Vietnam airport operator posts highest profit since listing

By Anh Tu   July 31, 2022 | 04:07 am PT
Vietnam airport operator posts highest profit since listing
Passengers complete check-in procedures at Tan Son Nhat airport in HCMC in January 2022. Photo by VnExpress/Quynh Tran
The Airports Corporation of Vietnam (ACV) earned after-tax profits of VND2.6 trillion ($111.4 million) in the second quarter, which is higher than two preceding pandemic-hit years combined.

The sum is the highest quarterly after-tax profit that the ACV, which operates 22 airports across the country, has earned since it was listed on the stock market in 2016.

Its net revenue in the second quarter more than doubled year-on-year to almost VND3.43 trillion.

Thanks to the strong recovery of the aviation market in the post-pandemic period, the corporation generated more than VND5.5 trillion in first-half revenue, meeting 50 percent of the year's target, and nearly VND3.5 trillion in after-tax profit, surpassing the year’s target.

As of June 30, ACV's total assets were valued at VND55.9 trillion, an increase of approximately VND900 billion compared to the beginning of the year.

In 2019 and 2020, the airport operator had collected a combined VND2.430 trillion in after-tax profit.

Last year, its profit stood at more than VND830 billion, down nearly 50 percent from 2020.

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