Vietnam Airlines (mã chứng khoán: HVN) has released its Q2 financial report, boasting impressive figures with a 20.4% revenue increase from the previous year, totaling 24,858 billion VND. Additionally, the company’s gross profit soared by 162% to 2,713 billion VND. Notably, Vietnam Airlines recorded a remarkable profit of over 900 billion VND in the second quarter, attributed to debt forgiveness. This resulted in a pre-tax profit of 1,146 billion VND, a significant improvement from the previous year’s loss of nearly 1,300 billion VND. The company’s net profit attributed to parent company shareholders stood at 934 billion VND, a remarkable turnaround from the previous year’s loss.
Vietnam Airlines benefited from debt forgiveness, resulting in a profit of over 900 billion VND.
For the first half of the year, Vietnam Airlines’ consolidated revenue exceeded 53,126 billion VND, a 20% increase compared to the same period in 2023. The consolidated pre-tax profit reached over 5,674 billion VND, including a trading profit of nearly 1,143 billion VND and other income of over 4,531 billion VND, largely due to debt forgiveness for Pacific Airlines by its partners.
In terms of operational results, the carrier transported nearly 11.5 million passengers and 143,000 tons of cargo and mail, reflecting a 10% and 42.1% increase, respectively, compared to the same period in 2023.
These achievements are commendable, especially considering the challenges HVN faces due to high fuel prices, unfavorable exchange rates, seasonal lows, and aircraft shortages caused by Pratt & Whitney’s global recall of engines.
With fuel prices remaining high at an average of 102.14 USD/barrel (a 30% increase since 2019), Vietnam Airlines incurred additional expenses of nearly 2,500 billion VND. Additionally, the VND/USD exchange rate, at 24,856 VND (a 7% increase since 2019), resulted in a 724 billion VND increase in expenses for HVN during the first six months. The depreciation of the Japanese yen also caused significant revenue losses for Vietnam Airlines in this key market.
The COVID-19 pandemic significantly impacted the aviation industry, reducing the number of aircraft in Vietnam from 230 to 160, a 32% loss in resources due to disruptions in the global supply chain. The global aircraft shortage has led to increased leasing costs, maintenance expenses, and aircraft part prices, while also prolonging the grounding of aircraft, resulting in revenue losses.
In other news, Hoa Phat Group (code: HPG) reported impressive figures for the second quarter, with a 34% year-on-year increase in net revenue, totaling 39,556 billion VND. Net profit surged by 127% to nearly 3,320 billion VND. Steel accounted for the largest share, contributing 96% and 91% to the company’s net revenue and net profit, respectively. Agriculture followed, contributing 4% to revenue and 7% to net profit, while real estate brought in 0.3% of revenue and 2% of net profit.
Hoa Phat Group’s Q2 net revenue increased by 34% year-on-year to 39,556 billion VND.
For the first six months of the year, Hoa Phat Group recorded a net revenue of 71,029 billion VND and a net profit of 6,189 billion VND.
Moving on, Petrovietnam Fertilizer and Chemical Corporation (PVFCo, known as Đạm Phú Mỹ, code: DPM) had a successful quarter, with a 6% year-on-year increase in net revenue, totaling nearly 3,950 billion VND. Net profit also rose significantly by 124% to nearly 236 billion VND.
For the first half of the year, DPM achieved a net revenue of 7,255 billion VND, a 4% increase, and a net profit of 503 billion VND, a 37% surge compared to the previous year. Thus, the company has accomplished 57% of its revenue target and 93% of its profit plan.
As of June 30, Đạm Phú Mỹ’s total assets stood at 15,740 billion VND, an 18% increase from the beginning of the year. Cash, cash equivalents, and deposits exceeded 9,700 billion VND, accounting for 62% of total assets and an increase of nearly 3,100 billion VND from the beginning of the year.
The company’s fertilizer and chemical production reached approximately 553,000 tons, a 15% increase year-on-year. Urea export volume nearly doubled to 100,000 tons, and the average export price of urea also increased by over 8%.
Vietnam Airlines sees promising results in its quest for financial balance
By the end of 2023, this business has incurred a total loss of over 5.8 trillion VND despite a 30% increase in revenue.
Dizzying experience for passengers as flights at Tan Son Nhat Airport are forced to reschedule
Due to inclement weather, a number of flights from Tan Son Nhat Airport in Ho Chi Minh City to various provinces and cities have been delayed, causing inconvenience to waiting passengers.
Steel sales volume in January 2024 increases nearly 60% YoY for Hoa Phat
The sales volume of hot-rolled coil steel, construction steel, and high-quality steel decreased by 16% compared to the last month of 2023, mainly due to the market preparing for the Lunar New Year holiday and having low demand.
