Although the profit returns in the third quarter of 2020, the interest rate of the Vietnam Airport Corporation is only 141 billion dong, down 94% year-on-year. Net profit after 9 months is only 1,369 billion dong, down by 77%. ACV’s assets up to 58.5% are cash and bank deposits with nearly 34,000 billion VND, an increase of 8.7% compared to the beginning of the year.
Airports Corporation of Vietnam (UPCoM: ACV) announced its third quarter financial report with a sharp decline over the same period but somewhat more positive compared to the second quarter. Specifically, net revenue this period at 1,443 billion, down 69% over the same period last year. Gross profit dropped 98% to only 40.7 billion. However, compared to the situation in the second quarter, it was better when this enterprise was doing business below cost and the gross loss was 408.5 billion dong.
Revenue from financial activities (mainly interest on deposits) remained at 579 billion, up only 1% over the same period. This period, financial expenses at 287 billion, nearly 10 times higher than the same period. Profits from joint ventures and associates decreased by 56% to 37 billion VND. Selling expenses and administrative expenses decreased by 69% and 12.5% respectively.
As a result, after losing VND 354 billion in the previous quarter, ACV’s profit returned to VND 141 billion, down 94% year-on-year.
In the first 9 months, net revenue is 6,082 billion dong, down by 55% YoY. Parent company EAT also decreased by 77% to 1,369 billion dong.
Total assets as of September 30 did not change much from the beginning of the year and remained at over 58,121 billion dong. ACV’s assets up to 58.5% are cash and bank deposits with nearly 34,000 billion VND, an increase of 8.7% compared to the beginning of the year.
Source: ndh.vn – Translated by fintel.vn
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