ACV aims for 9% profit growth in 2018
The slowing down in growth of the domestic market is considered reason behind Airports Corporation of Vietnam (ACV)`s revenue and pre-tax growth targets at 7% and 9%, respectively.
The said figures are significantly lower than the respective figure of revenue and profit growth rate in 2017 of 55% and 60%, said ACV's 2018 annual report.
ACV aims for 9% profit growth in 2018.
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ACV's total assets worth VND48.7 trillion (US$2.1 billion), in which short-term assets accounted for 54% and the remaining is long-term assets. Its payable debt is posted at VND21.7 trillion (US$950.4 million), including 34% short-term debt.
With regard to financial targets, total revenue in 2018 of ACV is set at nearly VND16 trillion (US$707 million), up 7% compared to 2017, resulting in pre-tax profit of VND5.2 trillion (US$229 million), an increase of 5.3%.
In 2017, ACV has received 94.1 million passengers going through the airport, up 16% compared to 2016 and equivalent to 103% of the year's plan. In which, foreign passengers were 30.3 million, up 27%; domestic passengers were 63.8 million, an increase of 12%.
AVC currently operates 22 airports nationwide, which is expected to receive 101.8 million passengers this year; in which 34.4 million are foreign passengers and 67.4 million are domestic passengers.
ACV is one of the 3 key enterprises in airline industry, alongside Vietnam Airlines and Vietnam Air Traffic Management Corporation (VATM).
ACV is a joint stock company operating in the form of parent company - subsidiaries. The company was converted from single-member limited liability Company with 100% State-owned charter capital to a joint-stock company with 95.4% state holding shares, while other shareholders hold the remaining 4.6%.
ACV operates under parent company - subsidiaries model, managing 22 airports nationwide, of which 7 are international airports: Tan Son Nhat, Noi Bai, Da Nang, Phu Bai, Cam Ranh, Phu Quoc, Can Tho, and 15 are domestic: Buon Ma Thuot, Lien Khuong, Rach Gia, Ca Mau, Con Dao, Phu Cat, Pleiku, Tuy Hoa, Chu Lai, Dong Hoi, Vinh, Cat Bi, Tho Xuan, Dien Bien and Na San; and also providing capital contribution to subsidiaries, joint-venture companies and affiliates.
From now to 2020, Airports Corporation of Vietnam - JSC shall continue to carry out the strategy of investment, improvement, modernization of airport infrastructure nationwide in line with modern, international-class standards; ensuring safety and security, effective and sustainable development; meeting the increasing demands of aviation business, always being a safe, dynamic and most attractive destination of Asia - Pacific.
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