Saigon Cargo Service Joint Stock Company (SCS) has released the minutes of its upcoming 2025 Annual General Meeting of Shareholders, scheduled for June 26th.
For 2025, SCS aims for a revenue of VND 1,172 billion, reflecting a growth of over 7% from the previous year. The company targets a pre-tax profit of VND 860 billion, a 10% increase from last year’s record, with a projected dividend ratio of 30%. These goals are based on forecasts of an 8% rise in domestic cargo volume to 67,000 tons and a 5% increase in international cargo to 216,000 tons.
In 2024, this aviation enterprise witnessed robust performance, with revenue surpassing VND 1,000 billion for the first time in history, a 47% year-on-year increase. Pre-tax profit and net profit reached VND 783 billion and VND 693 billion, respectively, translating to a 38% and 39% jump from 2023, marking the highest profits since the company’s inception.
SCS currently holds approximately 49% of the market share at Tan Son Nhat Airport and is renowned for its high profitability on the stock exchange. Over the years, the company has consistently maintained a gross profit margin of 70-80%, resulting in a gross profit roughly four times its cost of goods sold.
Moreover, SCS boasts a healthy financial position, with two-thirds of its assets in cash and cash equivalents, and no financial debt. As of the end of 2024, SCS held VND 1,271 billion in cash and bank deposits, against total assets of VND 1,900 billion. Accumulated undistributed post-tax profits exceeded VND 370 billion.
Given these impressive results, SCS proposes a cash dividend payout of 60%, equivalent to VND 6,000 per share, totaling VND 569 billion. Having already distributed an interim dividend of 30% in January 2025, the company plans to pay out the remaining 30% in the upcoming period, subject to shareholder approval.
Getting Ready for Collaboration on the $16 Billion Super Project
Strategically, one of SCS’s key focuses for 2025 is to meticulously prepare its financial and human resources for collaboration with the Vietnam Airports Corporation (ACV) in operating the cargo terminal at the Long Thanh International Airport.
This move holds significance for SCS as the impending operation of Long Thanh Airport will see a shift in international cargo clearance to the new airport, reducing the load on Tan Son Nhat Airport and potentially impacting SCS’s current business operations.
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