public investment projects across the country.
Source: HHV
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In the first half of the year, HHV completed the Cam Lam – Vinh Hao Expressway project, with a total investment of VND 8,900 billion, which was put into operation in late April 2024. In addition, the company has started the construction of the Dong Dang – Tra Linh Expressway project, phase 1, and the Huu Nghi – Chi Lang Expressway with a total investment of VND 25,300 billion.
For the Quang Ngai – Hoai Nhon project, with a construction contract value of more than VND 14,500 billion, Deo Ca sets the goal of technical route completion by the end of 2025 and completion for exploitation in Q2/2026. As for the coastal road project connecting Lien Chieu Port – Da Nang (with a total investment of more than VND 1,203 billion), it is expected to be completed in 2025.
The positive results in Q2 have helped HHV‘s total assets as of 06/30/2024 increase by 3% compared to the beginning of the year, to over VND 38,027 billion. Most of the capital is in the form of long-term assets, accounting for 96%, at VND 36,667 billion. The company is holding nearly VND 405 billion in cash and cash equivalents, up 37% from the beginning of the year.
Liabilities remained unchanged from the beginning of the year at VND 28,077 billion, mainly in long-term financial loans of nearly VND 19,050 billion, down 1% from the beginning of the year.
Mr. Nguyen Quang Huy – General Director of HHV once shared: “These long-term loans are financing for BOT projects and are guaranteed by toll revenue. This is a characteristic of public service projects where loans account for a large proportion of the project’s capital structure, and in the past, these projects did not have the participation of state budget capital.”
