Ba Den Mountain tourist area attracts visitors, service exploitation company reports profit

Net revenue of Tay Ninh Tourism - Trade Joint Stock Company (TTT) in the fourth quarter of 2024 reached nearly 22 billion VND, after-tax profit was 1.5 billion VND.

Net revenue of Tay Ninh Tourism - Trade Joint Stock Company (TTT) in the fourth quarter of 2024 reached nearly 22 billion VND, after-tax profit was 1.5 billion VND.

According to statistics from the National Tourism Administration, Tay Ninh has welcomed more than 1 million tourists since the beginning of 2025. The Ba Den Mountain tourist area alone has welcomed about 1 million visitors since the beginning of the year. Of which, from the first day of Tet to the 12th day of the first lunar month, the number of visitors taking the cable car to Ba Mountain reached 886,000. On the fourth day of Tet alone, Ba Den Mountain welcomed a record number of visitors, nearly 150,000 visitors taking the cable car.

Two businesses operating services at Ba Den Mountain Tourist Area, including Tay Ninh Tourism - Trade Joint Stock Company (TTT) and Tay Ninh Ba Den Mountain Cable Car Joint Stock Company (TCT), have just announced their financial reports for 2024. Of which, Tay Ninh Tourism - Trade Company is the parent company, owning 51% of the capital of Ba Den Mountain Cable Car Company.

In 2024, Tay Ninh welcomed 5.6 million tourists, of which more than 90% took the cable car to Ba Den Mountain.

In the fourth quarter of 2024, TTT's net revenue reached nearly VND22 billion, with after-tax profit of VND1.5 billion, a significant improvement compared to the loss of more than VND9 billion in the same period last year. Revenue from goods and landscape cleaning accounted for a large proportion, about 74%. Meanwhile, revenue from cable car transportation, slides and parking reached nearly VND3.5 billion, accounting for 15%, with cable car service revenue increasing by 38% over the same period.

For the whole year of 2024, the company recorded revenue of VND 124 billion, down 12% compared to the previous year. Profit after tax reached VND 27 billion, down 18%.

As of December 31, 2024, the company had more than VND 7 billion in cash and nearly VND 23 billion in short-term deposits. Short-term receivables from customers accounted for 87% of total assets, of which receivables from short-term loans amounted to VND 372 billion. The company has no financial debt.

At Tay Ninh Mountain Cable Car Company (TCT), in the fourth quarter of 2024, the company's revenue reached nearly VND3 billion, with a profit after tax of nearly VND393 million, while in the same period last year it lost nearly VND4 billion. Revenue from cable car and sled transportation reached more than VND1.8 billion, up 50% over the same period last year. The company said the number of customers using the service increased, while the cost of system maintenance and repair decreased.

In 2024, revenue reached more than VND 27 billion, after-tax profit was nearly VND 12 billion, down 37% and 33% respectively compared to the previous year. The company has more than VND 2 billion in cash and short-term receivables of more than VND 306 billion, mainly short-term loan receivables. The company has no financial debt.

The major shareholder structure of Nui Ba Tay Ninh Cable Car includes Bao Viet Nhan Tho Tay Ninh Company (holding 9.38% of capital) and Bao Viet Group (6.62% of capital) as of December 31, 2024.

Tay Ninh Tourism - Trade Company was established under Decision No. 178/QD-UB dated December 28, 1982 of Tay Ninh Provincial People's Committee. In 2005, Tay Ninh Provincial People's Committee issued Decision No. 329/QD-CT on equitization of Tay Ninh Tourism Company. In 2006, the company officially transformed into Tay Ninh Tourism - Trade Joint Stock Company under Decision No. 259/QD-UBND.

In order to optimize business operations, in 2001, the Company separated the Cable Car Department to establish Tay Ninh Ba Mountain Cable Car Joint Stock Company. In 2003, the Hoa Binh Hotel Department and the Tourist Guide Center were separated to establish Tay Ninh Hotel - Travel Joint Stock Company (now Hoa Binh Hotel Company). In 2009, the Service - Tourism Center and the Tourist Guide Center were merged to establish Tay Ninh Travel Joint Stock Company.

From 2009 to 2011, the company handed over the management of the Ba Mountain Historical and Cultural Relic Site to the Tay Ninh Department of Culture, Sports and Tourism. However, in 2012, the right to represent the State capital ownership at the company was transferred from the Tay Ninh Provincial People's Committee to SCIC. In 2013, SCIC transferred this right back to the Tay Ninh Provincial People's Committee.

In 2013, Nui Ba Cable Car Joint Stock Company invested in a European technology cable car system, put into operation to serve the Nui Ba Spring Festival. In 2014, Hoa Binh Hotel Joint Stock Company operated the Conference Center and Wedding Restaurant. In 2015, the company took over the collection of entrance fees and service exploitation at the Historical - Cultural - Scenic and Tourist Site of Ba Den Mountain.

Source: https://baodautu.vn/khu-du-lich-nui-ba-den-hut-khach-tham-quan-cong-ty-khai-thac-dich-vu-bao-lai-d245330.html