Revolutionizing Travel: Vietnam Railways Doubles Profits in Q2 2025 with the Introduction of Luxurious 5-Star Trains

Vietnam Railways (VNR) has released its consolidated financial report for Q2 and the first half of 2025.

For Q2 2025, VNR’s consolidated net revenue reached VND 2,823 billion, a 7% decrease compared to the same period in 2024. After deducting cost of goods sold, VNR’s gross profit was nearly VND 405 billion, a slight decrease of 1% year-on-year.

However, due to cost-cutting measures, especially a 18% reduction in selling and administrative expenses to VND 205 billion, VNR’s after-tax profit surged by 109%, from VND 52 billion to VND 109 billion. After-tax profit attributable to parent company shareholders witnessed an impressive 161% growth, reaching VND 93 billion.

For the first six months of 2025, VNR’s net revenue was VND 4,454 billion, a 3% drop compared to the previous year. VNR reported a consolidated after-tax profit of VND 175 billion, a 7% increase.

The decline in revenue was not due to their core business. In the first half of 2025, revenue from freight and passenger transport services increased by 8%, from VND 2,623 billion to VND 2,823 billion. The decrease in total revenue was attributed to a drop in the infrastructure repair and railway signal sectors, which fell by 18% from VND 1,803 billion to VND 1,483 billion.

As of June 30, 2025, the Corporation’s total assets amounted to VND 21,674 billion, an increase of VND 993 billion, or 5%, compared to the beginning of the year. Cash and bank deposits increased by nearly VND 589 billion to VND 1,985 billion.

Total liabilities stood at VND 5,111 billion, including VND 994 billion in total borrowings. Owners’ equity increased by over VND 1,000 billion to VND 16,564 billion.

Recently, VNR launched luxury tourist trains. On May 10, 2025, VNR inaugurated the “Hoa Phuong Do” luxury tourist train. The 20-carriage train features a modern design and luxurious interiors, blending the historical and architectural culture of Hai Phong, the port city.

The 34-seat VIP carriage has a flexible pricing strategy, with tickets ranging from VND 250,000 to VND 300,000, depending on whether it’s a weekday or weekend. Tickets for the 56-seat carriage are priced from VND 150,000 to VND 180,000, while the standard class tickets range from VND 105,000 to VND 130,000, also depending on the day of the week. The train also offers 64-seat standard carriages with flexible pricing.

Last year, on December 18, 2024, the SJourney Luxury train – Vietnam’s first luxury train – officially welcomed its first group of international passengers. This “train resort” model was introduced on the North-South railway line, with a total travel time of 8 days and 7 nights.

The SJourney Luxury train is designed with a limited number of passengers, accommodating around 60 guests per trip. According to the website, the all-inclusive package for one journey is priced at approximately USD 8,610 (over VND 225 million at current exchange rates).

Additionally, in May 2025, VNR resumed the international passenger train service between Vietnam and China, operating from Gia Lam station to Nanning (China), and introduced a direct train from Gia Lam to Beijing (China) and vice versa.

Ticket prices for the Hanoi-Nanning route are around VND 1,000,000 per ticket per way, while the Hanoi-Beijing route costs approximately VND 9,378,000 per ticket per way.