Aviation, railways, and sea transport all reported profits; Tien Len Steel declined again.

Vietnam Airlines, Vietjet, Vietravel Airlines make huge profits, Pacific Airlines also makes profits; Habeco's profit is lowest in nearly 4 years; Hanoi and Saigon Railways exceed annual profit plan; CADIVI has a new Chairman of the Board of Directors...

Vietnam Airlines, Vietjet Air, Vietravel Airlines make huge profits, Pacific Airlines also makes profits

In the context of high domestic ticket prices and recovery of international flights, airlines all reported profits.

Pacific Airlines , the low-cost carrier of Vietnam Airlines, has had a profitable quarter after continuous losses since Covid-19.

In the first 3 months of 2024, Vietnam Airlines Corporation achieved consolidated revenue of nearly VND 28,270 billion, an increase of over 25% over the same period last year. Of which, the parent company Vietnam Airlines earned more than VND22,100 billion. This is also the highest quarterly revenue since Vietnam Airlines transformed into a joint stock company in 2015.

Vietnam Airlines' revenue increased sharply in the context of a shortage of aircraft in the aviation market and high demand for travel during the Tet holiday, pushing up domestic airfares. At the same time, the airline's international flight operations have recovered. In the first quarter of 2024, international flights accounted for nearly 65% of Vietnam Airlines' total air transport revenue - approaching the proportion of the same period before the pandemic in 2019.

After deducting expenses, parent company Vietnam Airlines earned a pre-tax profit of about VND1,500 billion in the first quarter. During this period, the national airline also recorded other income of more than VND3,630 billion. According to Vietnam Airlines' explanation, this sudden increase in revenue was due to income from debt cancellation under the aircraft return agreement of its subsidiary Pacific Airlines.

Thanks to that, Vietnam Airlines' consolidated pre-tax profit was over VND4,528 billion. This is also the largest profit in the history of this enterprise. Previously, at its peak in the period of 2017-2019, the airline's consolidated pre-tax profit was only over VND3,000 billion per year.

As of March 31, Vietnam Airlines' equity was still negative at over VND12,500 billion. The corporation still had an accumulated loss of over VND36,700 billion - a decrease of about VND4,330 billion compared to the end of 2023.

Vietnam Airlines reported record profits while other domestic airlines also had bumper profits in the first quarter of the year. Vietjet posted a consolidated profit of nearly VND540 billion as air transport revenue increased 38% year-on-year to VND17,765 billion.

Vietravel Airlines achieved revenue of more than VND490 billion in the first quarter, helping to generate a net profit of more than VND10 billion. This is also the first time this travel airline has made a profit for 3 consecutive months since taking off in early 2021.

Vietnam Airlines did not disclose detailed figures, but said Pacific Airlines was also profitable. Previously, Vietnam Airlines’ low-cost carrier had not recorded a positive profit in any quarter since the Covid-19 pandemic broke out.

Hanoi and Saigon Railways exceed annual profit plan

A recent financial report shows that Hanoi Railway Transport Joint Stock Company (HRT) achieved first-quarter revenue of more than VND710 billion, up 13% over the same period in 2023. This figure reached the highest level in nearly 9 years. The company reported a profit of more than VND34 billion after tax, up 87%. This figure is a significant improvement compared to the loss of nearly VND84 billion in the last quarter of last year.

Similarly, Saigon Railway Transport Joint Stock Company (SRT) recorded a revenue increase of more than 13% in the first 3 months of the year to about 556 billion VND. This is the highest revenue in nearly 5 years. Accumulated profit after tax increased by 25%, reaching nearly 33 billion VND, significantly improving the loss of nearly 70 billion VND at the end of 2023.

Hanoi Railway and Saigon Railway are the two largest members of Vietnam Railways Corporation (VNR).

SRT management said that in the first quarter, the company innovated its business methods, including developing suitable train operation plans, ticket sales plans, and reasonable ticket prices. In addition, passenger travel demand also increased, especially during and after the Lunar New Year.

Similarly, HRT recorded an increase of nearly VND59 billion in passenger and baggage transport revenue, contributing nearly two-thirds of the total revenue growth. In addition, the company also has many measures to help control costs, especially financial costs.

