**Vietnam Airlines and Other Enterprises Soar to Record-Breaking Profits in 2024**
The COVID-19 pandemic posed significant challenges, but Vietnam Airlines and several other enterprises have emerged triumphant, reporting impressive financial figures for 2024.
**Vietnam Airlines Escapes Losses:**
Vietnam Airlines, the national flag carrier, officially turned a profit in 2024, ending a streak of four consecutive years of losses. The airline generated 106,753 billion VND in revenue, a 17% increase from 2023, and achieved a remarkable after-tax profit of 7,267 billion VND, compared to a loss of 5,632 billion VND in the previous year. This marks the highest revenue and profit since the company’s listing. However, the airline still faces the challenge of accumulated losses, which exceed its charter capital, resulting in negative equity. To address this, Vietnam Airlines has received approval from the National Assembly to proceed with a share offering to existing shareholders, aiming to raise up to 22,000 billion VND in two phases.
**ACV Soars High:**
The Vietnam Airports Corporation, a state-owned enterprise, joined the league of profitable companies, recording impressive figures. They achieved a pure revenue of 22,555 billion VND and a net profit of 11,563 billion VND, marking a 13% and 37% increase, respectively, from the previous year. This performance underscores the highest profit ever recorded by ACV since its inception.
**FPT’s Technological Dominance:**
In the private sector, FPT Corporation, a technology giant, continued its successful streak. The group’s total revenue reached 62,849 billion VND, with a pre-tax profit of 11,071 billion VND, reflecting a remarkable 19% and 20% year-on-year growth, respectively. FPT’s net profit climbed to 7,849 billion VND, a 21% increase, marking the sixth consecutive year of record-breaking profits.
**FPT Telecom’s Stellar Performance:**
FPT Telecom, a subsidiary of the FPT Group, reported outstanding results, with pure revenue reaching 17,610 billion VND and after-tax profit touching 2,861 billion VND. These figures represent an impressive 11% and 18% year-on-year growth, respectively, setting new records for the company.
**PNJ Shines with Golden Opportunities:**
With gold prices soaring to new heights in the global and domestic markets in 2024, PNJ, a leading jewelry company, seized the opportunity. They recorded total revenue of 37,823 billion VND, a 14% increase from 2023. PNJ’s after-tax profit also climbed to 2,115 billion VND, a 7% increase, marking the highest revenue and profit in the company’s history.
**Gelex’s Electrifying Performance:**
Gelex Group witnessed a nearly 13% year-on-year surge in pure revenue, reaching 33,759 billion VND. This growth was primarily driven by a significant 31% increase in revenue from the electrical equipment sector, which offset declines in revenue from building materials and industrial real estate rentals. The company’s after-tax profit soared to 2,667 billion VND, triple the amount from the previous year, breaking its previous record set in 2021 when Gelex consolidated its business results with the Viglacera Corporation.
**IDC’s Industrial Strength:**
The industrial park giant, Idico, achieved a remarkable profit of nearly 2,000 billion VND in 2024, despite a setback in the fourth quarter. Their total revenue for the year stood at 8,846 billion VND, a 22% increase from 2023, with the main sources of income being electricity sales and land and infrastructure leasing in industrial parks.
**PAN Group’s Appetizing Success:**
PAN Group experienced impressive growth, with a 23% year-on-year surge in pure revenue, reaching 16,184 billion VND, and a 9% surpass of their plan. For the first time, their after-tax profit breached the trillion-dollar mark, reaching 1,148 billion VND, a 41% increase from 2023. This marks the third consecutive year of record-breaking profits for the group. PAN attributed this success to improved input costs and strategic inventory management by its subsidiaries.
**QNS Stays on a Sweet Course:**
QNS, the owner of the renowned Fami brand, maintained stability with revenue reaching 10,243 billion VND, while net profit rose by almost 9% to 2,377 billion VND. These figures represent the highest revenue and profit ever achieved by the company.
**SIP’s Energizing Performance:**
SIP, a leading provider of utility services in industrial parks, reported impressive results, with pure revenue surpassing 7,800 billion VND, a 17% year-on-year increase. Their after-tax profit climbed to over 1,278 billion VND, a 27% increase and the highest since their listing. The primary source of this success was their utility services, generating more than 6,547 billion VND, a 15% increase.
The Retail Sales and Consumer Service Revenue in the First Month Increase by 9.5% Year-on-Year
According to the General Statistics Office, the surge in domestic consumption during the Lunar New Year holiday, coupled with a robust recovery in tourism, significantly contributed to the growth of the trade and service sector. The total retail sales of goods and revenue of consumer services in January 2025 are estimated to have increased by 9.5% compared to the same period last year.
The Pen Is Mightier: A CEO’s Heartfelt Letter on Record-Breaking Capital and the Real Estate Market’s Resurgence
In 2025, the company plans to launch sales for four new projects: Izumi, Paragon, Can Tho, and Southgate.
Masan-Owned Phuc Long: Brewing Up a Storm with Over $200,000 in Daily Revenue and a Network of 170+ Stores
According to the financial report of Masan Group Joint Stock Company (MSN), in 2024, Phuc Long recorded a revenue of VND 1,621 billion, up 5.6% compared to the same period last year. This corresponds to a daily revenue of over VND 4.4 billion for the popular tea brand.
The Money-Making Education Boom: A Wealth-Teaching Company Reports a Staggering 800% Surge in Q4 2024 Revenue, the Highest in Three Years.
The company allocated a substantial amount of 6.3 billion VND to invest in securities, specifically targeting stocks of prominent entities. These include BIDV, the Vietnam Rubber Industry Group, Vietnam Oil and Gas Technical Services Joint Stock Corporation, VIX Securities, and the Vietnam Livestock Corporation.
The Rise of Vietnamese Aviation: Two Local Carriers Soar into the ASEAN Top Ranks, Surpassing National Carriers of Thailand, Singapore, and Malaysia
The two leading Vietnamese airlines boast an extensive flight network, offering passengers a vast range of destinations and an unparalleled travel experience. With a strong presence in the aviation industry, these airlines have established themselves as key players, providing convenient and efficient travel options to locals and international travelers alike. Their comprehensive route maps showcase a commitment to connecting people and places, ensuring that Vietnam remains a well-connected and accessible destination.
