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Vietjet 2017 pre-tax profit reaches approximately USD209 million

February 1, 2018 Financial No Comments Email Email

Vietjet Aviation Joint Stock Company (HOSE code: VJC) announced its consolidated pre-audited financial statement report for 2017 with all indicators growing strongly compared with 2016 and exceeding the plan approved at the company’s Annual Shareholder Meeting.

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Specifically, total net revenue in 2017 reached nearly VND42,258 billion (USD1.86 billion), an increase of 53.7% year on year and exceeded the annual plan by 0.6%. Pre-tax profit stood at approximately VND4,755 billion (USD209 million), up 75.9% year on year and achieved a 126% increase over its yearly plan. After-tax profit of parent company’s shareholders reached VND4,527 billion (USD199 million), equivalent to VND10,065 (USD0.44) earning per share (EPS).

Thanks to the expansion of its fleet by 17 aircraft in 2017 (including a modern A321 NEO – the first Airbus A321 NEO in Southeast Asia), Vietjet opened 22 new routes (one domestic and 21 international ones), increased its total operating routes to 82, including 38 domestic and 44 international ones. Vietjet carried over 17.11 million passengers in 2017. Air transportation revenue of the year was VND22,577 billion (USD995 million), up 41.8% year on year and exceeded the yearly plan by 4.6%.

Up to December 31st, 2017, its total fleet consisted of 51 Airbus A320 and A321 aircraft. Vietjet received 39 aircraft out of the total of 219 aircraft ordered from Airbus and Boeing. On time performance in 2017 was 85.59%.

Cost per available seat kilometers (CASK) excluding fuel decreased to 2.25 US cent, reduced by 7.3% year on year and at the lowest in the world due to the efficient cost control in 2017. CASK including fuel decreased by 2.27% to 3.79 US cent.

In 2017, Vietjet paid 10% cash dividend, 40% share dividend for 2016 and advanced 20% cash dividend payment for 2017. With its positive business results, Vietjet has increased its 2017 dividend payment from 50% to 60% and prepared for 10% cash dividend payment for 2017 on February 7th, 2018.

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