Thursday , January 21 2021

A series of large enterprises still have high growth

First, the aviation industry giant Vietnam Airlines has not yet released its Q3 financial report, but at a press conference, business leaders revealed the Vietnam Airlines Group’s 9-month earnings (including Vietnam Airlines, Pacific Airlines and Vasco, with code: HVN) reached 23.948 billion VND, which is a decrease of 58.3% compared to the same period in 2019. Overall, the airline flew 46,700 flights in the first nine months, transporting almost 11.9 million times. passengers and 146,000 tons of cargo. Vietnam Airlines Group’s market share is 51.7% of domestic passengers. However, third-quarter revenue only increased by 4.5% and costs increased by 5.9% compared to the second quarter due to the fact that airlines had a surplus of planes, constantly increasing flights, causing lower fares. Therefore, the combined loss of the three airlines was 4. 4.187 billion, and Vietnam Airlines’ individual loss was 3. 3.626 billion, increasing the loss compared to the first two quarters of the year. The consolidated loss before tax for 9 months is 10.750 billion dong, equivalent to 71% of the 2020 loss plan. Vietnam Airlines alone has a loss of 8.737 billion dong, which is equivalent to 60.3% of the plan loss in 2020.

Business Results Update Q3: Big Business Still Still Growing - Photo 1.

This year will definitely be an unforgettable year for the Dong Fuong and Sheraton Da Nang hotels, the impact of the pandemic strongly affects the tourism industry, including hotels and resorts. In the third quarter of 2020, Dong Fuong continued to record a net loss of 87 billion dong, 2.5 times higher than the same period last year. The Sheraton Hotel closed from July 28 to September 8, causing revenues to fall by VND 103 billion over the same period, or just 7.4%. Fixed costs, meanwhile, remained virtually unchanged, with high depreciation and interest rates causing Dong Fuong large losses. In the first 9 months, the company brought in net revenue of 63 billion dong, down 78%; net loss is 233 billion dong, more than double the same period last year. This increased Dong Fuong’s accumulated loss to VND 571 billion; capital is also negative 317 billion dong.

Followed by the loss of Duc Quan Investment and Development (Fortex – FTM), with revenue of less than 5 billion VND, while financial expenses in the quarter were almost 22 billion VND, in addition, in the quarter. In the past 3 years, Duc Quan Fortex has also recorded another cost of more than VND 22 billion – the cost of stopping production. As a result, in Q3, the loss of Duk Kuan Fortex was 49.3 billion dong, a deeper loss than the loss of 12.3 billion dong, recorded in the third quarter of last year. In the first 9 months of 2020, Duke Kwan Fortex reached VND 44.6 billion in revenue and recorded a loss of VND 150.5 billion after tax.

Although Kam Fa Thermal Power (NCP) had a 35% increase in K3 revenue over the same period, high interest costs due to large loans caused Cam Fa Thermal Power to lose more than 52.8 billion WND, while at the same time the period lost of over 115 billion dong – halved. In the first 9 months of the year, the company’s revenue reached 3.098 billion dong, which is 4.5% more than the previous year and a loss of more than 116.2 billion dong, increased dramatically from the loss of over 79.7 billion dong recorded in 9. the first month of last year. These losses contributed to the total accumulated loss of the company to 1.189 billion VND. The owner’s capital is 780 billion dong, while the capital is 1.970 billion dong.

Anh Duong Vietnam (Vinasun, VNS) – The owner of the taxi brand Vinasun also released its third quarter financial report. Thus, net income was only 221 billion dong, half of the same period last year. This is the 5th consecutive quarter Vinasun Revenue Declined. The price of goods sold continued to be negative at 243 billion VND, which is a decline of 38% year on year. By the end of the period, VNS had recorded a tax loss of 57 billion dong. This is also the third consecutive quarterly loss of this taxi company. In the first 9 months of the year, total VNS revenues reached 743 billion dong, a drop of over 50% compared to the same period in 2019. Accumulated profit after tax recorded a negative level of 185 billion dong, while last year the profit was 94 billion dong.

Han Hoa Electricity Company (KHP) continued to disappoint when it lost more than 40 billion dong in Q3 / 2020, also the third consecutive quarter of loss. In the third quarter of 2020, the KHP recorded a net income of almost 1.283 billion dong, which is 18% less than a year ago. The high price pressure caused the CSP to lose more than 40 billion dong (net profit was almost 87 billion dong in the same period). Plus the first two bad quarters of the year, this hydropower company has accumulated a loss of almost 271 billion dong. KHP said that due to the impact of the Covid-19 service together with the policy of exemption / reduction of electricity bills for consumers, revenues from electricity bills in the first 9 months of the year decreased by more than 539 billion VND during the same period . sell off KHP shares and are no longer the main shareholder.

Business Results Update Q3: Big Business Series Still Growing High - Photo 2.

