On average, HHV records 5.4 billion VND in revenue from BOT toll collection every day.
In the first 6 months of 2024, the traffic volume through toll stations operated and exploited by Deo Ca Traffic Infrastructure Investment Joint Stock Company (stock code: HHV) reached more than 11.9 million vehicles, an increase of 13% over the same period last year.
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In 2024, HHV targets consolidated revenue of VND 3,146 billion, after-tax profit of VND 404 billion, up 17% and 11% respectively compared to 2023. In particular, business results in the first 6 months of 20234, HHV is estimated to achieve a profit of VND 221 billion, equal to 55% of the profit plan for 2024.
Previously, in the first quarter of 2024, HHV recorded revenue of VND 690 billion, up 28% over the same period. BOT toll revenue still accounts for a large proportion (69%) of HHV's total revenue, reaching VND 477 billion, up 23% over the same period in 2023.
HHV Company representative said that in the first 6 months of 2024, the traffic volume through HHV toll stations was more than 11.9 million vehicles, an increase of 13% compared to the first 6 months of 2023. On average, BOT toll stations are estimated to bring the company more than 5.3 billion VND per day.
HHV is an enterprise investing in many large BOT projects, spanning across the country including: Bac Giang – Lang Son expressway; Cam Lam – Vinh Hao expressway; expansion of National Highway 1 through Khanh Hoa; Deo Ca tunnel; Cu Mong tunnel; Hai Van tunnel; Phu Gia – Phuoc Tuong tunnel…
In particular, the BOT project to invest in building a road tunnel through Deo Ca (including Deo Ca, Co Ma, Cu Mong, Hai Van tunnels) has a total investment of VND 21,612 billion. In the first 6 months of 2024, toll revenue is expected to reach VND 651 billion, an increase of 29% over the same period.
The above mentioned mountain tunnel projects, when completed and put into operation, will help shorten travel time and reduce accidents on mountain passes.
In particular, since the Deo Ca tunnel and Cu Mong tunnel on National Highway 1 were built, the “bottleneck” has been removed, breaking the “oasis” of Phu Yen province, opening the door to trade, promoting socio-economic development, creating momentum for industrial and tourism development in the central coastal region, strengthening regional connectivity, connecting Phu Yen with Van Phong economic zone and Nha Trang city, neighboring industrial parks and tourist areas in the region.
Hai Van Tunnel is the longest road tunnel in Southeast Asia, with a total length of tunnel and approach road of more than 12.6 km, connecting Thua Thien Hue province and Da Nang city.
When put into operation, the time for vehicles to travel through the tunnel is about 15 minutes instead of more than 60 minutes on the mountain pass, creating momentum for industrial, socio-economic and tourism development for Thua Thien Hue province, Da Nang city and the entire Central region, and at the same time being the gateway for the East-West traffic axis from Laos, Thailand to the East Sea, to the world.
In late April 2024, HHV took over the management and operation of the Eastern North-South Expressway, Cam Lam - Vinh Hao section. This North-South Expressway PPP project has a total investment of more than VND 8,900 billion, of which HHV participated in the investment through the form of business cooperation with an amount of more than VND 400 billion.
Since the Cam Lam - Vinh Hao expressway officially started collecting tolls at the end of May 2024, an average of more than 9,000 vehicles have passed through the route every day, higher than expected in the initial financial plan.
In the medium and long term, traffic through HHV's stations will continue to increase due to the growing demand for people's travel and freight transport on the North-South economic corridor.
At the same time, because most of the transportation projects implemented by HHV are ahead of the trend of future infrastructure development, direct connection to the North-South Eastern Expressway will help the company's revenue from BOT toll collection to grow strongly.
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