ACV sees 80-percent slump in pre-tax profit due to COVID-19
The Airports Corporation of Vietnam (ACV) posted a 80-percent slump in this year’s pre-tax profit, which stood at close to 2.09 trillion VND (90.67 million USD), due to travel restrictions induced by COVID-19.
Hanoi (VNA) – The Airports Corporation
of Vietnam (ACV) posted a 80-percent slump in this year’s pre-tax profit, which
stood at close to 2.09 trillion VND (90.67 million USD), due to travel
restrictions induced by COVID-19.
The ACV said last year, it suffered heavily from the pandemic which led to plunge in international flights while domestic travel also weakened.
Its revenue in the fourth quarter of 2020 declined 64.6 percent year-on-year to 1.72 trillion VND. The whole year’s figure totalled 7.8 trillion VND, down 57.5 percent compared to 2019.
Q4 post-tax profit was at 346 billion VND, a year-on-year decrease of 85 percent. Overall, the company’s after-tax profit shrank 79 percent to over 1.71 trillion VND, the lowest over the last 10 years.
As of December 31, its total asset stood at nearly 57 trillion VND, down more than 1.18 trillion from the beginning of last year.
The ACV, which operates 22 airports across the country and many land services providers, is the investor of the 16-billion-USD Long Thanh International Airport development project.
Started in January 5, the first phase of the project is estimated cost 4.66 billion USD. It is expected to be put into use in December 2025./.
The ACV said last year, it suffered heavily from the pandemic which led to plunge in international flights while domestic travel also weakened.
Its revenue in the fourth quarter of 2020 declined 64.6 percent year-on-year to 1.72 trillion VND. The whole year’s figure totalled 7.8 trillion VND, down 57.5 percent compared to 2019.
Q4 post-tax profit was at 346 billion VND, a year-on-year decrease of 85 percent. Overall, the company’s after-tax profit shrank 79 percent to over 1.71 trillion VND, the lowest over the last 10 years.
As of December 31, its total asset stood at nearly 57 trillion VND, down more than 1.18 trillion from the beginning of last year.
The ACV, which operates 22 airports across the country and many land services providers, is the investor of the 16-billion-USD Long Thanh International Airport development project.
Started in January 5, the first phase of the project is estimated cost 4.66 billion USD. It is expected to be put into use in December 2025./.
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