Noi Bai Airlines (NCS) has released its financial statements for the third quarter of 2020, resulting in a 72% drop in sales revenue over the same period last year, reaching more than 45 billion dong. The company reported a quarterly loss of 3/2020 VND 25.6 billion. In the first 9 months, the company recorded a loss of 43.2 billion dong. The company said the Covid-19 epidemic had caused some international airlines to stop flying, and domestic airlines had sharply reduced the number of flights, reducing the company’s meal production.

In Q3 / 2020 at Vosko (VOS), revenues continued to decline by 12% year-on-year to GNN 293 billion. COGS is up $ 301 billion, making the company continue to post a tax loss of 22 billion dong in Q3, down from 73 billion dong in the same period last year. Accumulated in the first 9 months of the year, Wosko reached 970 billion VND revenues, which is 17% less compared to the same period last year, and the loss after tax was 140 billion VND, which is 5 billion VND compared to the first 9 months from 2019. According to Vosko, the shipping market in recent years continues to face many difficulties with the impact of the KOVID-19 pandemic. Major economies such as the United States, China, Japan and the European Union are facing the deepest, worst economic recession in decades, and so is maritime hardship. general development of the economy.

Royal International (RIC) released its quarterly financial report 3/2020 with net income falling nearly 60% over the same period to $ 34 billion. During this period, RIC’s business activity is below COGS when it has over 38 billion dong, resulting in a gross loss of over 4 billion dong, while the same period has a gross profit of 24 billion dong. Although RIC sought to reduce sales and administrative costs to more than 3 billion and 9 billion dong, the company still recorded a net loss of 17 billion dong, while the same period recorded a profit of 8 billion dong. This is the 3rd consecutive quarterly loss this year for RIC. According to the RIC, revenues in the third quarter of 2020 fell sharply as the global economy was hit hard by the Covid-19 pandemic when it broke out in the fourth quarter of 2019 and by the end of the third quarter of 2020, there were still no signs of calm. down RIC estimates did not only affect third-quarter revenue but also the following months. Faced with this situation, RIC was forced to organize the employees to take free time from work, to reduce the advice for the employees, to reduce the income from the compensation of the dishes and the utensils of the clients …

Hanoi – Beijing Buck Food (HKB) continued to sink in losses, only in the third quarter because revenues could not cover expenses, HKB lost more than 15 billion dong, while the same period recorded a loss of almost 13 billion dong. This is the third consecutive quarter in which the CCP loses. According to the explanation of HKB, the company is in the phase of restructuring and rearranging the credit capital with the banks, so that it did not fill enough capital to serve the production and business activities. Accumulated in the first 9 months of the year, HKB net income increased 91% in the same period, reaching over 2 billion VND, and net loss recorded more than 49 billion VND. Increase the accumulated loss to 196 billion. Previously, in 2017 and 2018, the CCP had a loss of 67 and 142 billion dong, respectively.

In addition, although the loss of Nhon Trach 2 Oil and Gas Power (NT2) still surprised investors, NT2 said that the Nhon Trach 2 plant stopped the plant from regularly expanding its First 75,000 Equivalent Hours (EOH) in September 2020. This makes income for electricity generation, while fixed costs such as depreciation, interest … do not change much. In addition, financial income fell 94% to 3 billion dong as the company posted a large profit from revaluation of foreign currency denominated loans worth 49.6 billion dong. In contrast, finance spending increased by 44% to 48.5 billion dong, as a result of the loss of the exchange rate difference of almost 21 billion dong. These reasons caused NT2 to receive a loss of almost 6 billion dong in the third quarter, the first quarter for losses from the third quarter of 2013.

Business Results Update Q3: Big Business Still Still Growing - Photo 3.

In addition, after the first 3 quarters of the year continuously reported large profits during the same period, the Vietnamese oil and gas pipeline coating (PV coating – PVB) also surprised when it reported a loss of almost 7.4 billion dong. In the quarter, net income reached 49.2 billion, 5 times higher than the same period. However, COGS is higher than revenue, leading to a gross loss of sales and service delivery of over 1.3 billion dong. Subtracting additional costs and taxes, in Q3, PV coating lost more than 7 billion dong. However, in the first 2 quarters of this year, the company made a profit of more than 87 billion dong, so in the first 9 months of 2020, PV Coating still has a profit after tax of almost 80.5 billion dong, drastically increased by the loss of over 39 billion dong recorded in the same period. in 2019. However, this result still helps the PV coating to keep the rate above 65% of the profit target assigned for the whole year.

Business Results Update Q3: Big Business Still Still Growing - Photo 4.

In addition to the aforementioned losses, about 60 companies reported losses in the second quarter, but the loss improved significantly compared to the first 2 quarters, with more than 50% of businesses. reported a loss of less than 5 billion dong. However, there are still many businesses that did not publish their Q3 financial statements, including businesses that previously reported large losses in the first two quarters of the year such as FLC, Vietravel, ROS, Pomina, Duc Long Gia Lai …

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