Vietnam Airlines (stock code: HVN) released its Q3 2024 financial report, posting a revenue of VND 26,600 billion, a 12.7% increase compared to the same period last year. Gross profit reached VND 2,744 billion, double the amount from the previous year, with a gross profit margin of 10.3%. This marks the highest gross profit for the airline since the outbreak of Covid-19.
Financial income stood at VND 563 billion, triple the amount from the previous year, largely due to favorable exchange rates, which contributed nearly VND 400 billion to the company’s net profit. Meanwhile, financial expenses, selling expenses, and administrative expenses all decreased.
As a result, Vietnam Airlines recorded a pre-tax profit of VND 975 billion, turning around a loss of over VND 2,000 billion in the same period last year. The company’s parent-owner equity earnings reached VND 768 billion, marking the third consecutive profitable quarter.
For the first nine months of 2024, Vietnam Airlines reported a revenue of VND 79,161 billion, a 17% increase year-on-year, with a net profit of nearly VND 6,000 billion. In contrast, the company suffered a loss of over VND 3,700 billion in the same period last year.
As of September 30, the airline still had a cumulative loss of VND 35,225 billion, resulting in negative equity of over VND 11,000 billion. The company’s total financial debt exceeded VND 22,000 billion.
Total assets and capital sources amounted to VND 57,351 billion, with fixed assets accounting for more than half of the company’s total assets, at VND 30,780 billion.
On October 31, Vietnam Airlines’ stock closed at VND 23,250 per share, marking the fourth consecutive session of gains and a 14% increase for the week.
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Following the resounding success of its inaugural season, Vietnam Airlines and SpaceSpeakers Group are thrilled to announce the return of the 5AM outdoor music event. The highly anticipated second season of 5AM will take place on December 7, 2024, at the Dalat College in the picturesque city of Dalat, Lam Dong Province.
Vinamilk: Overseas Market Revenue Surges 15.7%, Exports Remain the Key “Driver”
For the fifth consecutive quarter, Vinamilk’s overseas market revenue has maintained its stellar performance, with a notable boost from its export business. In the first nine months of the year, international markets contributed 8,349 billion VND to Vinamilk’s coffers, marking an impressive 15.7% increase.
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Vietnam Airlines Reports Third Consecutive Profitable Quarter, Outlines Recovery Plan from Controlled Status
Vietnam Airlines has announced impressive financial results, with a revenue of VND 26,830 billion, marking a 13% increase from the previous year’s figure of VND 23,569 billion. The airline’s remarkable performance is further highlighted by its consolidated after-tax profit of VND 862 billion, a significant turnaround from the loss of over VND 2,100 billion incurred in the same period last year.
