Dam Sen Water Park JSC (DSN) has just announced its consolidated financial report for the first quarter of 2023. During the quarter, the company recorded an 82% increase in net revenue to over VND54 billion. Revenue mainly comes from selling park tickets and providing goods.
According to DSN, the first quarter profit increased due to the number of visitors to Dam Sen Water Park reaching 289,868 tickets, an increase of 110.19% over the same period. Therefore, sales and service revenue increased by 81.8% over the same period, equivalent to more than 24.3 billion VND.
In addition, revenue from financial activities in the quarter reached more than VND886 million, up 130% over the same period due to increased term deposit interest rates.
After deducting capital costs, Dam Sen Water Park reported a profit after tax of VND19.6 billion, 2.3 times higher than last year.
During the peak summer season last year in the second quarter of 2022, DSN reported revenue of VND98.5 billion, nearly 7 times higher than the same period last year. The company achieved gross profit of more than VND67 billion, 11.6 times higher than the same period last year.
In 2022, Dam Sen Water Park recorded net revenue of VND 232 billion, more than 9 times higher than in 2021. Profit after tax was nearly VND 108 billion, equivalent to a profit of nearly VND 300 million per day. This is also a record high profit figure throughout the company's history of operation.
Currently, Dam Sen Water Park has total assets of 283 billion VND. Dam Sen Water Park has been operating since 1998 with initial charter capital of 45 billion VND.
Hanoi Entertainment Services JSC (HES), the owner of Ho Tay Water Park, has just announced its 2022 financial report. Last year, HES recorded revenue of more than VND 136 billion, an increase of about 7 times compared to the same period in 2021. Net profit was nearly VND 18.6 billion, a sharp increase compared to the loss of more than VND 29 billion in 2021. This profit is even higher than in 2019, before the pandemic.
According to HES, the entertainment needs that were suppressed by the pandemic for 2 years (2020 - 2021) have been resolved, the summer vacation of students has returned as many years ago... creating a strong attraction to attract customers to water parks.
In 2022, Ho Tay Water Park welcomed 434,058 visitors from inside and outside the capital, an increase of 418,650 visitors, equivalent to an increase of 2,717.1% compared to 2021.
Compete
Many new entertainment centers have emerged, making water parks face fierce competition. These businesses must constantly maintain and invest in new facilities to attract customers.
According to the leader of Phu Tho Tourist Service Joint Stock Company (Phu Tho Tourist), the owner of Dam Sen Water Park, the park is too old and unattractive to customers, especially young people today. In addition, the market is shrinking due to too many new entertainment venues competing and sharing the potential customer base.
This year, Dam Sen Water Park plans to spend VND10.3 billion on purchasing fixed assets and equipment. In addition, DSN will spend an additional VND86 billion on regular maintenance and investment in basic construction. The company also plans to spend VND14.1 billion on event budget and VND5.4 billion on advertising to attract customers.
Dam Sen Water Park presented its 2023 financial plan with total revenue of VND210 billion. The congress also approved the 2022 dividend payout ratio of 40%. The 2023 dividend payout ratio is at least 24%.
Similarly, the owner of Ho Tay Water Park said that this year, the company is looking for partners with strong finances, business capacity and passion for the entertainment sector to maximize the advantages of the water park, especially business cooperation in the 1.7-hectare area, overcoming the situation of ineffective investment at the New Sun Park.
This unit also promotes marketing to customers in neighboring provinces and Hanoi to increase the number of group visitors and student tours to West Lake Water Park. At the same time, research and add new game equipment and new products to serve the park.
This year, the company aims to achieve revenue of VND139.61 billion, an increase of 2.58% compared to 2022. Profit is VND17.4 billion, a decrease of 61.5% compared to 2022.
Not only water parks but many other types of amusement parks also have good business results. According to the 2022 audited financial report of Saigon Zoo and Botanical Gardens, the unit managing the entertainment activities of the Zoo and Botanical Gardens, net revenue reached 144.6 billion VND, a sharp increase compared to 45.3 billion VND last year.
After deducting expenses, Saigon Zoo and Botanical Garden's after-tax profit reached nearly 3 billion VND. Although not high, this level is still 3 times higher than the set plan and is the highest level in the past 10 years. In 2021, this company's profit was just over 500 million VND.
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