After only the first three months of the year, Hanoi Railway and Saigon Railway have exceeded their annual profit plans by about 2.8 times and 3 times, respectively. This year, the two companies are concerned that the economy and people's incomes have not recovered, affecting travel demand, increasing inflation, pushing up fuel prices. Therefore, they have proposed very cautious business plans. SRT also believes that the railway industry is vulnerable to competition from other means of transport, especially aviation, while the industry's internal capacity has not shown positive changes.

Hanoi Railway and Saigon Railway are the two largest members of Vietnam Railways Corporation (VNR). HRT manages routes from Hanoi to Ho Chi Minh City, Lao Cai, Dong Dang, Hai Phong and two routes Yen Vien - Quan Trieu, Kep - Cai Lan. The company also organizes international freight and passenger transportation through the two border gates Ha Khau and Huu Nghi. This enterprise said it owns 600 passenger carriages, 3,300 freight carriages and 5,000 employees.

Meanwhile, SRT manages routes from Ho Chi Minh City to Hanoi, Nha Trang, Tuy Hoa, Da Nang, Hue, Vinh, Lao Cai, Hai Phong, Lang Son, etc. The company also operates tours to famous tourist destinations. In addition, SRT also owns business locations at major stations across the country such as Song Than, Saigon, Nha Trang, Da Nang, Giap Bat, Hanoi, Lao Cai and Dong Dang.

Vietnam National Shipping Lines net profit over 342 billion in the first quarter of the year

Vietnam National Shipping Lines - JSC (VIMC) has just announced its financial statements for the first quarter of 2024 with a net profit of more than 342 billion VND, an increase of 32% over the same period.

Port operations , maritime services and transportation activities continue to contribute significantly to VIMC's revenue.

According to the Q1/2024 financial statements, port operations, maritime services and transportation activities continue to be the main contributors to VIMC's revenue, bringing in VND 1,703 billion and VND 1,084 billion, respectively, accounting for a total proportion of more than 77% of revenue. On the other hand, revenue from these two activities also increased by 17% and 1%, respectively, compared to the same period last year.

After deductions, VIMC's net revenue was over VND3,596 billion, up 26% over the same period. However, gross profit margin decreased by 2.6 percentage points to 20.2%, mainly due to a 1.8 percentage point decrease in the margin of transportation activities, while port exploitation and maritime services activities only increased slightly by 0.8 percentage points. Thereby, Vinalines' gross profit was over VND726 billion, up 12%.

Financial activities were a bright spot with revenue of nearly VND169 billion, up 47%, thanks to a sharp increase in profits from the sale of investments, exchange rate differences during the period and revaluation of ending balances. Meanwhile, expenses decreased by 21% to more than VND75 billion, thanks to a reduction in interest expenses. With these results, VIMC's profit from financial activities reached VND93 billion, 4.8 times higher than the same period last year.

Another factor supporting growth is that profits from joint ventures and associates increased by 95%, reaching more than VND40 billion.

Habeco's profit is lowest in nearly 4 years

According to the financial report of Hanoi Beer - Alcohol - Beverage Corporation (Habeco - BHN), revenue in the first quarter of the year increased by more than 10% to nearly VND 1,320 billion. After deducting the cost of goods sold, the company's gross profit was nearly VND 267 billion, up 8.5%.

However, Habeco lost nearly VND21 billion after tax, 5.7 times higher than the same period last year. After three quarters of good business, the company returned to its highest loss since the first quarter of 2020.

In 2024, Habeco plans to have revenue from main product sales and profit after tax lower than the previous year's results.

The negative profit comes from Hanoi Beer increasing its investment in marketing activities. In the first three months of the year, sales expenses increased by 13%, to more than VND230 billion. The company spent over VND34 billion on sales staff costs, VND6 billion more than the same period. The most expensive cost was advertising, promotion and support costs, nearly VND105 billion, an increase of VND30 billion. This is also the largest figure among all of Habeco's business operating expenses.

In addition, the decline in financial revenue also affected the business results of the Northern beer company. During the period, Habeco recorded nearly VND38 billion in this item, 16% lower than the same period due to the decrease in mobilization interest rates. The company is depositing about VND3,464 billion in banks.

