Many travel companies recorded declining business results last year, some divested capital from subsidiaries and dissolved a series of branches and representative offices.
People visit Ba Den mountain tourist area - Photo: SUN WORLD BA DEN
Tay Ninh Ba Mountain Cable Car Joint Stock Company earns more than 11 billion VND in profit
From December 25 to January 6, Ba Den Mountain tourist area (Tay Ninh) became a destination for more than 561,000 visitors.
On the 4th day of Tet alone, it is estimated that 181,000 visitors came to this place.
Currently, Tay Ninh Tourism - Trade Joint Stock Company (Tani Tour) participates in tourism business on Ba Den Mountain, which is known as the "roof of the Southeast region".
This enterprise had an effective business performance in the last quarter of the year compared to the same period in 2023, with total revenue reaching 31 billion VND, an increase of nearly 15%, while total costs decreased by nearly 23%.
These factors helped Tani Tour improve its profit target and earn a profit of VND 1.5 billion in the last three months of the year, while in the same period in 2023, it lost more than VND 9 billion.
Accumulated for the whole year, this company recorded net revenue of more than 124 billion VND and profit of 27.3 billion VND (down more than 18% compared to 2023).
Tani Tour specializes in selling beer, soft drinks, parking services, passenger transportation, environmental sanitation services, tree care, and landscape renovation and decoration.
Tani Tour's subsidiary is Nui Ba Tay Ninh Cable Car Joint Stock Company, which specializes in transporting tourists by cable car and tube car systems, with a profit of more than 11.5 billion VND in 2024.
Tani Tour's shareholder structure has not changed over the past year. Currently, Dia Cau Joint Stock Company owns 24.5% of Tani Tour's capital, followed by Olympia Company Limited and Anh Duong Construction Consulting Company Limited, each holding 24%.
Costs eat away at Vietravel's profits
Last year, Vietnam Tourism and Transport Marketing Joint Stock Company ( Vietravel) expanded its network of sales offices and branches nationwide.
This contributed to the company's net revenue in the last quarter of the year reaching VND1,484 billion, an increase of 8.5%.
Accumulated for the whole year, Vietravel's net revenue reached more than 6,740 billion VND, up 13.3%; of which, tourism service revenue contributed up to 98%.
However, the policy of expanding the market and increasing promotion and marketing, along with increasing input costs, has strongly affected the company's profits.
Cost of goods sold last quarter accounted for more than 92% of net revenue, higher than the same period last year.
Along with that, Vietravel's selling expenses increased by 18.5% and interest expenses increased by more than 40%, because the 2% interest support policy expired.
The above factors contributed to reducing the company's gross profit margin in the fourth quarter of 2024 to only 7.6% (down 3.8% compared to the same period in 2023).
Accumulated for the whole year, Vietravel's parent company's after-tax profit reached nearly 47.8 billion VND (down more than 40% compared to 2023).
Vietravel's group of guests experienced the fried chicken festival in Taiwan in December 2024 - Photo: Contributor
Many companies in the tourism industry recorded negative net cash flow from business operations last year. Vietravel was no exception, with a negative figure of more than VND157 billion.
By the end of 2024, Vietravel will have 1,186 employees. The company's total debt will increase to VND2,100 billion.
Of which, the majority is short-term debt, including short- and long-term loans and financial leases of more than VND 915 billion (an increase of nearly 30% compared to 2023).
In early 2025, due to the impact of the COVID-19 pandemic, Vietravel changed its direction and restructured, so it dissolved Vietravel Investment and Development Company Limited.
Currently, Hung Thinh Corporation owns 20.52% of Vietravel's capital, VinaCapital Fund Management Joint Stock Company holds 9.77% and Mr. Nguyen Quoc Ky, Chairman of the Board of Directors of the company, personally holds 10.96%.
Vietourist Holdings Joint Stock Company had a turbulent year when it had to dissolve seven branches and representative offices in Hue, Khanh Hoa, Binh Dinh, Phu Yen, etc. because it did not have a suitable business strategy.
At the same time, the company sold more than 4.2 million shares in Vietourist Travel Joint Stock Company and Hoang Kim Tay Nguyen Group Joint Stock Company.
The predecessor of Vietourist Holdings is Vietourist travel center and its main business is currently travel agency.
According to the consolidated financial report for the fourth quarter of 2024, the company's net revenue reached 31.3 billion VND, but the cost of goods sold was up to 37.5 billion VND.
Vietourist Holdings recorded a negative gross profit of VND 6.1 billion in the period compared to a profit of VND 1.6 billion in the same period in 2023.
Vietourist Holdings' net revenue in 2024 decreased by nearly 12% compared to 2023, reaching only 148 billion VND and a loss of nearly 5.3 billion VND, while the previous year it made a profit of more than 670 million VND.
Not only business results, the number of employees at this enterprise decreased by more than 10%, with only 89 employees by the end of 2024.
Cherry blossoms are in full bloom on the roads in the Valley of Love in Da Lat - PHOTO: TTC WORLD
Thanh Thanh Cong Tourism: financial revenue increased 10 times
Thanh Thanh Cong Tourism's net revenue in the fourth quarter of 2024 reached 146 billion VND, and gross profit reached 26.5 billion VND.
Thanks to the sharp increase in financial revenue during the period to more than VND 210 billion (profit from the sale of investments and securities), the company recorded a net profit from business activities of VND 72.3 billion.
The brilliant results of the last quarter of the year helped Thanh Thanh Cong Tourism improve the overall situation, especially partially offsetting the losses in the first and third quarters of 2024.
Accumulated for the whole year, the company's revenue, profit and net profit targets both decreased, reaching only 709.6 billion VND and 1.7 billion VND respectively.
At the end of 2024, this company sold all its capital at Palace Binh Thuan Company Limited to Ta Cu Mountain Tourism Joint Stock Company, with a transfer price of 76 billion VND.
The main business of Thanh Thanh Cong Tourism is tourism services, restaurants, hotels with prominent locations such as TTC World tourist area - Dalat Valley of Love.
According to its own data, this company owns 11 hotels/resorts, with about 1,400 rooms, four entertainment areas, serving more than two million visitors each year, and three conference centers, wedding receptions, and restaurants across the country.
Low season at Dam Sen Water Park
According to the 2024 consolidated audit report, Dam Sen Water Park Joint Stock Company's net revenue last year reached VND 217.6 billion, down more than 12% compared to 2023, and net profit was nearly VND 92.6 billion, down more than 17%.
Over the past year, the company's best results were in the second and third quarters, while the last quarter of the year recorded its lowest.
By the end of the year, the total number of employees at Dam Sen Water Park will still be 170 people, the same as at the end of 2023.
Regarding the shareholder structure, Phu Tho Tourism Service Joint Stock Company owns 33.54% of capital; while another major shareholder holding 10.63% is Mr. Kenji Yabe, an individual who received more than 5 billion VND in dividends last year.
Source: https://tuoitre.vn/cap-treo-tay-ninh-lu-hanh-vietravel-cong-vien-dam-sen-kinh-doanh-ra-sao-nam-qua-20250209134359903.htm
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