Airport operator ACV eyes quintupling yearly profits

By Anh Tu   May 6, 2022 | 06:00 am PT
Airport operator ACV eyes quintupling yearly profits
Passengers check in at Noi Bai International Airport in Hanoi. Photo by Shutterstock/gracethang2
The Airports Corporation of Vietnam (ACV) expects its pre-tax profits to top VND4.69 trillion, some 4.7 times higher than last year.

The operator of 22 airports across the country also targets a 2.6-time increase in revenues to VND12.56 trillion.

It reported all-time high profits of VND10.15 trillion in the pre-pandemic year of 2019, but Covid-19 dragged the business down, causing profits to fall to VND2 trillion and VND990 billion in 2020 and 2021, respectively.

It saw signs of recovery in the first quarter this year, with revenues doubling quarter-on-quarter to VND2.1 trillion and pre-tax profits reaching VND1.08 trillion, or 23 percent of its yearly plan.

ACV also plans to invest a maximum of VND20.07 trillion in key projects, including Long Thanh International Airport and T3 Terminal of Tan Son Nhat International Airport.

As of March 31, its total assets were over VND53.8 trillion, down VND1.14 trillion compared to the beginning of this year.

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