Vietjet Aviation Joint Stock Company (VJC) has just announced its business results for the fourth quarter of 2022 with net revenue of 11,807 billion dong, 4.2 times higher than the same period in 2021. However, the cost of goods sold up to 15,650 billion dong caused Vietjet to have a gross loss of 3,834 billion dong.
Financial revenue and financial expenses were VND 2,064 billion and VND 1,353 billion, respectively, many times higher than the same period in 2021. Net loss from business activities was VND 3,746 billion, while in the fourth quarter of the previous year, a loss of only 82 billion VND. copper.
Notably, financial expenses amounted to VND 1,353 billion, 4.5 times higher than the same period last year, mainly interest expense (VND 408.5 billion), loss on exchange rate difference has been recorded. implemented (VND569.8 billion) and VND490 billion provision for devaluation for the investment of buying 50 million shares of Vietnam Oil Corporation (OIL) at original price of VND990 billion.
| VJC lost nearly VND 2,200 billion in 2022. |
Thanks to another profit of more than VND 1,618 billion, Vietjet Air suffered a loss following tax of VND 2,358 billion, while in the same period the loss was only VND 93 billion.
Accumulating the whole year of 2022, this airline reported a loss following tax of VND 2,171 billion, marking the first year of reporting a loss since its shares were listed on the stock exchange.
By the end of 2022, VJC’s total loans and finance lease debt was VND 17,483 billion, up 13%. The main source of loans is bonds with a total value of VND 10,650 billion, with an interest rate of 7.78-9.5%/year. Bank loans are VND 6,788 billion, of which VND 6,410 billion are short-term loans.
Total assets of VJC reached VND 67,147 billion, up 30% compared to the beginning of the year. In which, short-term and long-term receivables accounted for 49,050 billion VND, up 22% compared to the beginning of the year. VJC’s cash and cash equivalents are VND 1,858 billion.