A subsidiary of Habeco, Hanoi - Hai Duong Beer (HAD), reported a loss of more than VND1 billion, five times higher than the same period last year. HAD said this was the result of the increase in the USD exchange rate when purchasing raw materials, reduced consumption due to the weather, and the impact of Decree 100.

With many negative market forecasts, this year, Habeco plans to have sales revenue of about 6,543 billion VND and after-tax profit of 202 billion VND, both lower than the results of the previous year. With the first quarter results, the company is still far from the above profit target.

Tien Len Steel but... profits decrease

In the first quarter of 2024, Tien Len Steel recorded revenue of VND 1,261.47 billion, down 11.9% year-on-year, and after-tax profit of VND 0.95 billion, down 84.9% year-on-year. Of which, gross profit margin remained at 3.4%.

Tien Len Steel recorded a 11.9% decrease in revenue in the first quarter of 2024 compared to the same period last year.

During the period, gross profit decreased by 13% compared to the same period, equivalent to a decrease of VND 6.34 billion, to VND 42.36 billion; financial revenue increased by 239.1%, equivalent to an increase of VND 5.57 billion, to VND 7.9 billion; financial expenses decreased by 4.2%, equivalent to a decrease of VND 0.96 billion, to VND 22.12 billion; sales and business management expenses increased by 21.3%, equivalent to an increase of VND 4.73 billion, to VND 26.91 billion and other activities fluctuated insignificantly.

Thus, at the end of the first quarter of 2024, Tien Len Steel's profit decreased mainly due to a decline in gross profit, as well as increased sales and business management costs.

Tien Len Steel added that revenue decreased due to lower sales volume compared to the same period, and gross profit decreased because the average cost of goods sold was still relatively high.

CADIVI has a new Chairman of the Board of Directors

According to the newly announced information, Mr. Le Ba Tho will take the position of Chairman of the Board of Directors of Vietnam Electric Cable Corporation (CADIVI) from May 3.

Mr. Le Ba Tho, new Chairman of the Board of Directors of Vietnam Electric Cable Joint Stock Company (CADIVI)

Mr. Le Ba Tho was elected to the Board of Directors of CADIVI at the company's 2024 Annual General Meeting of Shareholders on the afternoon of May 3. At the first meeting of the Board of Directors of CADIVI held immediately afterwards, Mr. Tho was elected as Chairman of the Board of Directors of CADIVI for the remaining term of 2022-2027.

Mr. Le Ba Tho, born in 1981, has a Bachelor's degree in Accounting and Auditing and a Master's degree in Business Administration. He has nearly 20 years of experience in finance and business administration and has held many important management positions in many enterprises.

Mr. Tho is currently Vice Chairman of the Board of Directors of GELEX Group (parent company of GELEX Electric Company - owning more than 96% of CADIVI shares). Mr. Tho is also Chairman of the Board of Directors of GELEX Infrastructure JSC and a member of the Board of Directors of Viglacera Corporation - JSC.

Mr. Le Ba Tho's predecessor was Mr. Nguyen Van Tuan. After more than 7 years of working, Mr. Tuan submitted his resignation and was approved by the CADIVI Board of Directors at the Annual General Meeting of Shareholders on May 3, 2024.

Also on this occasion, CADIVI has a new General Director, Mr. Ho Quang Nhan, who has been with the company for 12 years and was Deputy General Director.

At the 2024 Annual General Meeting of Shareholders, CADIVI's Board of Directors has set out orientations emphasizing maintaining the Southern market, developing the Central market, especially the Northern market through capacity building, and continuing to build a dealer system. By focusing on R&D and anticipating the green living trend, CADIVI has launched many new breakthrough products with outstanding features, safety, and environmental friendliness.

The General Meeting of Shareholders also approved CADIVI's 2024 production and business plan with a target of consolidated revenue of VND 11,068 billion and consolidated pre-tax profit of VND 460 billion.

Source: https://baodautu.vn/hang-khong-duong-sat-duong-bien-deu-bao-lai-thep-tien-len-lai-lui-d214357.html