Q3/2022 FINANCIAL STATEMENTS OF VIETRAVEL
To perform the reporting and information disclosure obligations of public companies in accordance with Circular No. 96/2020/TT-BTC dated November 16, 2020 of the Ministry of Finance, on October 31, 2022 Vietnam Travel and Marketing Transports Company – Vietravel (Stock code: VTR) has announced its consolidated financial statements for the third quarter of 2022.
Following the achievements in the second quarter of 2022 with a profit in the quarter of 48,994,702,968 dong, the consolidated financial statements of the third quarter of 2022 recorded corporate profit after tax with 51,461,517,161 dong. After merging with subsidiaries and affiliates, Vietravel's profit in the third quarter of 2022 reached 6,997,876,088. The above results show that Vietravel can completely balance between tourism and aviation activities, which are two core businesses of Vietravel to bring profits to businesses. This result reflects the strong recovery of Vietravel in particular and Vietnam's tourism and aviation industry in general after the Government officially opened the border to tourists on March 15, 2022.
According to the report, Vietravel's main business segment is tourism, showing that the results achieved in the third quarter of 2022 are superior to the forecast, the revenue is nearly 1,500 billion VND, 21% higher than the plan set out in the third quarter of 2022, and an increase of 25% compared to the business results of the first 6 months of 2022. Generally, in the first 9 months of 2022, Vietravel achieved a revenue of 2,700 billion VND in the tourism business. Vietravel's revenue growth rate of outbound tourism has increased sharply in recent months. Although some traditional markets such as Japan, Korea, and Taiwan have just announced their opening for tourism, they have impacted the increase in the proportion of foreign tourism revenue in the Company's overall revenue structure. In September 2022, revenue from foreign tourism accounted for 50% of the total revenue structure of enterprises, this rate before Covid-19 was 66%. Tourism business activities have many positive changes, high-value tours are prioritized by customers, in addition, tourists are also tending to book tours very early before the departure date, which has generated significant revenue for the Company, thereby reducing the financial cost burden of the business.
Notably, the revenue structure from MICE accounts for 60%. This shows the need to organize tourism programs combined with meetings of organizations and businesses in order to regenerate labor force, create a cohesive relationship between the employees after a long time of social distance is always at a high level. Some branches of Vietravel are operating in big cities and localities with many industrial parks, such as GIT (Ho Chi Minh City area), Vietravel Hanoi Branch, Dong Nai, Binh Duong , Vung Tau, Hai Phong, Quang Ninh, Hue, Da Lat, Buon Me Thuot... exceeded the whole year 2022 plan in all 03 indicators: Number of visitors, Revenue and Gross profit.
Destinations chosen by a large number of tourists (individuals and corporate customers) are Phu Quoc, Da Nang, Nha Trang, and the Northern route. For foreign routes, Europe prevails because countries in this region soon lifted restrictions on travel as well as applied policies to attract international tourists.
Mr. Tran Doan The Duy - General Director of Vietravel said that the company's business activities only really started to return since the Government announced the opening to international tourists from March 15, 2022. The above results show that the careful preparation and determination of the leadership team and employees of the Company have contributed to the highest efficiency. With the information that Japan, Korea, Taiwan, which are considered traditional markets, will completely open tourism to international tourists in the fourth quarter of 2022, revenue always accounts for a large proportion of the business structure. Vietravel's revenue, profit rate of foreign markets are always high, Vietravel will surely exceed the set plan in 2022, especially targets related to financial activities and profit.
It is forecasted that in the fourth quarter of 2022, the tourism and aviation industry will continue to have many favorable developments with special events of the year such as Christmas, New Year, Lunar New Year, yellow leaf tourism season, etc. In addition, the fact that some countries are completely open to tourism to coincide with these events promises to be a peak tourist season no different from the exciting summer tourist season. On the occasion of the 27th anniversary of the Company's establishment (December 20, 1995 - December 20, 2022), Vietravel will organize a big promotion to thank customers for always accompanying the company's growth through that past time. With the achievements in the second and third quarter of 2022, Vietravel believes that it will continue to reap many successes in the last months of the year, as a premise for Vietravel to enter the full recovery phase at the beginning of the first quarter 2023. Vietravel's plan in the fourth quarter of 2022 is expected to be quite high, with 150,000 visitors and 1,000 billion VND in tourism revenue.
For the aviation segment, Vietravel Airlines recorded many positive signals before entering the business phase in the last months of 2022. In order to meet the increasing travel demand of passengers at the end of the year and Tet 2023, on October 4, 2022, Vietravel Airlines officially opened for sale 70,000 seats for the flight period from January 7 to February 7, 2023. By the end of October 30, 2022, the load factor of flights in the above period has reached 87%, this is an impressive number showing the spectacular return of the aviation industry after nearly 2 years of temporary disruption as well as the support of customers, the combined ability and strength of Vietravel and Vietravel Airlines in launching the tourist market. In addition, beside working closely with the aviation authorities in the country to increase the frequency of domestic flights during the peak Tet holiday, Vietravel Airlines is also preparing for the grand opening. The airline's first international flight is on December 9, 2022, the Hanoi - Bangkok route with a frequency of 01 flight per day and the Ho Chi Minh City - Bangkok route in January 2023.
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About Vietravel Airlines
Vietravel Airlines is invested by the largest travel group in Vietnam and Asia - Vietravel Corporation (Stock Code: VTR), the airline officially operated the first commercial flight connecting Ho Chi Minh City and Hanoi on January 25, 2021. Vietravel Airlines is an important piece contributing to perfecting the multi-dimensional tourism ecosystem combining multi-modal transport that the Group aims to with the mission of connecting and promoting the development of famous tourist destinations in Vietnam and worldwide, aims to bring customers unique aviation products that combine travel, comfort experience and uplifting emotions on each flight journey.
Vietravel Airlines focuses on exploiting its commercial flights on a fleet of modern narrow-body Airbus A321/ Boeing 737 or equivalent aircraft. In the first two years, the airline will focus on exploiting domestic and Asian route networks (Korea, Taiwan, Thailand, Singapore) with a fleet of 06 A321 aircraft and will continue to increase to 12 aircraft in the following year.
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Contact information
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